Maruti Suzuki India in partnership with the Nadathur S Raghavan Centre for Entrepreneurial Learning (NSRCEL), the start-up hub at the Indian Institute of Management Bangalore (IIMB), today announced the list of 26 shortlisted mobility start-ups for a 9-month extensive incubation program.
The collaboration, announced in August 2020, is a first-of-its-kind initiative by an automobile manufacturing company. It will help start-ups to channelise their efforts to bring industry-ready solutions and become large-scale businesses.
The selected start-ups will undergo a three-month pre-incubation journey during which they will be engaged in various sessions, workshops, peer-to-peer learning activities while they receive regular one-on-one mentoring and advisory sessions. Networking events, mock-pitches and interaction with investors will be major highlights of the initiative. Following this, the ventures will be allowed to pitch for incubation and funding and the selected ventures will be taken forward for a further six-months incubation journey.
Applauding the initiative, Kenichi Ayukawa, MD and CEO, Maruti Suzuki India, said, “I am happy to learn that some of the brightest ideas have come from the start-ups focusing on technology. They have created business-ready solutions relevant for industry. Through our partnership with IIM Bangalore, we are excited to foster and encourage some of the most innovative start-ups in the country. The incubation program will help the start-ups become large-scale businesses, and also help industry with practical and technology-led solutions that bring efficiency and value to business functions.”
Elaborating on the initiative, Prof Venkatesh Panchapagesan, Chairperson, Nadathur S. Raghavan Centre for Entrepreneurial Learning (NSRCEL), said: “Mobility is evolving at a rapid pace in India and is projected to reach 90 billion by 2030, with significant growth expected in ride hailing, shared mobility and more. We are therefore proud to collaborate with Maruti Suzuki, who we share a similar drive with, in developing mobility solutions for a better and more connected future. Together we aim to deliver fresh thinking and innovative solutions to the existing mobility ecosystem. Maruti Suzuki, with its vast experience and market leadership in the automotive industry, will be able to significantly contribute to the development of the ventures, here at NSRCEL, IIM Bangalore, and the start-up ecosystem overall.”
The 26 start-ups have been shortlisted amongst over 400 applications received across the country. The selection panel comprising experts from Maruti Suzuki and NSRCEL evaluated the applicants and interviewed over 120 entrepreneurs.
THE 26 SHORTLISTED START-UPS Maruti Suzuki and IIM-B saw 420 ventures apply for the mobility program out of which 120 ventures were handpicked to pitch to them. Through careful evaluation and expert scrutiny, 26 companies have been selected for the pre-incubation.
Blinkin Technologies | Computer Vision An AI-powered self-service system powered by a Virtual Agent. Used for spare parts/accessory detection that identifies specific objects and creates sales opportunities
Regeno Ventures | Sustainability Alternative packaging solution to replace single-use plastic pouches and bags in the automotive parts packaging. Made from tapioca starch and vegetable oil derivatives which is Biodegradable and compostable.
Garage on Road | Vehicle Services Building a marketplace where users and garages can be digitally empowered to connect to conduct business with transparency, Access to Capital and Quality of Services.
Pinmicro | Asset Tracking Assist Plus is a Bluetooth-based location and activity analysis solution that provides effective real-time insight into every aspect of business operation, including employee productivity, functional efficiency and resource optimization
Gypsee Automotive | Insuretech Gypsee is an AI-driven connected car application that rewards users for practicing safe driving and saving lives. It is an earn-as-you-drive motor insurance policy with risk-based pricing and up to 30% payback on policy premium.
ClearQuote Technologies India | Computer Vision Instantly assess damages and generate repair estimates based on smartphone images or videos. Standardized estimates generated without skilled assessors
KulDew Technologies | Shared Mobility KulDew Cloud can help digitize the unorganized Car rental Ecosystem where prices will be governed by Marketplace and not a single operator