GenNext Launches Its Fall Batch Of 10 Startups
GenNext Innovation Hub, an accelerator programme by Reliance Industries (RIL) and Microsoft Ventures on Friday (11 September) began its second ‘Fall 2015’ batch by announcing the names of ten startups.
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The startups are chosen on the basis of their differentiated technology and business process offerings in areas such as instant credit scores and lending, instant bill payment in restaurants, real-time advertising on public screens, IoT applications, RIL said in a joint statement with Microsoft Ventures.
From the 10 startups, two are from Israel, namely In*Q*Sec and eLoan. In*Q*Sec will work on a new idea to enable continuity of network operations, and eLoan will explore the area of instant peer to peer lending.
“The launch of the Fall batch at the GenNext Innovation Hub startups marks the beginning of a new working partnership between RIL and the startup ecosystem of India and Israel. We hope to see many new startups working closely with GenNext in exponentially growing their business,” said Dr. Raghunath A. Mashelkar, GenNext Chairman and RIL Board Member.
“The very fact that we have startups from Israel which is the startup nation shows the importance and the growing maturity of India and brings out the thought leadership work done by Microsoft Ventures here in India and globally. Our endeavour is to encourage such cross pollination of startups amongst continents and spruce up universally the Innovation culture,” said Rajinish Menon, Director, Microsoft Ventures.
GenNext began operations last year in October 2014. “Through this programme, the startups also get the opportunity to explore synergy with RIL and do pilot projects in their business units. From the first batch a couple of them are already exploring partnerships with RIL,” says Amey Mashelkar, Programme Lead at GenNext.
GenNext Innovation Hub is also working to start a new global partnership programme to collaborate with organizations in US, Europe and Asia to engage with their startup ecosystems.
The startups on-boarded for the GenNext Innovation Hub’s Fall ’15 batch are:
1. AlgoEngines, an operational intelligence and analytics company for IoT applications
2. Binge, an F&B payments solution that brings the user’s offline bill online
3. CreditSeva, credit profiling of non-mainstream banking customers
4. Curefy, audio-video call based consultation with doctors
5. eLoan, a peer-to-peer lending platform
6. Fieldomobify, cloud based mobile field force management solution
7. In*Q*Sec, a secured communications platform that provides peer-to-peer connectivity amongst Networks, Systems and Devices to enable Continuity of Operations (COOP)
8. Instakash, an online lending marketplace for SME loans
9. Pickcel, an ad aggregation platform to create campaigns on the public screens
10. VDeliver, a fast & efficient on-demand delivery service enabling local business