USHUS: Cochin Shipyard’s Startup Support Program Accelerating Maritime Innovation and Growth in India

USHUS is a startup support program initiated by Cochin Shipyard Limited in collaboration with IIMK LIVE. The objective of this program is to contribute to the Indian government’s efforts to foster and nurture a thriving ecosystem for Maritime Startups in the country. By participating in this program, startups will gain access to various resources and support mechanisms including virtual incubation, mentorship, seed funding, angel/venture capital connections, and market support. Additionally, Cochin Shipyard Limited will directly provide equity funding to selected startups.

One of the key benefits that startups can avail through the USHUS program is seed funding grants offered by IIMK LIVE. Each startup can receive up to Rs. 50 lakhs in seed funding to help kickstart their entrepreneurial journey. This financial support can play a crucial role in covering initial expenses and securing necessary resources for startups to make progress.

In addition to seed funding, USHUS also provides prototyping grants to startups. These grants, also offered by IIMK LIVE, can provide up to Rs. 1 crore per startup to facilitate the development and creation of prototypes. Such financial assistance is invaluable in enabling startups to test their ideas, refine their concepts, and build prototypes that can attract potential investors and customers.

Furthermore, Cochin Shipyard Limited (CSL) plays an active role in the USHUS program by offering equity investments to selected startups. This direct equity funding from CSL can give startups the necessary capital infusion to scale up their operations and make significant strides in their business growth. By combining financial support, mentorship, and market connections, USHUS aims to provide startups with a holistic ecosystem to thrive and succeed in the maritime sector.

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