ENA Sectors 2024-05-27 13:19:36 <p><span style="font-size:14px"><strong>Chennai, May 27 (KNN)</strong> In a move to deepen the linkage between technology and the sporting industry, the Indian Institute of Technology (IIT) Madras has announced plans to fund sports-tech start-ups up to Rs 5 crore.</span></p> <p><span style="font-size:14px">The aim is to foster the creation of products and applications that can enhance sporting excellence in the country.</span></p> <p><span style="font-size:14px">The funding will be provided by the IIT Madras Pravartak Technologies Foundation and the IIT Madras Centre of Excellence in Sports Science and Analytics (CESSA).</span></p> <p><span style="font-size:14px">It will support start-ups developing AI and IoT-based products involving sensors, networks, actuators, and controllers in the sports domain.</span></p> <p><span style="font-size:14px">The broad areas identified for the sports-tech start-ups include media, entertainment, content streaming, fan/player engagement, athlete performance measurement and enhancement, esports, sports education, data analytics, fan engagement metrics, sports commerce, and sports communities.</span></p> <p><span style="font-size:14px">Interested start-ups can apply through the link https://incubation.pravartak.org.in/login.</span></p> <p><span style="font-size:14px">Shortlisted applicants will be invited to present their business plans at the 'IIT Madras Sports Technology Start-up Conclave' on June 14-15, the country's first such conclave for this sector.</span></p> <p><span style="font-size:14px"> We want to create a deeper linkage between technology and the sporting industry, and lead the development of an ecosystem to enhance sporting excellence, said Ramesh Kumar, CEO of CESSA and former global head of ESPNCricinfo.</span></p> <p><span style="font-size:14px">Prof. Mahesh Panchagnula, Dean (Alumni and Corporate Relations) at IIT Madras and head of CESSA, believes the conclave will be a turning point in India's sports-tech innovation as the country prepares to bid for hosting the Olympics.</span></p> <p><span style="font-size:14px">The investment support, ranging from Rs 10 lakh to Rs 50 lakh per start-up, will be based on business potential, with IITM Pravartak Technologies Foundation taking an equity stake.</span></p> <p><span style="font-size:14px">IITM CESSA will provide high-tech sports infrastructure, tech support, access to the startup ecosystem, and a data center for research.</span></p> <p><span style="font-size:14px"><em><strong>(KNN Bureau)</strong></em></span></p> 37950 https://knnindia.co.in/news/newsdetails/sectors/iit-madras-to-fund-sports-tech-start-ups-up-to-rs-5-crore 2024-05-27 13:19:36 knnindia.co.in