ixigo co-founder Rajnish Kumar announced the Made in Fire Fund on 28 October 2026 to support founders from IIT Kanpur's graduating class. Its fund page describes a ₹1 crore launch fund for ten teams, with ₹10 lakh in non-dilutive prototype funding for each selected startup. This is a targeted, competitive opportunity, not a general grant for all founders.
What the offer covers
The organiser says the money is intended to help build a minimum viable product, test a core hypothesis and reach an initial proof point. The fund also describes founder office hours, product reviews, go-to-market and hiring guidance, introductions and a demo day. These are stated programme features, not a guarantee of a customer or follow-on investment. PTI's report describes the intended focus on technology-led ventures and says Kumar plans support for ten startups from each graduating batch. The fund's own page currently details the Class of 2026; future cohorts and funding should be confirmed with the organiser.
Non-dilutive means the described prototype funding does not require giving up ownership as equity. It does not by itself establish every other condition: applicants should ask about disbursement milestones, permitted costs, reporting, repayment or clawback provisions, intellectual property and any separate agreements before accepting an offer.
Who can act on it?
The launch page focuses on IIT Kanpur's Class of 2026. PTI reports that graduating students may apply individually or as teams. The fund page said applications were open when checked on 29 October, but said detailed selection filters would be agreed with IIT Kanpur; it did not specify a closing date. Verify the current form, deadline, team requirements and terms with the organiser before preparing an application. Do not assume a place or a grant is assured.
A useful application starts with a specific user problem, what has been learned from potential users, the smallest prototype that could test the idea, and a budget showing what it would prove. For founders outside this cohort, the lesson is to compare university, local and sector-specific programmes rather than assume this fund is available to them. Our incubator and accelerator guide explains how to compare programme terms.
Sources checked: 29 October 2026. Programme status and conditions can change.
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