Cochin Shipyard Limited (CSL) has taken a significant step in fostering maritime start-ups by awarding seed funding totaling Rs. 90 lakhs to three promising ventures. This initiative is part of the USHUS Scheme, a start-up program initiated by CSL and managed in collaboration with IIMK LIVE, the business incubator of the Indian Institute of Management Kozhikode. The program aims to support maritime start-ups by providing technical, regulatory, financial, and marketing assistance while bringing various stakeholders together.
In the second round of seed funding, IIMK LIVE selected three start-ups for early-stage seed funding: M/s Fuselage Innovations Pvt Ltd (based in Kerala), M/s Xalten Systems Pvt Ltd (also in Kerala), and M/s Ensoverse Pvt Ltd (located in Delhi). This additional support expands the total number of start-ups benefiting from the USHUS program to five, with a cumulative funding commitment of Rs. 1.7 crores to date.
During a ceremony attended by IIMK LIVE and CSL officials, Professor Ashutosh Sarkar, Executive Director of IIMK LIVE, and Mr. Deepu Surendran, General Manager at CSL, presented the selected start-ups with their awards and signed agreements, cementing the partnership’s commitment to nurturing innovation in the maritime sector. This initiative reflects the dedication of Cochin Shipyard Limited to fostering entrepreneurship and innovation within the maritime industry.
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