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|In: Incubators|Last Updated: | 0 Comments

The Honourable Chief Minister of Andhra Pradesh, Chandrababu Naidu presided over the signing of two significant MoU with fintech multinationals Visa and Thomson Reuters at Mumbai. The milestone represents another firm step by the state government designed to catapult Fintech Valley Vizag as the national and global hub for Fintech innovation.

Also hosting the event were Mr. J. A. Chowdary, Special Chief Secretary and IT Advisor to the AP Chief Minister, Ms. Latha Ayyar, Special Representative for Innovation & IT in the Government of AP & COO, Bharti AXA, Mr. Vijayanand, IT Secretary for Government of AP, Mr. J Satyanarayana, UIDAI chairperson and former IT Secretary, Mr. T.R Ramachandran, Group Country Manager, Visa India & South Asia and Mr. Pradeep Lankapalli, Managing Director, Thomson Reuters South Asia.

The Government of Andhra Pradesh is also hosting the first Fintech Valley Vizag Spring Conference 2017 on March 9~10, 2017. The conference will bring together fintech companies, start-ups, researchers and key government officials who are working in the fintech sector, and will provide opportunities for disruptive business solutions. With a special focus on nurturing start-ups, the conference will also announce the winners of the Fintech Startup Challenge who will receive INR 15 lakh prize and free infrastructure for six months in the Fintech Tower.

Chief Minister Chandrababu Naidu said

Our vision is to create 5 lakh jobs in Andhra Pradesh by 2020 through technology-enabled services. Fintech Valley is a playground for start-ups and innovators. Our aim is to turn Fintech Valley into a global hub by enhancing the fintech ecosystem with mutually beneficial cross border collaborations and relationships. This can lead the way in the technological and financial growth of the nation.

J. A. Chowdary, Special Chief Secretary & IT Advisor to the Chief Minister, Government of Andhra Pradesh added

These MoUs are steps towards converting our vision to reality – of making AndhraPradesh the leader in fintech ecosystem – through Fintech Valley Vizag. Both these companies, Visa & Thomson Reuters, are industry leaders in their space and we are excited to be working with them.

As per the MoU between Visa and Government of Andhra Pradesh, the parties intend to collaborate to develop a robust digital payment ecosystem in Vizag through a multi-level approach that targets several stakeholders.

Through the promotion of awareness campaigns and educational programmes, the MoU sets out to encourage both merchants and consumers to accept and adopt digital payments. To make payments more efficient for businesses, the government is taking Visa’s support to enable digital payments for government and business segments, including the latest technologies in Quick Response [QR] code and Near-Field Communication [NFC]. Visa will also develop a curriculum for government and consumers, including modules to scale financial literacy. By encouraging the use of electronic payments in the city, with a special focus to include traditionally underserved segments, the agreement promises to make Vizag more financially inclusive and accepting of the digital future.

TR Ramachandran, Group Country Manager, Visa India & South Asia, speaking on this collaboration said

Visa welcomes the opportunity to partner with the State Government of Andhra Pradesh on this unique and strategic endeavor. We propose to undertake this initiative as a part of Visa’s global financial inclusion efforts that aim to provide 500 million underserved with a payment account by 2020.

We are committed to bringing Visa’s global expertise, innovations, and resources to make this endeavor a success. With the launch of BharatQR, a global first of its kind low cost payment solution, we hope to rapidly scale up the number of small merchants accepting digital payments. In addition, we hope to implement innovative commercial payment solutions that will accrue significant benefits to the state.

Commenting on the MoU, Pradeep Lankapalli, Managing Director, Thomson Reuters South Asia said

The Andhra Pradesh Government’s vision of transforming Visakhapatnam as the next fintech destination is admirable. As world’s oldest fintech company, with 150 years of financial innovation history, Thomson Reuters will serve as an accelerator in this journey. Our Open platform technology and access to global best practices, will provide the right enablers and expertise to the Andhra Pradesh government as they pursue the goal of building a global fintech hub.

