HDFC Life Launches 'Futurance' Phase 3 to Incubate Startups in Association with IvyCamp

HDFC Life, one of India’s leading life insurance companies and IvyCamp, an initiative of IvyCap Ventures, today jointly launched the third phase of Futurance - the corporate engagement program to identify startups that are building innovative and next-gen capabilities in the insurance sector.

Last year in June, HDFC Life and IvyCamp announced the first phase of the initiative called Futurance followed by its second phase in December 2019. After a successful conclusion of phase two where three startups across health-tech and AI solutions were shortlisted, phase three of Futurance program is now underway. Phase three of the program will scout for startups across the following use cases:

1. Blockchain Application: Policy Management from start to end
2. Virtual Reality for Customers: AR/VR solutions with AI to enhance sales and servicing in Insurance
3. Non-invasive medical innovation: Alternate solutions to replace medical tests
4. Insta Agent: AI based sourcing, selection and management of sales agents

The third phase of Futurance is now live at ivycamp.in/programs/hdfclife-poc-corporate-startup-program.

Speaking on the launch of the third phase, Parvez Mulla, Chief Operating Officer – HDFC Life, said, “HDFC Life has focused on leveraging technology to offer value at every stage of the relationship with its customers and partners. Futurance was designed to build a bridge for start-ups to work alongside us. Futurance phase 3 reinforces our commitment to work with the best brains to provide long-lasting technology solutions."

"The pandemic has given a fillip to technology across industries. COVID-19 has tested us but our investment in digital has given us the techedge. Our agility and tech-readiness has enabled us continue business during the pandemic, in an uninterrupted manner,” he added.

Prasun Gajri, Chief Investment Officer – HDFC Life added, “Every business makes investments with certain long term objectives. We at HDFC Life identify technology as an enabler and have consistently ensured that we invest in avenues that yield rich results. The Futurance program is one such initiative. The launch of Futurance phase 3 is proof that a talent program can deliver great results and also showcases the immense potential of start-ups."

“Our partnership with HDFC Life has proved to be powerful in the past in strengthening the Startup-Corporate Connection in the ecosystem. Today, we have launched the next phase of Futurance that aims to further empower the fraternity, give a boost to entrepreneurship, and help businesses navigate through current times successfully,” said Anju Gupta, Co-founder and President of IvyCamp.

“We believe that our program will address the current challenges in the insurance sector, particularly in these new post COVID-19 times and help scale startups that have truly created opportunities in these tough times, weathered the difficulties and stayed on the path of innovation and problem solving. We wish good luck to the companies participating in phase three of our Futurance programme,” she added.

The second phase of Futurance had successfully shortlisted three startups - Wealthy Therapeutics, a health-tech startup; Worxogo, an AI sales coach; and Pulse Active Stations Network, a healthcare startup.

About HDFC Life

HDFC Life Insurance Company Limited (formerly HDFC Standard Life Insurance Company Limited) ('HDFC Life'/'Company’) is a joint venture between HDFC Ltd., India’s leading housing finance institution and Standard Life Aberdeen, a global investment company.

Established in 2000, HDFC Life is a leading long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as Protection, Pension, Savings, Investment, Annuity and Health. As on June 30, 2020, the Company had 36 individual and 12 group products in its portfolio, along with 6 optional rider benefits, catering to a diverse range of customer needs.


HDFC Life continues to benefit from its increased presence across the country having a wide reach with 421 branches and additional distribution touch-points through several new tie-ups and partnerships. HDFC Life currently has over 270 partners (including master policyholders) of which more than 40 are new-age ecosystem partners. The Company has a strong base of financial consultants.

About IvyCamp

IvyCamp is an initiative of IvyCap Ventures, a Venture Capital Fund management company. IvyCap invests in early to growth stage entrepreneurs leveraging Global Alumni networks from the IITs, IIMs and other institutes to support entrepreneurs through a combination of expert interaction, training, funding, corporate engagements, and acceleration.

IvyCamp platform has more than 5,000 alumni as entrepreneurs, mentors and investors, 50+ service providers, 10+ funding in IOT, AR/VR, Big Data, tech start-ups, 25+ mentoring deals. Many of our mentors and startups have partnered in long term engagements, targeted at helping the startup work through business and technical issues on an ongoing basis. We regularly conduct events across institutes, targeted at our network supporting the entrepreneurship ecosystems of the institutes and their startups as they graduate. Many of our startups have engaged with our corporate partners through exposure via our programs and startup pitch events.

