Vellore Institute of Technology (VIT) announced on Tuesday about its 2 venture capital firms to support and fund student-led startups.
The prestigious higher-educational institution has signed a MoU with Singapore-based Thinkuvate and Indore-based ValleyNXT, both institutional early-stage venture capital firms for the same.
“Under the agreement, the two firms will collectively invest up to Rs.10 crore in early-stage home-grown startups founded by VIT students, with each contributing Rs.5 crores,” a press release said.
Thinkuvate, a venture capital firm operating in Singapore and India, specializes in early-stage investments with a strong focus on deep tech, fintech, and health tech. The partnership is expected to expand opportunities for startups across India and Southeast Asia.
ValleyNXT focuses on addressing real-world challenges in areas such as healthcare, education, climate, employment, and livelihoods.
The MoU was formally exchanged by Addison Appu, Managing Partner of Thinkuvate, Harshwardhan Saklecha, Vice President of ValleyNXT, and Sekar Viswanathan, Vice President of VIT.
The signing ceremony was attended by VIT Vice Chancellor V.S. Kanchana Baskaran, Pro Vice Chancellor Parthasarathy Mallick, Director of Innovations Chidambaram Rameshkumar, Director of Alumni Affairs Karthikeyan, Senior Consultant – Business Development & Innovation, Nordic Innovators P/S, Copenhagen, Denmark (Also VIT alumni), Rajat Pandey and senior university officials.
