Cochin Shipyard is providing seed capital to two start-ups as part of the IIMK-backed USHUS program Ship’s crew

Madhu S Nair, CMD CSL, said: “I sincerely hope that CSL’s IIMK-backed initiative will help catalyze the maritime start-up ecosystem in the country and encourage greater participation of the start-up fraternity in its development to enable the immense potential of. This relatively unexplored sector.”

The collaboration between IIMK LIVE and CSL aims to create a supportive ecosystem for maritime start-ups and provide them with technical, regulatory, financial and marketing support. Cochin Shipyard Ltd has launched the “USHUS” start-up framework, facilitating the development of innovative products and solutions to empower the shipping industry.

“This collaboration is proving to be a game-changer for young and talented entrepreneurs to co-develop marine-related products and services with financial backing, mentoring and support from IIMK LIVE and CSL.” developments and institutional partnerships in early-stage start-ups,” said Debashis Chatterjee, Director of the IIMK.

The selected startups are expected to be committed to innovation, improving goods, services or processes and presenting a scalable business strategy with the potential for significant revenue growth and job creation. The funds provided can be used for both operating and capital expenditures, including working capital, the acquisition of fixed assets and other necessary expenses.

After the successful completion of the first round, IIMK LIVE and CSL invite applications for the next round of start-up selection. In upcoming rounds selected startups have the opportunity to receive funding of up to 1 crore rupees in grants and direct equity funding from Cochin Shipyard. To apply for this program and receive incubation support, interested startups can visit www.iimklive.org. The application deadline for the next round is July 20th.

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