IvyCamp, Sonata Software Launch Open Innovation Program; Invites Applications from New-Age Tech Startups

IvyCamp and Sonata Software today announced a strategic partnership to launch an Open Innovation Program. Sonata Program is specially designed by IvyCamp for Sonata Software, and seeks to invite startups working on new-age technology solutions in IOT, AI, Machine Learning, Real-time analytics, Mobility, others. IvyCamp will shortlist the start-ups that apply basis their business model, financial, legal and HR due diligence and technology prowess. IvyCamp will leverage its team of global mentors who are alumni of Ivy League colleges such as IITs, ISB, BITS, others for the evaluation process. Those selected will get a chance to pitch to Sonata Software senior management for investment.

Sonata Program is now live on IvyCamp platform here to apply, that already has more than 3000 startups registered. Sonata Program will invite applications through the year, and every quarter IvyCamp will shortlist startups for investment evaluation by Sonata Software. All shortlisted startups will get access to a business and technical evaluation report by IvyCamp mentor experts, a due diligence report and access to 25,000 in corporate credits across its various partners on its platforms.

IvyCamp’s strategic partnership with Sonata Software is in line with its overall direction and focus of bridging the gap between corporates and outside innovation. IvyCamp has designed and led several such corporate start up engagement programs with HDFC Ergo, Axis Bank, Oracle Accelerator.

Dr. Anju Gupta, Co-Founder & President of IvyCamp said, “At IvyCamp, building and facilitating an ecosystem that enables corporates to engage with startups to create new funding and customer engagement opportunities for entrepreneurs and helping to bring strategic innovation for corporates, is a key area of focus for us. Though individual goals of corporates vary, at the core, these engagements are targeted to find new and disruptive technologies or business models, foster intrapreneurship, create strategic relationships, and create financial returns. We are thrilled to partner with Sonata Software and welcome them into our ecosystem”.

Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt. Ltd. says: “IvyCamp has built its Brand on the back of an illustrious Alumni Network – The quality of mentors this platform attracts is unparalleled. Our connect with Ivy League educational institutes is another feather in our cap! And now with a corporate partner like Sonata Software, IvyCamp is fundamentally creating a global ecosystem in which entrepreneurs are empowered to scale, grow and explore new markets. The future is going to happen in India and IvyCamp will be the enabler to bring innovation to market.”

“Fostering the cross-pollination of ideas and capabilities can serve as a catalyst for transformational innovation. We are thrilled to be partnering with IvyCamp in our efforts to forge strategic relationships with startups. IvyCamp has successfully demonstrated their depth and expertise with the startups’ ecosystem,” said Mr. Srikar Reddy, CEO, Sonata Software. “Sonata at its core is an innovation-focused company. Through our Open Innovation Program, we are proactively seeking collaborations with start-ups to give faster access to Sonata in new technologies and we will help the start-ups by taking them to market more effectively.”

IvyCamp Inks Partnership With Leading Corporates

IvyCamp, India’s unified technology based platform for startups, announced their partnership with leading corporates to offer the startups on its platform, complimentary and discounted packages for solutions that include technology credits, marketing, accounting, communication, and productivity solutions. Start ups on IvyCamp platform can now access world-class products and services from Amazon Web Services, IBM, mGate India, Exotel, CMO Axis, Instamojo, Profit Books, Ozonetel, DigitalOcean and Vibrant App.

This initiative is another significant offering from IvyCamp in its ongoing effort to support early stage startups to cultivate and foster innovation, support IP generation, and help transform innovative ideas into commercial value that will influence the economy and technical progress.

“The platform has generated a lot of interest from corporates looking to engage with startups and from start ups on our platform, alike. This mutual win-win is opening doors to more engagement. For early stage startups on our platform to get access to technology, communication and marketing services at complementary and/or discounted rates is invaluable help in being able to scale up", said Anju Gupta, President, IvyCamp.

