Cochin Shipyard Limited (CSL) has awarded seed funding to two start-ups as part of USHUS, a start-up initiative in association with IIMK LIVE, the business incubator of the Indian Institute of Management, Kozhikode, to promote marine entrepreneurship.
A press release said IIMK LIVE identified M/s NyQuest Innovation Labs Pvt. Ltd. and M/s. Pelican Thermogenics Pvt. Ltd. as the standout start-ups through a rigorous selection process. In recognition of their potential, NyQuest Innovation Labs received a grant of ₹50 lakh, while Pelican Thermogenics was awarded ₹30 lakh in seed funding.
The event took place on Tuesday at IIMK LIVE, IIM Kozhikode Campus, with Prof. Ashutosh Sarkar, Executive Director of IIMK LIVE, signing the agreements with the start-ups in the presence of CSL officials.