Fintech Valley Vizag is fast becoming the epi-centre of fintech disruption. Since the launch of Fintech Tower, the Andhra Pradesh government has signed thirteen MoUs, of which six are with renowned educational institutions and seven with corporations seeking to disrupt the fintech sector.

The Chief Minister of Andhra Pradesh has offered full support to companies, incubators, facilitators and start-ups, inviting anyone with disruptive ideas to be a part of Fintech Valley, on the edge of innovation. Aiding the state’s efforts to make Vizag a global destination for fintech disruptors and innovators is KPMG, the Knowledge Partner of the Fintech Valley Vizag.

The IT sector in Vizag has achieved an annual turnover of INR 2,000 crore. The city is supported by a robust industrial base and educational infrastructure that is being expanded with the support of innovative start-ups and firms. Additionally, it offers peaceful solace compared to the bustling tech-hubs India otherwise offers, to innovate the future of fintech.

About Fintech Valley Vizag

The Fintech Valley brings together public and private players, state of the art incubators and accelerators, innovation labs, mentorships, angel investors and anyone willing to break free from traditional processes. The self-sustained global Fintech Ecosystem provides more than just access to Fintech and its innovators; it nurtures an oasis in which cyber security, block chain, digital education and research thrive at international standards. For more information, please visit Fintech Valley Vizag

About Spring Conference 2017

Fintech Valley Vizag is Government of Andhra Pradesh’s flagship initiative that brings together industry, academia and investors to innovate, co-create and build the Fintech ecosystem. The Fintech Spring Conference 2017 marks the beginning of this new journey. Spring conference will have CXOs from Fintech companies, start-ups & financial services. For more information, please visit Spring Conference 2017

|In: Accelerator|Last Updated: | 0 Comments

There is a dialogue in the Web Series TVF Pitchers from TVF Play – ‘India’s future would be shaped by entrepreneurs and it is their ideas that would play a crucial role in India’s growth‘, that is very relevant in the current scenario. India is on the cusp of the entrepreneurship wave and grass-roots level initiatives like Make In India, Digital India, India Stack (UPI, eKYC etc.), Startup India Fund etc. are opening up new avenues for aspiring entrepreneurs in India. India did jump four spots in Easy Of Doing Business Index but yet there is lots of work to be done (Source*) so that the conditions are more conducive to starting as well as winding-up of businesses.

Apart from the conducive entrepreneurial environment, there is a dearth of focused groups for idea validation, converting ideas into a viable business, connecting with fellow entrepreneurs, connecting with investor community (Angels, Early stage VC’s), getting early-adopters for products, etc. Mentors can act as a motivational device for a startup, they can provide guidance through their domain expertise as well as much needed motivation! Effective Mentorship & Guidance was one of the key factors for the success of RedBus (Source*). To summarize, each and every torch bearer is critical in building a vibrant startup ecosystem.

As mentioned in Startup Revolution, a community is a core part of the startup eco-system and must be built with a bottom-up approach, not top-down. Startup Accelerators play a vital role in community development and that is the reason number of accelerators have been on the rise. However, the impact an accelerator has in a startup’s journey would vary depending on the program. Many accelerators welcome entrepreneurs that have business ideas in Ideation Stage whereas some require the ideas shaped in the MVP Stage. Seed capital, Mentoring, Infrastructure are the key pillars of Startup Accelerator. During my tenure with a startup – Anaxee, the team at the Nirma Labs incubator (used interchangeably with accelerator) played a crucial role in shaping up the idea to MVP along with providing the Seed Capital.

One such accelerator that aims to be a significant player in the development of the entrepreneurship eco-system in India is Espark-Viridian. Espark-Viridian is a joint initiative of Entrepreneurial Spark, UK, and Viridian Ventures. It has a network of accelerator centers that follow a program based approach to foster entrepreneurship. Espark UK has an amazing track record with more than 650 Enabled Startups with a success rate of 88%.

Irrespective of whether a startup is in the ideation phase or growth phase, entrepreneurs are welcome to apply for the October 2016 batch. Espark-Viridian has launched the #StartSomething campaign and expanded the accelerator program to Chandigarh and Mumbai. Hence, entrepreneurs irrespective of their current location can apply for the October batch for the Mumbai, Chandigarh, Delhi or Gandhinagar centers.

