Published By: Yuthika Bhargava
Maruti Suzuki-IIM Bangalore partnership for incubation of 26 mobility startups
Maruti Suzuki India on February 26 said it has partnered with Indian Institute of Management Bangalore to foster and encourage innovative startups in the country.
As part of the partnership, the auto giant, along with Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL) - the startup hub at the IIMB, has shortlisted 26 mobility startups for a nine-month extensive incubation programme.
"It will help startups channelise their efforts in bringing industry-ready solutions and becoming large scale businesses," the company said in a statement.
The selected ventures will undergo a three-month pre-incubation journey, during which they will be engaged in various sessions, workshops, peer-to-peer learning activities and receive one-on-one mentoring.
Networking events, mock-pitching events and interaction with investors are the highlights of the initiative, the company said in a statement. Post this, it added, the ventures will be allowed to pitch for incubation and funding and the selected ventures will move further ahead on a six-months incubation journey.
Kenichi Ayukawa, managing director and CEO, Maruti Suzuki India, said,"The incubation program will help the startups become large-scale businesses, and also help the industry with practical and technology-led solutions that bring efficiency and value to business functions."
Prof. Venkatesh Panchapagesan, Chairperson, NSRCEL, said, "Mobility is evolving at a rapid pace in India and is projected to reach 90 billion by 2030, with significant growth expected in ride hailing, shared mobility and more. We are, therefore, proud to collaborate with Maruti Suzuki, who we share a similar drive with, in developing mobility solutions for a better and more connected future."
Together, the two partners aim to deliver fresh thinking and innovative solutions to the existing mobility ecosystem, he added.
The 26 startups which have been shortlisted from over-400 applications received include Blinkin Technologies, Regeno Ventures Pvt. Ltd., Garage on Road, Pinmicro, Gypsee automotive, ClearQuote Technologies India Pvt. Ltd., KulDew Technologies Pvt. Ltd., Automovill Technologies Pvt. Ltd., Gordian Technologies Pvt. Ltd.,Vecros Technologies Pvt. Ltd., ALLMILES, Beebox Studios Pvt. Ltd., HyCube Works Pvt. Ltd., Pi R Square Digital Solutions Pvt. Ltd., Swaayatt Robots, ValetEZ, eShipz.com, Svan Autotech Pvt. Ltd., NewTrace, Rays Aviation Technologies LLP, Otopark Technological Services Pvt. Ltd., Series 5, True Consultancy Assistive Technology, C Electric Automotive Pvt. Ltd., EngineCAL Technology Pvt. Ltd. and CarPod.