Shete Advance Technologies Private Limited, a startup incubated by Marathwada Mitra Mandal’s Foundation for MakeitHappen Centre for Invention, Innovation, and Incubation (FMCIII), has secured a $2.5 million investment from Filtrum LLP. The investment will be used to provide smart meters under the Smart Meter National Programme (SMNP), according to Bhausaheb Jadhav, Executive President, Marathwada Mitra Mandal.
During a press conference held at FMCIII, located on the Marathwada Mitra Mandal’s College of Engineering, Karvenagar Campus, several key figures were present, including Secretary Kishor Mungale, Principal Dr Vijay Gohokar, FMCIII CEO Dr Chandrashekhar Talathi, and startup founder Vyankatesh Shete, along with other representatives from incubated startups.
Glamowell Extravaganza In Pune Promotes Work-Life Balance Through Harnessing Inner Energy
Bhausaheb Jadhav remarked, “Since its inception, Marathwada Mitra Mandal has always emphasised research, excellence in science and technology, skill and entrepreneurship development, and value-based education, adhering to the principle of ‘Welfare of the Masses.’ To instil a culture of innovation, invention, startups, and entrepreneurship among students, FMCIII was established. Many startups have been incubated and successfully transitioned into industries. The $2.5 million investment in this smart meter startup is a matter of pride for us.”
Kishor Mungale acknowledged the efforts made by FMCIII, stating that the initiatives to promote startup culture and entrepreneurship are commendable. “In a short period, 65 startups have been supported, with many transitioning into industries. STP has always supported these kinds of initiatives. I am very pleased that the smart meter startup secured an investment of approximately ₹20 crore. This will also encourage other startups and engineering students,” he said.
Pune: PMC Approves ₹97 Crore For Shastrinagar Chowk Flyover, Grade Separator Project
Dr Vijay Gohokar, Principal of MMCOE, added, “Having an Innovation and Incubation Centre within the college premises allows students to gain hands-on experience with startups. They also have opportunities for internships. This exposure has inspired many students to start their ventures, and several have successfully transformed their research into products. Industrial visits, discussions with entrepreneurs, various workshops and guidance sessions, and participation in technical and scientific competitions are encouraged for students. This centre has become an important platform for developing students’ research mindset, startup culture, and entrepreneurship.”
