Startup India launches academia alliance programme
Startup India has launched Startup Academia Alliance Programme for academic scholars and startups, aimed at bridging scientific research and its industrial applications gap, and increase the efficacy of technologies for wide impact. The Startup Academia Alliance programme by Startup India aims to fulfill the government’s mission to promote the spirit of entrepreneurship in the country. It focuses on simplification, handling, funding support, incentives, industry-academia partnership, and incubation for startups. The programme is being organised in partnership with The Regional Centre for Biotechnology, The Energy and Resources Institute (TERI), The Council on Energy, Environment and Water, and The TERI School of Advanced Studies. Startup Academia Alliance further strives to create lasting connections between the stakeholders of the startup ecosystem and implement the third pillar on which the Startup India Action Plan is based — Industry Academia Partnerships and Incubation. Health and fitness startup CureFit is looking to aggressively expand its CultFit fitness centres to at least 500 by 2020 and over 200 by next year-end, supported by $120 million funds raised recently.
The two-year-old startup currently has 60 CultFit outlets across three cities of Bengaluru, Gurgaon/ Delhi and Hyderabad with over 100,000 customers. The firm is currently reporting a run rate of about Rs 25 crore a month. The startup has so far raised around $160 million and only less than 20 per cent of the funds were utilised so far. The balance funds will be spent over the next few years towards developing fitness devices and technology platform, apart from expanding the footprint. The startup has last month raised $120 million in its series C round of funding led by IDG Ventures,
Accel Partners and Kalaari Capital with participation from Chiratae Ventures and Oaktree Capital.