Gujarat Technological University (GTU) has launched GTU Ventures, a sector-agnostic ecosystem to support startups across emerging and sunrise sectors including Artificial Intelligence (AI), Blockchain, CleanTech, Industry 4.0, Biotechnology, MedTech and Allied Life Sciences. University officials said GTU Ventures builds upon the GTU Innovation Council to create a dedicated platform supporting startups, innovation and entrepreneurs.
Tushar Panchal, Group CEO of GTU Ventures, said the initiative provides startups, students and researchers with state-of-the-art infrastructure, mentorship and funding opportunities to transform innovations from concept to commercialisation. “If we want to prepare for future, it is the right time to scale up entrepreneurship and innovation in sunrise sectors in technology and other fields. By encouraging youth and entrepreneurs in these areas now, we will see results that align with our national leadership’s vision. While we have shifted focus to sectors like AI, blockchain and cleantech, we will continue supporting other innovative entrepreneurship ideas,” he said.
GTU Ventures operates independently through GTU Innovation and Startup Centre (GISC) and AIC-GISC Foundation, ensuring quick decision-making and seamless startup support. The university has partnerships with Atal Incubation Centre, Technology Business Incubator, Design Innovation Centre, Student Startup & Innovation Policy, Host Institute for MSME Scheme and IdeaLab by AICTE. Entrepreneurs can receive financial support up to Rs 50 Lakh through various grants, depending on ideas.
GTU has established five Regional Incubation Centers in Ahmedabad, Vadodara, Rajkot, Surat and Mehsana to expand its reach, Panchal said. Additional benefits for aspiring entrepreneurs include access to AI Lab, Fab Lab and Incubation Centers for research, prototyping and development.