Vellore Institute of Technology (VIT) signs memoranda of understanding (MoUs) with two venture capital firms to support early-stage startups launched by students. According to reports, VIT partners with Thinkuvate, a Singapore-based institutional early-stage venture capital firm, and ValleyNXT, an Indore-based institutional early-stage venture capital firm. Under the arrangement, the venture capital firms and VIT jointly plan to invest ₹10 crore in student-founded startups, with each firm contributing ₹5 crore. The initiative is aimed at providing funding and backing for campus-based innovation and entrepreneurship, focusing on early-stage companies created by VIT students. The MoUs outline the collaboration between the university and the firms to channel capital into student-led ventures, though further details such as selection criteria, timelines, and the structure of investment terms are not specified in the available reports. Overall, the sources describe a coordinated effort by VIT and the two venture capital investors to fund and encourage startup activity within the student community.
VIT signs MoU with venture capital firms to back student startups
Vellore Institute of Technology (VIT) signs memoranda of understanding (MoUs) with two venture capital firms to support early-stage startups launched by students. According to reports, VIT partners wi...
- VIT signs MoUs with Thinkuvate and ValleyNXT to support student-led startups.
- Thinkuvate is described as Singapore-based; ValleyNXT is described as Indore-based.
- The partners plan a total investment of ₹10 crore in early-stage startups.
- Each venture capital firm is reported to contribute ₹5 crore.
- The focus is on startups founded by VIT students.
VIT signs MoU with Singapore-based Thinkuvate and Indore-based ValleyNXT, both institutional early stage venture capital firms, to support and fund student led startups
4 hours agoThe firms will jointly invest ₹10 crore in early-stage startups founded by VIT students, with each contributing ₹5 crore
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