The Espark-Viridian program is an 18-month long program that can be very crucial for accelerating your business to the next stage. That duration would help them validate their idea, get initial traction and make their ideal market-fit. That is the primary reason, the program is built on the following pillars that are key to the entrepreneurial eco-system:

Validation and MVP Design: Develop an initial prototype of your product with minimum investment.
Funding Readiness: Transform ideas into viable businesses by helping entrepreneurs explore new avenues and validate the product. Pitch to investors for follow-on funding.
Enablement and knowledge sharing : Industry experts, successful entrepreneurs would be invited to empower startups. Each team would have a Mentor who would be a Subject Matter Expert in that particular domain. Enablers keep the team motivated and play a vital role in shaping the idea into a workable product. Check the mentors associated with Espark-Viridian program here

In order to address requirements of the startups that enroll for the program, Espark-Viridian has tied up with AWS Activate, Paytm, HeadStart, IAmWire, YourStory, and Kotak Mahindra Bank.

Some of the startups that Espark-Viridian has worked with can be found here. If you are an aspiring entrepreneur looking for idea validation or to shape your idea to MVP or to take your startup to the next level of growth, you can apply for the Espark-Viridian Program

Follow Espark-Viridian for updates on Facebook, Twitter, LinkedIn, and YouTube

In a nutshell, startup accelerators can have a positive impact on the startups associated with them, though it might vary depending on the program. Irrespective of the potential of impact, accelerators do have a positive effect on the eco-system!

|In: Accelerator|Last Updated: | 0 Comments

DigitalOcean, the cloud for developers announced Hatch, a global incubator program designed to support the next generation of startups as they launch and scale. The program provides startups with access to DigitalOcean’s cloud for 12 months so they can focus on building their businesses and not worry about their infrastructure. The program also provides startups with free technical training, mentorship, priority support, and an opportunity to connect with other startups, accelerators, and investors.

Ben Uretsky, Co-founder and CEO of DigitalOcean said

Use of the cloud has significantly decreased the capital required to start a business, yet still remains one of the largest expenses founding teams face in the early days. We got started as part of the Techstars accelerator program so we understand, firsthand, the challenges and what it takes to launch and scale a company. That’s why we are supporting the next generation of startups in getting their products off the ground.

Hatch is an expansion of DigitalOcean’s established partnership ecosystem with several of the top accelerators, including Y Combinator, Techstars, 500 Startups and NASSCOM 10K. Over the past few years, DigitalOcean has powered the applications and production workloads for more than 800 startups that are part of these accelerator programs by offering support and infrastructure credits.

DigitalOcean will be piloting Hatch through their accelerator and investor partnership network and will on-board a larger group of bootstrapped and funded startups around the world later this year.

Rajat Tandon, Vice President at NASSCOM said

A program like Hatch will be of great help to the startups in this space. Not only does the cloud result in cost savings but it is a revolution that is defining the modern IT antics. Many SAAS companies face scaling issues due to lack of support and mentorships. Startups in this segment are emerging like how! Hatch would be their go-to support which will help them scale up fast efficiently and effectively.

Investor Andreessen Horowitz’s Partner Frank Chen said

Early in their lives, startups need to focus 100% on building a product that customers love rather than on keeping the service up and running. With access to programs like Hatch, startups can focus on running experiments on their way to product-market fit and entrust the infrastructure to DigitalOcean.

Startup GitLab’s Co-Founder & CEO Sid Sijbrandij said

Agile processes are especially important to a new startup looking to get a product out the door and to start collecting feedback on it. While Continuous Integration (CI) is necessary, it can be costly. This past April, we partnered with DigitalOcean to help make CI faster and more affordable. In just six months, GitLab.com users have leveraged DigitalOcean Droplets to execute over 1.1 million builds. The launch of Hatch will be yet another great resource for new and growing teams. It’s great to see DigitalOcean focused on supporting startups and we’re excited to see the amazing companies and products that come out of Hatch.

