Mumbai-based startup accelerator The GenNext Hub on Friday announced the graduation of 11 technology startups from its accelerator programme. The GenNext Hub is an initiative of Reliance Industries (RIL) in collaboration with Microsoft Ventures to catalyse the startup ecosystem for a digital India.
The event, which was held at Reliance Corporate Park, Navi Mumbai, on Friday saw the startups showcase their businesses to more than 150 investors, influencers and corporate customers, among others.
The GenNext Hub enables entrepreneurs to build their companies through an immersive, four-month-long programme. During the programme, the startups were mentored on customer development, business models, operational planning, product road map, market traction, fund raising and pitching. The workshops cut across B2B and B2C businesses in diverse sectors such as sports, energy, hospitality, advertising, fitness, financial services, logistics, health care, payments and enterprise software.
The success of the programme can be measured by the success of the startups, which have all witnessed significant amounts of traction during the course of the programme – getting market validation, developing products, acquiring customers, pivoting business models, evaluating India go-to-market strategy, executing proof of concepts with RIL businesses, onboarding influential advisors and forging strategic industry partnerships.
“At GenNext Hub, we are catalysing a unique startup ecosystem, which rests on the tripod of talent, technology and trust. We spot and encourage ‘talent’, help them harness their ‘technology’ and back them up by putting total ‘trust’ in them. We are supporting several of our startups from the second batch with strategic partnerships that will help them scale-up rapidly,” says GenNext chairman and RIL board member Dr Raghunath A Mashelkar.
The startups that graduated from GenNext Hub’s second batch are:
1. Algo Engines – Provides operational intelligence for wind turbines, met masts, solar plants and other Internet of Things (IoTs).
2. Creditseva – India’s first consumer credit analytics and online management tool to help build healthy credit profile for individuals.
3. Curefy – Mobile app that guarantees to instantly connect patients to doctors from best hospitals over the phone in under a minute.
4. Efficient Bazaar – A centralised procurement solution for the hospitality industry.
5. eLoan – The leading Peer to Peer (P2P) lending platform from Israel entering India.
6. Fieldomobify – Mobile and cloud-based field force mobility solution to sales, service and delivery function for visualising real time activities on the field.
7. FiTicket – A new kind of fitness membership that provides access to the best gyms and fitness classes in the city.
8. Noroc Solutions – Enabling offline merchants to accept new age payments without the need for any additional hardware or an app and with minimal learning curve.
9. Pickcel – The hyper-local advertising platform that help businesses to accelerate their sales within the locality in an easy and affordable way.
10. Playfiks – An online sports ecosystem that helps people to connect, network, schedule and engage in sports, fitness and a healthy lifestyle.
11. VDeliver – A technology powered, intra city, point-to-point logistics company.
GenNext Hub is now accepting applications for its third batch, which will start in April 2016.
Disclaimer: Reliance Industries owns Network 18, the publishers of Forbes India.