Government of India, recognises riidl for supporting the creation and incubation of early-stage startups & the ecosystem
Mumbai May 30, 2022: We are proud to announce that Research Innovation Incubation Design Laboratory Foundation (riidl), an organization set up by the Somaiya Trust in 2010 to nurture entrepreneurship and innovation amongst its Students, Faculty, Staff & Alumni and has bagged the most prestigious National Award for the year 2020 in the Emerging Technology Business Incubator category by Department of Science & Technology, Government of India. riidl, a startup incubator and an innovation center at the Somaiya Vidyavihar University is supported by Department of Science & Technology, Department of Biotechnology – BIRAC, Government of India and Maharashtra State Innovation Society, Government of Maharashtra.
On the occasion of National Technology Day, this prestigious award was presented by Dr. Jitendra Singh, Hon’ble Minister of State for Science & Technology (I/C), Minister of State for Earth Sciences, Minister of State for Prime Minister’s Office, Personnel, Public Grievances & Pensions, Atomic Energy & Space, in a ceremony held on 11 May 2022 in New Delhi. This award was presented for exemplary work in the area of incubating and nurturing technology-based startups, and it has been instituted by the National Science & Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology, Government of India. The award was received in the presence of Secretary, DST, Dr. Srivari Chandrasekhar and DG, CSIR, Dr. Rajesh S. Gokhale.
The National Technology day is celebrated every year on 11th May where The Government of India commemorates this day by honoring those who have made significant contributions to the field of technology & celebrates the ones who are involved with ideating, innovating & promoting the dissemination of knowledge thereby ensuring its benefits reach the grassroot level. The day reminds Indians of the country’s technological advancements & acknowledges anyone who has made a significant contribution to this field.
In merely a decade, riidl, being a sector-agnostic incubator, has focused on building startups across various domains. It has facilitated over 130 startups, 2800 innovators and 2200 Bio-enthusiasts & researchers across sectors through their initiatives & programs like Maker Mela, Darwin, Startup Bootcamp, Bio-Entrepreneurship Program, Acceleration Program, Code Adventure, SkillEd, Project Based Learning & Internships Program to develop their early-stage ideas to fully functional companies by providing them educational training, industry-specific resources, intellectual property protection, HR support and other required resources; with a total revenue generated by startups over INR 200 Crores till date. They have created various labs to offer a working space to cultivate ideas into the final product; and multiple online and offline communities for budding entrepreneurs from across the globe to come together and promote innovative ideas thus training over 18000 students & participants
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If you have an idea and want to start your own venture / need support in your projects, you can apply for incubation at riidl: riidl.org/incubation
If you’re looking to intern with their startups or with riidl, please reach out to them on riidl.org
On receiving this highly acclaimed award, Mr. Gaurang Shetty, Chief Innovator Catalyst/CEO, riidl, expressed his joy and said, “We feel extremely elated and privileged to receive this prestigious award. The achievements of an organization are the results of the combined efforts of each individual. Our vision is to create an ecosystem of inventions and not just entrepreneurship, which can enhance the intellectual, psychological and social development of our country in the next 10 years”.
Prof. V. N. Rajasekharan Pillai, Vice Chancellor of Somaiya Vidyavihar University said, “This award is a recognition of the sustained efforts of Team riidl & we would continue to provide support to the startup community. We tend to recognise & enable access to knowledge, experience, and funding for the startups, as we have forged academic collaborations, industry-driven alliances, and participated in government entrepreneurship programs to reinforce the quality of the leadership team, range of services offered, good practices, scale and scope of activities, financial and operational stability and impact. The riidl team deserves highest appreciation and proactive support from all of our institutions.”
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riidl [riidl.org] supports the creation and incubation of early-stage companies from ideation to commercialization by providing them with resources, labs, government grants, investor connections, funding and mentorship. It is registered as a not-for-profit Section 8 Company & has over 20,000 square-foot sanctioned space as per the government programs and the facility is in the heart of the Somaiya Vidyavihar’s Mumbai campus where aspiring entrepreneurs from across all of Somaiya Vidyavihar’s schools and colleges—be they students, faculty, or researchers—can meet to connect, collaborate, and tap into a vast array of resources to help develop their ideas and inventions into startup companies. Further, to enable access to knowledge, experience, and funding for the startups, riidl has forged academic collaborations, industry-driven alliances, and participated in government entrepreneurship programs.