250+ startups and counting, with Runway Incubator at UPES

Time of India

06-06-2025

India has emerged as one of the world's most dynamic startup ecosystems, currently home to over 119 unicorns (Tracxn, 2025) and thousands of ventures disrupting traditional industries. Ranked third globally in terms of the number of startups, the country continues to benefit from government-led initiatives focused on building job creators rather than just job seekers. A robust digital infrastructure and a new generation of entrepreneurial talent have further accelerated this momentum. Yet, many young innovators, particularly from Tier 2 and Tier 3 cities, still lack access to a nurturing ecosystem that provides structured mentorship, funding opportunities, and hands-on experience to transform ideas into meaningful impact.
Recognising this need, UPES has taken a proactive approach to foster innovation and entrepreneurship from the ground up. At UPES, this nurturing ecosystem has a name: Runway.
Launched in 2021, Runway is the university's dedicated startup incubator, built to empower student founders and early-stage entrepreneurs from ideation to investment. In just under four years, Runway has grown into a full-fledged innovation hub, supporting over 250 startups. This reflects UPES' broader vision to embed entrepreneurship into the fabric of education, not as an elective, but as a core skill for the future.
What sets the Runway apart is the credibility it has built in a remarkably short span. The incubator has secured over ₹20 crore in competitive grants from key national and state-level agencies, including DST, MeitY, DBT–BIRAC SPARSH, Startup Uttarakhand, and ACIC–AIM, NITI Aayog. Startups nurtured at the incubator have collectively raised close to ₹25 crore in external funding. These recognitions have positioned Runway as a serious platform for entrepreneurship—not only for students, but also for startups across the region seeking capital, mentorship, and technical support.
Runway is grounded in a philosophy that seeks to lower barriers to entrepreneurship—especially for students from Tier 2 and Tier 3 cities, many of whom are first-generation entrepreneurs. The incubator welcomes students from all disciplines—engineering, law, design, liberal studies—encouraging interdisciplinary innovation. The focus is not just on launching startups, but on building ventures that solve real-world problems. Support spans a curated pre-incubation program, access to co-working spaces, labs for prototyping, legal and IP advisory, training in the art of pitching and GTM strategy, and mentorship from ecosystem experts and industry leaders. Regular demo days help connect founders with investors and funding opportunities. The most powerful driver, however, is the entrepreneurial culture on campus, where students are inspired to see themselves not just as job seekers, but as creators.
This culture of action-oriented innovation will be further strengthened through 'The Pitch', an upcoming Shark Tank-style event at UPES. The high-stakes showcase will feature 12–15 early-stage startups pitching live for a chance to secure funding from a ₹3 crore pool, with a minimum ticket size of ₹25 lakhs (approximately $25,000) per startup. But this is more than just a funding event.
The Pitch
reflects UPES' broader vision of redefining higher education by backing entrepreneurial talent with real money, real mentorship, and real opportunities. With university leadership, investors, and industry experts on the panel, the event is set to mark a bold chapter in UPES' journey as a startup university.
This culture has already given rise to several promising startups such as:
UGreen Technology
Founded by Gaurav Dwivedi (B.Tech, Petroleum Engineering, UPES, 2019–2023), UGreen Technology is a CleanTech venture that began as a bold idea, and Runway was the first to believe in it. UGreen launched India's first carbon capture pilot for the E&P sector. Its flagship product, OCOFix, uses a patented molecular engineering method to decarbonise hard-to-abate industries. With ₹92.5 lakh raised through grants and a ₹4 crore funding round in the pipeline, UGreen is setting the pace in climate innovation.
Gaurav thanks his alma mater for the exposure and access to cutting-edge labs for his success.
'The professors believed in my ideas even before they were fully formed. Their mentorship was instrumental in turning an idea on paper into a national-level CleanTech startup,'
he says.
Pension Box
Founded by Kuldeep Parashar (B.Tech, Applied Petroleum Engineering, UPES, 2010–2014), Pension Box is helping India rethink retirement. It offers a digital pension infrastructure that enables users, especially gig workers and the self-employed, to plan, automate, and manage their retirement savings effortlessly. With ₹7 crore in funding from marquee investors, including the founders of Zerodha, the platform has grown rapidly and become a thought leader in the retirement tech space.
Kuldeep credits UPES for having instilled in him the confidence to think beyond the obvious.
'The faculty not only taught us what was in the books but also challenged us to apply that knowledge in real-world scenarios. That mindset helped shape my entrepreneurial journey,'
he says.
Indian Hempstore
Founded by Siddharth Gupta (MBA, Logistics, Materials, and Supply Chain Management, UPES, 2013–2015), Indian Hempstore is building India's first hybrid marketplace for hemp-based products. The venture promotes sustainable alternatives across fashion, food, wellness, and lifestyle, while also supporting rural producers and artisans.
The idea took root during Siddharth's time at UPES, where early exposure to sustainable practices inspired him to explore hemp as a future-ready material. With support from Runway, Indian Hempstore has fulfilled over 2,000 orders, onboarded 40+ brands, and generated over ₹15 lakh in revenue, helping position hemp as a planet-positive solution for the future.
Siddharth credits UPES and Runway for enabling him to channel his purpose into a scalable business.
'Runway gave us the space to dream bigger and the support to build what truly matters- a startup that is good for people and the planet,'
he says.
These ventures stand out not only for innovation but for their purpose, with a focus on accessibility and social impact. They reflect what's possible when young entrepreneurs are equipped with the right environment and intent.
With Runway, UPES is doing more than launching startups, it's cultivating changemakers who may well define India's next innovation wave.