Rajnish Kumar, co founder and Group Co CEO of travel technology company ixigo, has launched a Rs 1 crore fund to support young entrepreneurs graduating from the Indian Institute of Technology Kanpur. 

Named the Made in Fire Fund, the initiative aims to help students turn promising ideas into working products and build their own businesses.

Announced on 28 October, the fund will support 10 technology startups from each graduating batch, starting with the Class of 2026. Each selected startup will receive Rs 10 lakh in funding to develop and test its initial product.

One of the key features of the initiative is that the funding is non dilutive. This means founders can receive financial support without giving away ownership of their businesses in exchange for the money.

Apart from funding, selected entrepreneurs will receive guidance from Kumar, ixigo’s leadership team and experienced founders in its network. The support will include product reviews, advice on reaching customers, hiring assistance and introductions to potential investors.

The programme will also give founders an opportunity to present their progress at a Demo Day after six to twelve months.

The fund will support startups working in areas such as artificial intelligence, software as a service, deep technology, consumer internet, climate technology, mobility, healthcare technology and enterprise software.

These sectors offer opportunities for entrepreneurs to develop solutions to real business and consumer problems. Early funding can help founders build prototypes, test customer demand and improve their products before approaching larger investors.

Rajnish Kumar graduated from IIT Kanpur in 2001 and returned to support the next generation of entrepreneurs. The initiative reflects the growing importance of early stage funding in India’s startup ecosystem.

By combining financial support with practical mentorship, the Made in Fire Fund aims to help young founders move beyond ideas and take their first steps towards building sustainable businesses.

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