Oxigen founder sets up startup accelerator at IIT-Roorkee

Oxigen’s founder, Pramod Saxena has launched Aarambh Ventures, a startup accelerator in partnership with IIT Roorkee. Aarambh Ventures will be advisory to an innovation center called Idea Lab at IIT-Roorkee and Greater Noida campus.

It is important to note that Saxena is an alumnus from the institute. While the IIT campuses would provide the space, and access to their infrastructure, Saxena promises to bring in the investors and experts. It is a perfect bridge between the industry and fine balance of networking and talent. Pradipta Bannerjee, director, IIT Roorkee says, ”We will be able to pitch in with the ideas of our faculty as and when needed.”

Saxena has signed an MoU for an equal partnership with the institute, be bringing on to the platform early stage funds such as Unitus Seed Fund, IvyCamp funds etc, and high net worth individuals who would be funding the startups accelerated in Aarambh.

Initially, the ideas will be honed at the 'idea lab' set up at the IIT Roorkee campus and the accelerator is open to students, faculty and alumni of IIT Roorkee as well. So, the accelerator at the Noida campus of the college will cater to students who have graduated from the idea lab in a 16-week programme. However, the amount invested into the accelerator remains undisclosed.

Idea Lab is scheduled to open late 2016 at IIT Roorkee Campus and will provide a congenial environment to promote innovation, entrepreneurship, original thinking and collaborative infrastructure that is needed to succeed in the 21st century knowledge economy.

With the right mentors and steady stream of funds, Aarambh Ventures can drive India’s startup industry into a desired direction.