India’s multinational conglomerate Aditya Birla Group on Thursday launched Aditya Birla Bizlabs to collaborate with start-ups and provide them the opportunity to scale up in a large operating business environment.
Aditya Birla Bizlabs would essentially be a 20-day mentorship programme that could eventually result in funding for startups that have innovative offerings in retail, financial services and mobility domains.
The application os open and interested startups can apply here as deadline for applying is 2nd September 2015. Moreover, application is open to startups from around the world. Global companies could look at Aditya Birla Bizlabs for an opportunity to scale-up in India.
Select start-ups will receive investments from the group. “Our objective at Aditya Birla Bizlabs is to enable the combination of technology and ingenuity of the start-up ecosystem with the power and reach of the group’s businesses to create a platform to foster growth and rapidly scale up businesses. We are excited with the prospect of working with start-ups on a collaborative platform” said D Bhattacharya, group executive president, Aditya Birla Group.
Startups short-listed for Bizlabs will be provided all the access to the CEOs and CXOs of the Aditya Birla Group, and the chance to network with reputed industry experts. In addition, the selected start-ups will have the opportunity to scale up by entering into a commercial arrangement with the Group’s businesses. They may also receive an investment from an independent arm of the Aditya Birla Group.
Aditya Birla Bizlabs will be looking at start-ups that offer innovative solutions in retail, financial services and mobility. These are the industries where the group enjoys leadership through companies like Idea Cellular, More, Pantaloons, Madura Fashion & Lifestyle, and Aditya Birla Financial Services.
Notably, Aditya Birla Bizlabs is not an accelerator or an incubator program. It is also not a venture capital entity. It is a platform that is differentiated with the objective to provide startups with an opportunity to scale-up their business offering via access to the large customer base of the Aditya Birla Group.
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