Prabhakar Jayakumar, India Country Manager, DigitalOcean said, “The technology startup sector in India has exploded in the past few years, and our goal is to fuel this growth and support the innovation landscape. We simplify the complexities of infrastructure for developers so they can spend time on things that matter, like making great products. Partnerships like this give us an opportunity to reach out to a large base of start ups and to enable entrepreneurs to chase their dreams because they don’t have to worry about infrastructure overheads.”

Devika Nagarkar, Partnership Head, InstaMojo, said “About 47 million small and micro businesses are still looking for a payment solution that can meet their needs. Instamojo is filling the gap in the market with its offerings across mobile and web. One can get started in two minutes and start creating payment links to collect money from their customers online via any desired media - including WhatsApp, social media and SMS. We have more than 250,000 sellers with us today and hope to keep expanding our family. A partnership like this one helps us take a big step in that direction”.

Talking about his the experience from a corporate point of view on working with startups on IvyCamp platform, Shivku Ganesan, CEO, Exotel India, said, ”We understand what it is like to be an early stage tech startup in India. We have been there, and the struggle is real. Working with startups through partnerships like this one is a way for us to give back. We’d like to help tech startups build great products that focus on customer communication and satisfaction right from the start of their journey”.

Facilitating engagement with corporates for start-ups on their platform is an ongoing effort by IvyCamp. Previously, IvyCamp's RIOT 3 competition that enabled emerging technology startups to connect with corporates for potential orders, synergy, acquisition, acqui-hiring, funding and the likes. For corporates, it was an opportunity to tap into startups to identify and provide solutions to them. The earlier editions also saw participation from large corporates such as Tech Mahindra, TATA, Reliance, etc. Indian and foreign Government agencies such as Smart Cities Commission and Government of New South Wales and Government of Ecuador.

IvyCamp And NASSCOM Announce The 3rd Season of Rendezvous IoT- India’s Platform For IoT Startups, VCs, Investors, Experts And Corporates

IvyCamp, an initiative of IvyCap Ventures, and NASSCOM 10000 StartUps under the aegis of CoE-IoT (Centre of Excellence in Internet of Things) have announced their third season of Rendezvous IoT (RIOT-3), supported by the Government of Maharashtra and Maharashtra Industrial Development Corporation.

The event which focuses on IOT, Artificial Intelligence, Machine Learning, VR and Hardware Space startups, will enable them to connect with corporates for potential orders, synergy, acquisition, acquihiring, funding and the likes. For corporates, it is an opportunity to tap into startups to identify solutions that could address their business problems.
The event is to be held on the 10th at the 91 SpringBoard office in Mumbai.

The earlier editions of the event, RIOT-1 and RIOT-2 witnessed hundreds of startups and investors participating in the event. The total amount of funding awarded has been over Rs 7.5 crores across both the editions.

The earlier editions also saw participation from large corporates such as Tech Mahindra, TATA, Reliance, etc.Indian and foreign Government agencies such as Smart Cities Commission and Government of New South Wales and Government of Ecuador also participated in the event.

The NASSCOM and IvyCamp's alliance will look at developing strategies and initiatives to bolster the IOT movement in Indian StartUp Ecosystem including cultivating innovation, educating the investment community and fostering partnerships between industry and the startups.

Speaking on this occasion, Anju Gupta, President, and co-Founder - IvyCamp said, “IoT/AI/VR/Machine Learning is a massively untapped opportunity and market in India and Globally. Our Partnership with NASSCOM and activities like RIOT are focused on providing the focused support and connects that startups in these areas need. RIOT 1 and RIOT 2 connected startups with technical experts and investors. RIOT 3 is focused on the third much needed critical pillar of corporates, which can provide the real world application, market, and resources. This corporate- startup connection is also vital to educate our innovators on the real world problems corporates are trying to address - and through this, bring more practically driven innovation into our startup ecosystem.

Research by McKinsey Global Institute estimates the impact of the Internet of Things on the global economy will be $6.2T by 2025. NASSCOM and Deloitte recently pegged the IoT market in India at $5.6B in 2016, growing to over $15B by 2020.

IvyCamp Expands Presence to Silicon Valley, California

IvyCamp, India’s unified technology-based platform that leverages the Global Alumni Network to help entrepreneurs announced their international expansion plans to Silicon Valley. The company is in the process of onboarding marquee Angel investors, Early stage funds and Mentors from the Valley that are actively looking to work with early stage Indian Startups.

