The startup ecosystem in India got a major boost recently when Kstart, a well known incubator initiative of the venture capital firm Kalaari Capital, joined hands with technology company IBM to offer industry specialised mentoring and training sessions to Indian startups.
According to data revealed by a 2015 report by Zinnov and Nasscom, the India is currently at number three position globally in terms of the total number of mushroomed startups, and the fastest in terms of growing startup base.
According to Kstart, all the listed seed-stage portfolio startups will have the chance to apply for the prestigious IBM Global Entrepreneur Programme (GEP). The programme is famous among the entrepreneurs as it provides them world class technical support, business mentoring, networking opportunities with enterprise clients and credits to help the business focused minds in building their applications on the company’s IBM Cloud.
The Kstart portfolio startups will be diligently provided access to IBM technology experts and business leaders. This will help them in developing their market strategies, conquer market alignment and better their technology resources. Kstart participants will also be invited to take part in IBM organised training sessions on product design, cognitive learning and analytics.
IBM’s GEP is aimed at driving engagement and awareness about the startup industry. Under the programme, startups are allowed to apply for up to $ 120,000 in cloud credits to develop and run their own applications on the IBM Cloud.
Having a fund value of $ 650 million, Kalaari Capital has invested in big names like Myntra, Urban Ladder, Simplilearn and Snapdeal etc. Kalaari is hopeful that partnering with IBM will help them provide their entrepreneurs with the right expertise and best tools to climb the success ladder.
According to Nipun Mehrotra, Vice President, Growth Initiatives, IBM India/South Asia, “We believe in creating an environment that can foster innovation, which is why we working with Kalaari Capital to encourage and support the start-up community in their journey.”