A series of investments have been announced by CL Educate Limited (CL), an ed-tech company as it is set to invest INR 30 crore in early-stage startups, based on campuses, cited ET.
The company CL Educate Limited is also aiming to invest INR 5 to 50 lakh in each of these startups.
The planned investments will strengthen the CL Educate’s offering on WAINConnect.com, an innovation, collaboration platform of the company.
“WAINConnect has built an incredible pipeline of startups. We intend to add the WAIN fund and WAIN studio accelerator program to the WAIN innovation, collaboration platform to help universities assist young innovators in scripting their own success stories,” Satya Narayanan R., chairman, CL Educate, said.
WAIN (Worldwide Academia, Industry Network) is an open innovation platform for collaboration between startups, universities and corporate to solve problems.
As per the company, the WAIN innovator pipeline is rapidly closing in on 100,000 innovators and the CL Educate Board has approved the creation of a Rs 30 crore corpus WAIN fund, with CL Educate as the anchor investor.
In addition, Some of the brands currently associated with WAINConnect include IIT Kanpur, GE, TATA-AIG, HP, among others.