DigitalOcean’s investment in community programs has been a cornerstone of the company’s success. The Hatch program is another example of the company’s focus on ensuring developers and high-growth startups can seamlessly launch, scale, and manage any size application.

To learn more about Hatch, please visit https://www.digitalocean.com/hatch

About DigitalOcean

Founded in 2011, DigitalOcean is a cloud platform focused on simplifying the complexities of infrastructure for software developers. DigitalOcean has become the second largest and fastest growing cloud computing platform in the total number of public facing apps and websites, according to Netcraft.com. The company has raised $123 million in funding from Andreessen Horowitz, Access Industries, IA Ventures, CrunchFund, and Techstars. The company is headquartered in New York City with data center regions throughout the world. For more information, please visit Digital Ocean

|In: Incubators|Last Updated: | 0 Comments

Lot of innovations are coming up in the Fintech space and the launch of the Unified Payments Interface (UPI) just makes the space even more competitive. One of the critical driving factors of the innovation in the ‘Financial Tech Space’ is due to the increasing penetration of mobile phones, affordability of internet (2G/3G) and sky-rocketing use of Digital Currency (Closed and Semi-Closed Wallets).

Gone are the days when you had to stand in long queues to get your bank’s pass book updated or withdraw/deposit money. In fact, all these activities including opening a new account are now possible with the click of a button !!! Though Payment Services (Paytm, Freecharge etc.), P2P Lending (EasySalary, LendBox etc.), Personal Finance Services (BankBazaar, Capital Float etc.) are some of the sectors that have seen major growth and investor interest; there is still lot of room for startups to innovate in the ‘Fintech Sector’.

A startup incubator from well known Financial Brand like Axis Bank, India’s third largest Private Sector bank could just bring a huge delight for entrepreneurs in the Fintech Space.

Thought Factory : Startup Accelerator from Axis Bank

Axis Bank has partnered with Amazon Internet Services, Payments product company VISA and Singapore based Oversea-Chinese Banking Corporation to set up startup accelerator Thought Factory in Diamond District in Bengaluru. The major focus of Thought Factory would be Financial Technology Space and it would on-board it’s second batch of startups next month.

The incubated startups would be focusing on ideas built on emerging technologies like AI, Big data analytics, Block Chain, Robotics and much more. These ideas could take the consumer banking experience to the whole new level. The KPMG Fintech Report – 2016 also points that the next wave of Indian Fintech Startups would be from these areas !! First batch of startups are already live in Mumbai and the second batch will begin this month & they might be based out of Bengaluru.

The launch was attended by Axis Bank executives – Rajiv Anand, Executive Director (Retail Banking), Amit Sethi, President & CIO amongst others. Serial tech-entrepreneur Vishal Gondal, Founder & CEO of GoQii, Sanjay Swamy, Entrepreneur & prominent Angel-investor, Senior executives from VISA and Amazon Internet Services were also present at the event.

Commenting on the launch, Rajiv Anand, Executive Director (Retail Banking), Axis Bank said

We are excited about the way financial industry is evolving and how millennials are re-imagining the industry. ‘Thought Factory’, our innovation lab is an endeavor to build on the ideas of innovators that can radically change consumers’ life in Banking and beyond. With this initiative, we are creating a vibrant ecosystem of Global Banks, startups & tech innovators.

The Keynote Speaker of the event was Tenith Adithyaa, 18-year old inventor & innovator from Tamil Nadu who spoke about his inventions.

Thought Factory : Industry Partnerships

For the accelerator programme, Axis Bank has partnered with Zone Startups. At the end of 3-month long incubation programme, Axis Bank in association with Zone Startups would organize Investor Day to facilitate funding for the short-listed startups.

Thought Factory would also have external mentors on-board that would support the startups in their journey. It is also working with NASSCOM 10K, VC partners, Global Banks etc. in order to create a healthy and vibrant tech eco-system and to create a culture of ‘Co-Creation‘.

