ALEAP provides seed fund to startups

Hyderabad: AIC ALEAP WE HUB, an ALEAP's manufacturing multisector business incubator, organised seed fund disbursal to the startups, supported by Atal Innovation Mission (AIM), NITI Aayog and Centre. As many as 14 startups are awarded grant from Ministry of Electronics and IT (MEITY) TIDE 2.0 scheme and Startup India Seed Fund Scheme (SISFS). Nearly Rs 1.67 crore was disbursed to the startups across the country.

Jayesh Ranjan, Principal Secretary to Government of Telangana, Department of Industries and Commerce, presented seed fund to the startups and appreciated the exceptional work done by AIC ALEAP We Hub for the women entrepreneurs and startups.

K Rama Devi, President, ALEAP and Chief Executive Officer AIC ALEAP We Hub, said: "ALEAP is acting as a support system for the promotion and empowerment of women startups and Indian entrepreneurs for financial sustainability and social impart. For the last 28 years, ALEAP is successful in delivering this job for 50,000 women beneficiaries."

ALEAP (Association of Lady Entrepreneurs of India) established for Women entrepreneurs and startups. It provides services like co-working spaces, lab infrastructure and machinery support, mentorship, market connect, seed funding, networking and facilitation to Banks and VC funding. The focus areas of the incubator are food processing, biotechnology, biodegradable technologies, electronics and engineering, 3D printing and IT & ITES. At present it has 75 innovative startups being supported by its Incubation centre.