German engineering & electronics giant Bosch which recently announced an investment of 1.2 billion euros in the Asia-Pacific region to develop smart technologies, is betting big on the adoption of Internet of Things (IoT) in India.
The company said that it is investing Rs 1,300 crore in development of IoT space in India. Further, the company is also exploring the option of discovering new tech-based startups in line with its DNA (Discover, Nurture and Align) strategy.
Moreover, the company is looking for a potential collaboration with tech startups in India.
Notably, the company has created an incubator program called BOSP (Robert Bosch Startup GmbH) which the company is bringing to India. Under the program, startups can pitch their ideas and innovations to Bosch, post which the company will take a call with the kind of support to be provided to the shortlisted candidates. Robert Bosch Venture Capital, a part of Bosch Group, will have the final authority of funding the startups.
Bosch is also holding first edition of Bosch DNA Accelerator program in India. As part of the programme, the selected startups will be mentorship, advice and support from experts from Bosch in technology and other allied areas.
Explaining the IoT future in India, Vijay Ratnaparkhe, managing director and president, Robert Bosch Engineering and Business Solutions said, “At Bosch India, we expect the future to be driven by key trends such as digitisation, growing energy needs, urbanisation and better ecological solutions. With the largest development center outside of Germany, Bosch India is committed to offering connected smart manufacturing solutions. While national initiatives, such as ‘Make in India’ and ‘Digital India,’ intend to build the brand and competitiveness of India’s core sectors, digitisation will improve India’s competitiveness while also helping businesses move faster to market.”
Bosch India, on Friday, hosted a smart manufacturing conclave in Mumbai – Bosch Smart Manufacturing Conclave (BSCM). Of the nine core elements of smart manufacturing, Bosch India offered an experience of the APAS robotic arm and Augmented Reality-Virtual Reality demonstration.