Reliance Industries, one of India’s leading conglomerates, is actively supporting and empowering startups in the technology and telecommunications sector. Under various initiatives, Reliance Industries has been nurturing and mentoring startups, providing funding, and aiding in raising additional funds or getting acquired by bigger companies. With a belief that startups can become powerhouses of talent, technology, and innovation, Reliance Industries is investing in their growth.
Through its program called Jio GenNext, Reliance Industries is supporting the startup ecosystem in collaboration with Israel Innovation Authority (IIA), OurCrowd, and Yissum. Over the past nine years, Jio GenNext has made a significant impact by conducting 18 startup mentorship programs. According to the company’s latest Annual Report, 117 startups have been mentored by IIA, 118 alumni young firms have received funding, and 73 companies have raised institutional funding. Furthermore, 27 alumni startups have been acquired by other companies, and more than 55 alumni firms are engaged with Reliance Jio.
JioGenNext also offers a Market Access Programme (MAP), which assists early-stage startups in achieving their goals and scalability. The program works with an annual cohort and provides personalized advisory services to these companies on product innovation, go-to-market strategies, hiring, marketing, fundraising, and product-market fit.
In a recent development, JioGenNext has partnered with MeitY Startup Hub (MSH), the nodal entity of the Ministry of Electronics and Information Technology, Government of India, for the year 2022-23 cohort. This partnership allows early-stage startups to access mentors, investors, and opportunities within Reliance Industries and Jio, enabling them to develop proof of concept solutions.
The startups selected for the 2022-23 cohort under this program include:
1. CloudHedge: CloudHedge adopts a product-led approach to streamline the process of modernizing and deploying IT applications on the cloud for large enterprises, saving them time and money.
2. Skyware: Skyware employs proprietary AI models and sensors to predict and detect grain spoilage in warehouses, providing agricultural commodity suppliers a means to save time, money, and resources.
3. Salcit Technologies: Salcit Technologies, under its brand name Swaasa, uses smartphones to detect lung diseases at an early stage. This technology helps hospitals, clinics, and doctors save countless lives.
4. EdgeNeural AI: EdgeNeural AI significantly reduces the time and costs associated with developing, training, and deploying machine learning models on edge devices like hardware regulating data flow between networks.
5. CloudWalker: CloudWalker offers a platform that enhances the smart TV user experience for customers of small TV brands in India through software transformation.
6. Vitra AI: Vitra AI is a one-stop solution that translates videos, images, podcasts, and texts in over 50 languages, bringing the world closer together. It caters to transcription, translation, and synthesis requirements.
7. Meraqui: Meraqui provides a ‘workforce-as-a-service’ platform that simplifies the recruitment, onboarding, and management of grey and blue-collar contract workers for large enterprises. It offers end-to-end management of employees’ entire hire-to-retire lifecycle.
It is evident that startups in the technology and telecommunications industry are rapidly emerging and forming an interconnected ecosystem. Organizations like Reliance Industries and MSH are empowering these startups, enabling them to thrive and reap the benefits of collaboration and mentorship.
By nurturing and supporting startups, Reliance Industries is fostering innovation, encouraging technology-driven solutions, and contributing to the growth of India’s startup ecosystem. The initiatives taken by Reliance Industries reflect the company’s commitment to nurturing young talent and fostering entrepreneurship in the country.
The partnership between JioGenNext and MSH further strengthens the support system for startups, providing them with access to industry experts, investors, and mentors. Through these collaborative efforts, startups are gaining opportunities to develop innovative solutions, scale their businesses, and contribute significantly to the technology and telecommunications sectors.
As the startup ecosystem continues to flourish under the guidance and support of organizations like Reliance Industries, India is witnessing a surge in technological advancements and entrepreneurial success stories. The future looks bright for startups in India, as they benefit from the mentorship, funding, and collaboration opportunities provided by industry giants like Reliance Industries.
