Bengaluru, June 6
Bosch India will partner and collaborate with 13 technology startups and take them to the next level. These startups had graduated from Bosch India’s accelerator program Discover, Nurture and Accelerate (DNA) after 18 weeks of intense development, mentoring and piloting. The startups are in the areas of aerospace, mobility, social impact, healthcare and agriculture, besiders others.
Talking to newsmen here today Mr Manohar Esarapu, Head, Bosch India, corporate venture program D.N.A said “We support nascent teams by offering technological inputs. Such aspects, will help the eco-system in the long-term as we are geared towards improving their business sustainability”.
Industry estimates that roughly 95 per cent of the start-up ventures in India fail owing to lack of guidance and maturity. This was especially true as far as technology development and business planning is concerned. “By combining the creativity of start-ups with the experience of Bosch, significant value can be unlocked,” Mr Esarapu added.
The selected start-ups are those which find resonance with Bosch’s corporate strategic imperative ‘Invented for life’. Out of 450 applications, Bosch India selected few and most teams were eliminated on grounds of lack of clarity with respect to ideas, business plans not offering much potential for growth. Every passing round the teams were judged on their plan, their solution as well as their understanding of the market that they claimed to address. Based on these solutions, Bosch also assessed the value the Group could offer with respect to enhancing their existing business plan.
Collaboration with start-ups is part of Bosch India’s growth strategy. The variety of start-ups in the group includes a team who converts soot (collected from a diesel generator) to printable ink using a proprietary liquid, a team who provides customisable home automation solution, a start-up who harnesses the power of virtual reality to save around 90 percent cost that is invested in life-size prototyping and another relating to developing a market viable diabetic peripheral neuropathy (DPN) screening. Taking forward its vision, in future, Bosch India’s accelerator programme will increasingly look to collaborate with those who build technology solutions in areas such as, internet of things (IoT), deep learning, analytics, cloud, virtual reality and block chain.