Additionally, Axis Bank has also launched ‘Hack for Hire‘ programme for identifying talent from across the country through Hackathons for the in-house innovation team at Thought Factory

Thought Factory : How to apply

In order to be a part of the Thought Factory, your startup needs to be a registered Indian entity trying to create it’s mark in the fin-tech sector. There is no cost & no equity (taken by Axis Bank) if your startup is selected for the Axis Bank’s Thought Factory.

To know more about Thought Factory Program, it’s structure etc., drop a mail to to thoughtfactory@axisbank.com or visit bit.ly/thoughtfactoryapply

Thought Factory : Fin-tech meets Health-tech

Though Digital Wallets have been widely adopted by the Indian consumers, contact-less payment via Wearables could see an up-trend with the #AxisActive. Axis Bank in collaboration with GoQii launched #AxisActive, a fitness band with which you can make Payments at PoS of retail outlets.

For every 70,000 steps you walk, you earn 500 Axis eDGE reward points. So go ahead, turn anytime into fitness time. #AxisActive is a perfect marriage of Fin-Tech and Health-Tech 🙂 Now, earn reward points for burning calories with this innovation from GoQii and Axis Bank. More information about #AxisActive is available here

Thought Factory : Closing Thoughts

Given the deep-rooted expertise of Axis Bank in the Financial & Banking sector, Thought Factory looks the right step taken by them to be a part of the vibrant tech-startup eco-system.

To know more about the Thought Factory Program, it’s structure etc., drop a mail to to thoughtfactory@axisbank.com or visit bit.ly/thoughtfactoryapply

|In: Incubators|Last Updated: | 0 Comments

Reinforcing their commitment to fostering innovation and entrepreneurship as a step towards making Digital India successful, Department of Science & Technology (DST), Government of India, Intel Technology India Pvt. Ltd and Society for Innovation & Entrepreneurship (SINE), IIT Bombay have collaborated to launch the Collaborative Incubation Program for Hardware and Systems Startups Program.

This is a unique program wherein the industry, academia and Government have come together to support hardware and systems-based start-ups in the country through mentoring, training, lab facilities, hardware kits, prototyping, business services,  funding, etc.

The announcement was made in the presence of Prof. Ashutosh Sharma, Secretary, Department of Science and Technology, Government of India, Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, Government of India, Nivruti Rai, General Manager, Intel India,Vice President, Platform Engineering Group, Intel, Prof. Devang Khakhar, Director of IIT, Bombay.

Collaborative Incubation Program for Hardware and Systems Startups

  • The Program will address gaps in the hardware and systems start-up ecosystem that companies face in product design, development, commercialisation, and creating scale for their solutions.
  • DST, Intel India and SINE aim to support up to 20 start-ups under this Program, and the call for applications for the first batch will be announced in early August 2016.
  • During the year-long Program, start-ups will be supported for six months on-site at SINE, IIT, Bombay or Intel India, Bengaluru. After a period of six months, the start-ups’solutions will be showcased to investors and industry players at a demo day, post which, the Program will extend virtual support for another six months.
  • Participating start-ups will be incubated through intensive training periods, one-on-one mentoring, technology related support from Intel experts, business service support from SINE, as well as prototyping and manufacturing support.
  • Intel India will build capacities through mentors, and provide technology related support for productization, and facilitate ideation, design thinking, prototyping workshops and manufacturing support through industry experts.

Intel India’s Innovation and Entrepreneurship initiatives

  • Intel India has been at the forefront of enabling innovations and entrepreneurship among students, professionals, researchers and entrepreneurs.
  • Towards this, the company has been driving multiple interventions, including its flagship program – Intel-DST Innovative for Digital India Challenge – which has helped enable six entrepreneurs to change their ideas into actual market solutions, the Intel India Maker Lab, the Atal Tinkering Laboratories, Academia engagements with 200+ engineering institutes and incubator centers, the set-up of 100 Internet of Things (IoT) centers across universities that promote IoT capacity building, design thinking, prototyping and fabrication, among other projects.