The Silicon Valley chapter of IvyCamp will undertake initiatives to support Indian startups with planned development, guidance in venture creation and provide access to global networking and capital. In addition, it will attempt to create platforms for stakeholders from the private sector, large corporations and innovation agencies that have been collaborating and investing in the Indian entrepreneurial ecosystem.

Vishal Gauri, Co-Founder IvyCap Ventures Advisors Pvt. Ltd will lead the Silicon Valley operations. Commenting on the announcement, Vishal said, " I think the ecosystem in the Valley is the most vibrant in the world and the Indian Startup ecosystem will benefit greatly from the expertise that the mentors and investors from the Valley will bring in. Startups in India are working on ideas that have a global scale and we see a large opportunity here for them to expand and collaborate in Silicon Valley".

Dr. Anju Gupta, President of IvyCamp remarked, "We already have a number of Alumni from Silicon Valley on our platform that engage with our Indian Startups. This move will expand the support we can provide our Indian Startups also support the growing interest from Alumni in that region."

IvyCamp operates a unique model where it leverages its robust alumni network around the world to assist startups and entrepreneurs in India. This can be in the form of mentorship, funding and networking. IvyCamp is already working with multiple startups on its platform on this model and has assisted startups such as GrabOnRent, FTCash, IdeaBubbles and Mr Hot Foods.

IvyCamp and Zhucloud Partner to Promote Investment from Chinese Investors into the Indian Startup Ecosystem

IvyCamp, an initiative of IvyCap Ventures and Zhucloud, an initiative of Incapital have announced their partnership to provide Chinese investors access to Indian startups. The partnership will particularly bring visibility for Indian startups on IvyCamp‘s platform to a large base of Chinese investors via Zhucloud.

Over 30 Chinese early stage VC funds such as Cyber Carrier, Fenghou Capital, Legend Capital, Plum Ventures, Grand View Capital, K2VC, Hill House Capital, Fusion Capital, Heli Capital and Chengwei Capital, are a part of this initiative. These are early stage funds that invest from USD 200K up to USD 2 Million in early stage startups and are expected to scout for and invest in Indian startups in Healthcare, Fintech. E-commerce and IOT.

Over the next few months the partnership will facilitate pitches by startups to this pool of investors by organising pitch events in the cities of Mumbai and Bangalore in November 2016. The event is designed to provide a platform to Chinese investors to interact directly with Indian startups.

Mr. Eric Shu, Director of Incapital said : "We are very excited to partner with IvyCamp that has a strong global Alumni connect which mirrors our philosophy. We have seen interest from the Chinese investment community to invest in Indian Startups and through this partnership we aim to facilitate these investments"

IvyCamp & Zhucloud will also cross leverage knowledge, by getting Chinese mentors who are highly accomplished in their fields of work and leading Chinese Incubators and Accelerators onto the IvyCamp platform to enable huge value add to the Indian startup ecosystem.

Dr.. Anju Gupta, President & Cofounder of IvyCamp said: "This partnership is another step forward in promoting our Indian startups globally and helping them get the resources and knowledge they need to be successful. Our philosophy to leverage the Alumni networks to help entrepreneurs be successful resonates with ecosystems across countries and this partnership is an example of how powerful this connect can be”.

IvyCamp is India's first Unified Innovation and Entrepreneurship Platform, that leverages the Global Alumni Networks to help entrepreneurs become successful. Ivycamp not only supports entrepreneurs but actually helps build new entrepreneurs, by connecting them with mentors, investors, incubation centres and other resources - all built through Alumni networks. In addition, through the platform, Ivycamp partners with educational institutions to connect, support and grow its entrepreneurial ecosystems.

This collaboration is yet another sign of increasing global interest in India’s start-up landscape.As per NASSCOM, India is home to the third largest base for startups in the world. It is a hyper growth inflection point for the Indian start-up ecosystem, with growth, capital and acquisitions all coming together creating a perfect storm. Key indicators such as opportunities existing in the domestic market, access to capital/mentors, and increased M&A and consolidation activities clearly point towards the new evolution of the ecosystem. Given this pace of growth, if the landscape continues to evolve, then by the end of 2020 more than 11,500 start-ups are expected to get established in India, generating employment opportunities for more than 250,000 people.

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