IIT-Madras has announced funding of up to Rs 5 crore to support innovative sportstech startups in India, aiming to bridge the gap between technology and the sports industry. The initiative, led by the IIT-Madras Pravartak Technologies Foundation and the Centre of Excellence in Sports Science and Analytics (CESSA), aims to nurture startups focusing on AI and IoT-based solutions, media and entertainment, fan engagement, athlete performance, esports, sports education, data analytics, commerce, and community-building.
Startups interested in support can apply through the Pravartak website, with shortlisted submissions presenting their business at the ‘IIT Madras Sports Technology Start-up Conclave.’ Ramesh Kumar, CEO of CESSA, emphasized the aim to enhance sporting excellence through technology, while Prof Mahesh Panchagnula highlighted the significance of the conclave in India’s sports tech innovation journey.
Funding for startups, ranging from Rs 10 lakh to Rs 50 lakh, will be provided by the IITM Pravartak Technologies Foundation, with equity stake and support from IITM CESSA during incubation. Startups at any stage, with proper incorporation and intellectual property rights, are eligible. IITM CESSA will offer access to sports infrastructure, technical assistance, a startup ecosystem, and research facilities. Shankar Raman from IIT-Madras Pravartak Technologies Foundation reiterated the commitment to empowering entrepreneurs leveraging technology for global athlete competitiveness.
