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2014-06-24

KSEB to fund six innovative start-ups

Six innovative projects presented before Energy Open Innovation Zone (EOIZ) of the Startup Village in Kerala have been selected for funding by the Kerala State Electricity Board (KSEB), which has earmarked Rs 1.5 crore for them.

Six innovative projects presented before Energy Open Innovation Zone (EOIZ) of the Startup Village in Kerala have been selected for funding by the Kerala State Electricity Board (KSEB), which has earmarked Rs 1.5 crore for them.



The projects selected were Automatic Power Machine developed by Varun Kurup, Eco Solar Water Pump by Surish, Drive and Rack System for Ocean by Shaji V V, Floating Solar Plant by Ajay, Hydrogen Stove by Vimal Gopal and Energy from Flowing Water by Durga Prasad, a press release said.



Once the projects become viable business models, the KSEB intends to replicate them across the state.



EOIZ, being promoted by the KSEB in association with the Startup Village, will help the six young innovators develop their innovations as viable business models in the field of power generation, distribution and conservation.



"We are happy that the KSEB has opted for Startup Village to get innovative ideas in the power sector. They have earmarked Rs 1.5 crore for funding different innovations for pilot runs and prototyping. We also want the youngsters to come out with innovative ideas to promote solar energy," said Sanjay Vijayakumar, Chairman, Startup Village.



The projects were selected from 41 applications which were screened by a project appraisal committee and finally selected by an oversight committee comprising senior KSEB and the startup village officials.



Sanjay Vijayakumar said EOIZ would also provide seed funds to 10 final year projects of B.Tech students that too have the potential to be developed as viable business models.

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