MUMBAI: Atal Incubation Centre (AIC) – Pinnacle Entrepreneurship Forum, a leading startup incubator and accelerator, has announced that the cumulative valuation of its incubated startups has crossed the milestone figure of INR 300 crores. AIC-Pinnacle, founded under Atal Innovation Mission (AIM) in 2018, has become a beacon of innovation, incubating over 60 startups in fields as diverse as Electric Vehicles, Agri-tech, Health, Manufacturing, Information Technology, and Clean Energy.
The incubator has empowered businesses with a robust support structure through its extensive incubation programs. To date, seed fund support of Rs 5.41 Crores has been provided from various government schemes. Besides financial support, access to cutting-edge software, prototype aid, certification guidance, legal and intellectual property support, mentorship from a respected panel of experts, cutting-edge infrastructure, and critical networking opportunities are all part of the package.
AIC-Pinnacle-backed startups have raised around Rs. 30 crores in funding from various sources such as angel investors, awards, and challenges. These investors have given 30 firms a total market worth of over Rs 300 crores, with the largest startup valued at Rs 40 crore. AIC Pinnacle has raised significant funds for businesses by forming strategic connections with Angel Investors, Venture Capital firms, and financial institutions.
Expressing his views, Dr. Sudhir Mehta, Chairman of Pinnacle Industries & EKA and Founder of AIC-Pinnacle Entrepreneurship Forum, said, “We are proud to witness the incredible success of our incubated startups as they collectively cross the 300-crore valuation mark. This milestone is a reflection of the hard work, dedication, and ingenuity of Indian entrepreneurs we support. AIC-Pinnacle remains committed to fostering innovation and nurturing the next generation of industry leaders in India.“
The significance of AIC-Pinnacle goes far beyond financial assistance. The incubator and its startups have generated 35+ Intellectual Property Rights applications, over 250 jobs, and a lively community of 15,000 people in the entrepreneurial ecosystem. Furthermore, some startups have garnered significant national and international prizes, demonstrating their ability to innovate.
AIC-Pinnacle’s success story is about more than just wealth creation; it’s about turning ideas into significant companies, fostering innovation, and changing the future of entrepreneurship in India. As AIC-Pinnacle continues to support startups, it confirms its commitment to driving the nation’s innovation environment ahead.