Nivruti Rai, General Manager, Intel India, Vice President, Platform Engineering Group, Intel said

Intel has a strong focus on accelerating innovation and entrepreneurship in India, and we are committed to help enable startups in the systems area, both hardware and software. Along with DST and SINE, IIT Bombay, Intel India will provide the critical support these starts ups need to be able to excel in creating market ready products and solutions.

H K Mittal, Advisor and Head, NSTEDB, DST, Government of India said

Department of Science and Technology (DST) is deeply committed to supporting technology and entrepreneurship initiatives that are of relevance to national needs. We have had very positive experiences in the past working with both Intel and SINE in the areas of innovation and entrepreneurship. For the first time, DST, Intel and SINE are collaborating to incubate hardware and systems startups in India. I am very excited to be part of this collaborative effort that helps startups to accelerate their product journey and scale their business.

Prof. Devang Khakhar, Director of IIT, Bombay said

SINE is one of the pioneers in incubating product & IP-based startups in India, and the new, collaborative, sector-specific program is further evolution of its activities.  The collaboration with Intel will bring in corporate expertise to give new hardware & systems companies in India a vital competitive edge and fast-track to growth. SINE has so far focused on start-ups from IITB. This new initiative, supported by DST, will extend SINE’s role to help start-ups across India and increase IIT Bombay’s contributions to the ecosystem.

Society for Innovation & Entrepreneurship (SINE), IIT Bombay

Society for Innovation & Entrepreneurship (SINE) is the business incubator at IIT Bombay, and supports technology start-ups that are based on products or intellectual property. It has been supporting start-ups since 2004 and has so far supported more than 80 starts-ups. Majority of SINE supported star-ups have become revenue generating, with several having reached Rs. 50-100 crore in revenue, and many start-ups having raised multiple rounds of funding.

|In: startups|Last Updated: | 0 Comments

Microsoft Accelerator at Bengaluru is now taking applications for its Winter 2016 cohort. These applications are open to technology and technology enabled startups in any vertical.  Scale Up is focused on helping later stage startups in growing traction. The High Potential program [Hi-Po] is designed for series stage startups, where corporates work with startups and Microsoft Accelerator in order to speed up their business potential.

Image Source* – e27.co

Launched in 2015 – these programs have received tremendous traction with leading corporates like Citibank, Patni, Reliance and Kyron partnering with Microsoft Accelerator. The program has also seen the maturing and success of startups like Reverie, Altizon and Aureus Analytics who are now closely working with corporates from Microsoft’s own corporate customer network.

Over the years, the program has received over 3500 applications till date. Ravi Narayan, Global Director, Microsoft Accelerator said

The Indian startup ecosystem is evolving rapidly and so are the needs of startups. Through the common application process for @acceler8, we can identify the right fit for applicants and recommend the right set of interventions.

Applications for these programs will also be eligible for screening and recommendation to Microsoft’s partners under the @cceler8 program. Through a single @acceler8 application, eligible startups will be recommended for programs run by Microsoft’s Partner Accelerators. These include Reliance’s GenNext Hub, ISDI and AIM Smart City, which is the latest addition to the list.

The final date for application to the Hi-Po and Scale-Up programs is 10th August 2016. To know more and apply visit the@cceler8 website.

|In: IIT Mumbai|Last Updated: | 0 Comments

SINE- Society for Innovation and Entrepreneurship – the technology business incubator hosted by IIT Bombay, has just celebrated 12 years of its existence. What started as an IT incubation pilot project was formally set up as a non-profit society on 15th April, 2004, to incubate start-ups in all technology domains to address the lack of an entrepreneurial ecosystem. Today, IIT Bombay has a number of entrepreneurship -related initiatives, such as the DS Centre for Entrepreneurship, which offers formal academic courses; eCell– a student-led centre, and several R&D centres aimed at translational research.

All these together with start-ups, entrepreneurs, investors, service experts outside the campus, rapidly are merging into what is being established as the “Powai Valley”. And SINE has today grown into a leading academic-linked incubator in India.

SINE has been the launch pad for over 80 product-based entrepreneurial ventures out of IIT-Bombay since its inception. More than half have graduated from incubation after becoming revenue-generating companies, several got acquired by larger companies, and some have also failed.

