NEW DELHI: The Internet and Mobile Association of India (IAMAI) has teamed up with Mobile10X and Napino Auto & Electronics Limited to bring together startup entrepreneurs so that they can realise their true potential and evolve Internet of Things (IoT)-based ecosystem in the country.
Iot.IN is one-of-its-kind initiative and will invite nominations from IoT startups based in Delhi-NCR, Bangalore and Mumbai. It will provide mentorship, investment and partnership opportunities to the select startups. The focus of this initiative is to encourage young aspiring entrepreneurs to create innovative and disruptive solutions around the IoT, which will eventually align the government’s Smart India initiative with the vision of Digital India.
In the past two years, Napino has invested Rs 300 mllion in technology companies at different stages of business cycles. In the next two years, it will invest Rs 600 million and focus on next-generation tech companies in IoT, Blockchain, Big Data and Artificial Intelligence.
Napino director Vaibhav Raheja said: “We want to be at the forefront of innovation and have been continuously supporting entrepreneurs by providing business expertise, engineering and manufacturing support and industry connects. Despite a high rating on innovation and entrepreneurship, India attracts a meager share of VC funding in the world because of gaps in skills, scaling and business development models that entrepreneurs follow.” He said that Napino has five facilities to begin with for this programme.
To a question, he said that Napino was bringing in the hardware and the Cloud support in this programme.
Amazon Internet Services head - India Bikram Bedi who is a senior IAMAI member said the plan was to start at least 150 start-ups in the three targeted cities over the next three years.
About the help from the government, he said the government was helping individual programmes under the "Digital India" programme. He told indiantelevision.com that the programme would be publicised through the large number of members of IAMAI apart from alternative methodologies.
Bedi said: “We are headed to a completed connected world and this will soon be a nine billion dollar industry with shareholders among ISPs, TSPs, and others who could contribute to making India a hub for this sector.”
Through the iot.IN programme, Bedi said, they will be publishing white papers, building proof of concepts around segments which are central to the Digital India vision. The programme will focus on healthcare, automobile, agriculture, transportation, and smart cities. Going forward, the aim is to move into blockchain technology development, artificial intelligence, and also virtual reality.
He said consulting firm Deloitte estimates that India’s mobile data usage will grow to 1608 PB by 2020. 1 PB (or petabyte) amounts to 1,000 TB (terabyte) or 1 million GB (gigabyte).
IAMAI Startup Foundation’s Mobile 10X programme CEO Jitender Minhas said: “The Mobile10X programme has been striving relentlessly to provide a robust support system for app developers and young startups. I believe this joint effort will be a perfect complement and give a fillip to nurture dynamic startups. With many more such initiatives, we will see great products emerging from such programmes.”
Though he declined to give a definite figure, he told indiantelevision.com that a percentage of the Rs 600 million was being set aside for marketing.
He said initially, the start-ups will get a grant to launch their companies. As a part of the programme, startups will be provided technical, marketing and leadership skills along with financial support to build applications and businesses. They will also network with industry leaders, thought leaders, VCs, ecosystem evangelists and funders.
