Tata group’s design company, Tata Elxsi, launched an incubation centre to nurture and support aspiring entrepreneurs. The launching of incub@TE, comes close on the heels of other IT biggies like Microsoft launching its own platform to support start ups and IBM helping start ups in many ways. Tata Elxsi will also be taking a small stake in lieu of its incubation help for startups.
Recently IBM and telecom incubator Startup Village in Kochi entered into a memorandum of understanding (MoU) to help young professionals with IT knowledge and skills. Even Microsoft launched an incubation programme this year, under which hand-holded early-stage startups that are trying to do big make it big in cloud, internet and mobile technologies.
The initiative is designed to create the next wave of product and service oriented technology startups in the areas of mobile, social, local, enterprise, cloud and embedded applications. Candidates can apply by registering online on www.tataelxsi.com
Speaking to Financial Chronicle, Tata Elxsi, VP, strategic initiatives, Rajesh Kumar, who is also overlooking the whole operation, said, “We will be incubating about four to five startups in the first year. We have a location in old airport road, Bangalore where about 40 people can work. The mentoring and infrastructure support will be for about 18 months to 24 months”.
He added, “This platform will enable startups and aspiring entrepreneurs to convert their innovative ideas into commercially viable products and services, It will also help entrepreneurs associated with the program gain better market visibility, acceptance and credibility ”.
The areas that the company is looking into are emerging technology, education, mobile, healthcare and others. Kumar, said, “The idea is to become co-promoter and stake holders in companies working in areas where we don’t work”. The maximum stake the company is looking at is 10 per cent in those startups.
Speaking during the launch of the program and the opening of the incub@TE centre in Bangalore, Tata Elxsi, MD and CEO, Madhukar Dev, said, “Tata Elxsi has been focussed on technology and new product and service development and nurturing talent and innovation has always been our way of life. We looks forward to working with aspiring, young entrepreneurs to help them realise their full potential, by providing infrastructure, expertise and support in access to key markets and funding”.
Read original : mydigitalfc