Sterlite Technologies Launched $100,000 Startup Seed Fund

Sterlite Technologies Limited, a telecom infrastructure and solutions company, has announced the launch of several initiatives in order to strengthen the company’s vision of a Digital India. The announcement was made at an event held in Aurangabad.

The event saw the announcement of an annual seed fund of $ 100,000 by the company in order to improve and strengthen India’s investment in broadband technology research, by investing in Indian origin technology startups who are working on some innovative broadband deployment technologies.

The company even launched its centre of Excellence (CoE) in Aurangabad at the event. The centre of Excellence spans over an amazing 35,000 sq. ft. and adjoins Sterlite’s 20 million km optical fibre factory. Sterlite’s CoE in Aurangabad is the only such facility in the whole of India dedicated to development and research of fibre optic broadband technologies.

The company has also entered into collaborative partnerships with the Indian Institutes of Technology of Kanpur and Madras in order to do research in ultra high speed broadband. Sterlite Technologies will form a five member panel who will jointly give their advise on fellowship programmes and grants in order to encourage high speed broadband research in the country. The panel would comprise of esteemed broadband experts.

“Through this collaborative partnership, we will explore new idea and create unique solutions for broadband deployment in India,” said Krishnan Balasubramanian, dean, industrial consultancy, and sponsored research, IIT, Madras in a statement to livemint.

According to Dr. Anand Agarwal, chief executive officer, Sterlite Technologies, “Sterlite is uniquely positioned at the confluence of the government’s vision of Digital India, Make in India, and 100 smart cities and the initiatives announced today are aimed at furthering India’s broadband research muscle.”

“Having delivered over 40% of India’s fibre network, Sterlite is playing an integral role in national broadband projects, as well as the back hauling of all data on 3G, 4G and fixed networks. ” added Dr. Agarwal.

 

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