The GenNext Hub, Mumbai based startup accelerator today announced the graduation of 11 technology startup s from its accelerator program. The GenNext Hub is an initiative of Reliance Industries Limited (RIL) powered by Microsoft Ventures to catalyze the startup ecosystem for a digital India.
The event held in Reliance Corporate Park, Navi Mumbai, saw the startup s showcase their businessesto more than 150 investors, influencers, corporate customers and leaders.
The GenNext Hub enables entrepreneur s to build their companies through an immersive, four-month-long program.The success of the program can be measured by the success of the startup s, who have all witnessed significant amounts of traction during the course of the program–getting market validation, developing products, acquiring customers, pivoting business models, evaluating India go-to-market strategy, executing proof of concepts with RIL businesses, onboarding influential advisors and forging strategic industry partnerships.
“At GenNext Hub we are catalyzing a unique startup ecosystem, which rests on the tripod of talent, technology and trust. We spot and encourage ‘talent’, help them harness their ‘technology’ and back them up by putting total ‘trust’ in them. We are supporting several of our startup s from the second batch with strategic partnerships that will help them scale-up rapidly.” GenNext Chairman and RIL Board Member Dr. Raghunath A. Mashelkar.
Mr. Bhaskar Pramanik, Chairman, Microsoft India, added, “Microsoft provides the platform on which innovative companies are being built. Our technologies power nearly 4,000 startup s in the country today and we will continue supporting the startup ecosystem through our various programs.
We have seen some amazing innovation in the two batches that have graduated thus far from GenNext. Some of these have already made a mark in the ecosystem and have even become business partners for Reliance and Microsoft and we hope this trend will continue.”
Startups from the second batch have received several recognitions during the course of the program, that include, Nasscom Emerge 50 2015, YourStory Tech30 2015 and The Economist’s Innovation Award 2015.
The startup s that graduated from GenNext Hub’s second batch today are:
Algo Engines– Provides operational intelligence for wind turbines, met masts, solar plants and other Internet of Things (IoTs).
Efficient Bazaar– A centralized procurement solution for the hospitality industry.
eLoan – The leading Peer to Peer (P2P) lending platform from Israel entering India.
Yigal Alkaslasy, Co-Founder and Chairman
Fieldomobify – Mobile and cloud based field force mobility solution to sales, service and delivery function for visualizing real time activities on the field.
FiTicket– A new kind of fitness membership that provides access to the best gyms and fitness classes in the city.
Noroc Solutions– Enabling offline merchants to accept new age payments without the need for any additional hardware or an app and with minimal learning curve.
Pickcel– The hyper-local advertising platform that help businesses to accelerate their sales within the locality in an easy and affordable way.
Playfiks– An online sports eco-system that helps people to connect, network, schedule and engage in sports, fitness and a healthy lifestyle.
VDeliver– A technology powered, intra city, point-to-point logistics company.
Srinivas Madhavam, Co-Founder and CEO – startup s were mentored on customer development, business models, operational planning, product roadmap, market traction, fund raising and pitching.
The workshops cut across B2B and B2C businesses in diverse sectors such as sports, energy, hospitality, advertising, fitness, financial services, logistics, healthcare, payments and enterprise software.
Domain expertise was provided in intellectual property, product development, online promotions, advertising, PR, financial modeling, communication and pitching. Going forward, GenNext Hub will focus on helping companies scale-up with its “Scalearator” model and evolve from a “Minimum Viable Product” to a “Minimum Viable Company”.
GenNext Hub is now accepting applications for third batch, which will start in April 2016.Visit www.gennexthub.com for more details.