Startup incubation: Business incubator for science-based startups Venture Center has signed a memorandum of understanding (MoU) with the engineering simulation software company Ansys Software to support technology startups. While Ansys will offer its simulation software licenses to eligible startups, Venture Center will provide the appropriate computing infrastructure and setup required. Venture Center is a not-for-profit technology business incubator hosted by the government’s CSIR-National Chemical Laboratory.
“The Ansys Startup Program has helped numerous successful startups globally to design innovative products. Startups in the program have benefited in several ways – from accelerating innovation at a limited cost to securing additional funding for future projects. Engineering startups in India have demonstrated strong potential to innovate and scale up for both India and the global market,” said Rafiq Somani, Area Vice President ‒ India and South Asia Pacific, Ansys.
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Due to limited funding and revenue, startups find it difficult to build and test physical prototypes of their products to verify their performance which also requires significant financial and human resources other than being time consuming. These challenges restrict startups to scale fast and grow.
The Ansys Startup Programme offers different simulation solutions for startups, reducing physical prototype testing. In addition, the programme also offers classroom, virtual and self-paced programmes designed to improve startups’ technical knowledge.
According to Ansys, over 1,950 startups from 58 countries have joined the programme since its global launch in 2016 across the autonomous, high-tech, energy, aerospace & defense, automotive, communications, healthcare, and other industries.
On the other hand, since its inception in 2007, Venture Center has supported over 600 entrepreneurs and is home to over 70 resident startups, making it India’s largest science business incubator.
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“In 2023, Pune is ranked closely with Chennai and Delhi in terms of startup funding, and Ansys’ multiphysics simulation software, coupled with high-performance computing, is the right technological push for early-stage startups here to be on par with the rest of the country,” said Premnath Venugopalan, Director- Venture Center & Head- NCL Innovations.
With Ansys’ multiphysics simulation software, Venture Center can provide technical mentoring and product ideation support to its incubatees during their ideation stage.