Many have raised one or more round of funding, offering exit opportunity to SINE’s equity stakes in the companies. SINE currently incubates 27 start-ups, and more are in its pipeline. Current start-ups are in varied areas such as fin-tech, med-tech, clean-tech, big data, security, media.

Entrepreneurship environment for technology product based start-ups is still far from being mature in India. To address this gap, SINE has focused on product & intellectual property- based technology start-ups. Out of the total start-ups incubated so far, 25 companies are direct spin-offs of IIT Bombay technologies, and 6 are focused on social innovation via technology. 22 are founded or closely mentored by IIT-B faculty.  Nearly half of its companies have been able to raise multiple round of funding, several have crossed valuation in multiple of 100 cr., and few have achieved or close to achieving revenue of Rs. 100 crore

Sharing her sentiments at the anniversary celebration, Ms. Poyni Bhatt, COO, SINE says

The entrepreneurship initiative started in early 2000 with SINE at IIT Bombay, has now become mainstream not only within the campus, but also influenced the environment around in Powai, Mumbai. The entrepreneurial risk appetite amongst students and faculty-interest in technology commercialization via start-ups have exponentially increased over the years.

SINE offers incubation support for up to 3 years. Incubated companies get workspace, seed support, easy access to IIT Bombay labs, technical and IP resources, business planning and mentoring, and expert services on softer terms. Association with the incubator also brings visibility and credibility for the startups, because of the due diligence and validation that happens prior to admission. SINE also offers prototype support to students in terms of money as also setting the first tinkerer’s lab at IIT Bombay.

The incubator is set to expand the depth and width of its activities. It aims to form partnerships with corporate entities as institutional mentors and financiers under their CSR initiatives. Plans are underway to enhance its capacity to house 50 plus start ups, and set up domain specific programmes in sectors such as bio/med tech and hardware products.

Details of a few graduate start-ups

For more details, please visit their website SINE IITB

|In: Business|Last Updated: | 1 Comment

National Instruments [NI] India has launched the NI India Business Incubator Program and announced the expansion of their R&D Center in India. Both these initiatives aim to support the government’s Make in India program and enable Indian engineers to become global knowledge partners in driving innovation and development across industries and domains.

The expansion of the India R&D Center ensures that NI has access to the top talent instrumental in building a platform that meets the needs of all engineers and scientists today. NI works with leading universities to hire the best and brightest talent within the region and provides world-class, formal and on-the-job training to create a long-term and sustained career progression.

Scott Rust, senior vice president of Global R&D at NI said

We strongly believe we can help the Indian startup ecosystem overcome technological hurdles and succeed faster. Our platform provides the fastest way for engineers and scientist to access new technology and accelerate productivity, innovation and discovery. By providing access to NI’s platform and technologies, we are investing in future innovators and contributing towards sustainable development in all markets that we serve.

Through NI India’s Business Incubator Program, NI will provide increased access to NI technology, technical training and support to shared local communities like domestic Small and Medium-sized Enterprises [SMEs], academic incubation centers and startups.

Jayaram Pillai, Managing Director, NI India added

For Make in India to succeed and sustain, manufacturing in India should bring more benefits to the table than just cost of labor. Companies can differentiate themselves by adopting smart technologies to reduce defects and improve quality. NI’s technology provides a flexible and powerful platform to build these intelligent systems that power the factory of the future. Startups are an integral part of building the future and we believe that the NI India Business Incubator Program will contribute to the Make in India initiative.

To extend its reach and maximize the impact of the Business Incubator Program, NI is partnering with mission-aligned local organizations, as well as experienced technology and business consultants, to provide world-class support and assistance to the applicants. It is also aligned with the flagship initiative of the Government of India, Start-up India, which strives to build a solid eco-system to support innovation, promote domestic startups and generate viable economic growth by generating large-scale employment opportunities.

These forward-looking actions of the Indian Government and the abundance of engineering talent will significantly contribute to Bangalore’s transformation into the home of some of the best technology companies in India and abroad.

For more information on the NI India Business Incubator Program, please visit NI India Business Incubator details page.