Kozhikode: The business incubator of IIM Kozhikode, in partnership with Cochin Shipyard Limited, has awarded ₹2.5 crore in prototype grant funding to three promising startups under the USHUS Maritime Innovation Support Scheme. This latest funding tranche aims to accelerate the development of sustainable, scalable, and indigenous technologies in India’s maritime sector.

USHUS programme: Nurturing Maritime Innovation

The USHUS initiative, implemented through IIMK LIVE, provides early-stage startups with financial assistance, technical mentorship, regulatory facilitation, and market access. Its Pilot Grant Scheme enables startups to turn innovative concepts into working prototypes, test market viability, and refine solutions for commercialisation.

Startups Selected for ₹2.5 Crore Funding

  • Neiox Eco Cycle Pvt. Ltd., Kozhikode
  • Fuselage Innovations Pvt. Ltd., Alappuzha
  • Asatrobo Technologies Pvt. Ltd., Bengaluru

With this round, a cumulative ₹6.9 crore has been sanctioned to 14 startups under USHUS, of which ₹3 crore has already been disbursed. The programme emphasises sustainability, scalability, and indigenous development in India’s maritime sector.

 

Prof. Debashis Chatterjee, Director IIM Kozhikode and Chairman, IIMK LIVE, highlighted the impact of academia-industry collaboration: “This initiative is enabling young entrepreneurs to turn their scientific ideas into market-ready maritime technologies, contributing directly to India’s vision of Atmanirbhar Bharat.”

 

Shri Madhu S. Nair, Chairman and Managing Director, Cochin Shipyard Limited, praised the programme’s role in fostering self-reliance: “The true success of USHUS lies in startups developing indigenously built, ready-to-use technologies that directly benefit the maritime industry.”

The award ceremony featured senior representatives from CSL and IIMK LIVE, including Prof. Ashutosh Sarkar and Ms. Anjana K. R. Formal agreements with the startups have set in motion funding disbursement and mentorship processes, ensuring robust support for prototype development.

For more details: IIMK LIVE USHUS Programme