The National Association of Software and Services Companies (Nasscom) has tied up with Bangalore-based hardware accelerator Revvx to launch an accelerator that will focus on startups in areas such as Internet of Things (IoT), smart gadgets and artificial intelligence, reported VCC.
With the Strategic Alliance with Nasscom, Revvx will move its upcoming third batch of hardware accelerator programme under Nasscom’s Centre of Excellence-IoT wing.
Also, Revvx will run the Nasscom Corporate Accelerator Program (NCAP) to catalyse corporate innovation. This programme focuses on themes such as health and wellness, retail and consumer electronics, industrial IoT, agriculture, energy and smart cities where companies can run exclusive innovation campaigns to co-innovate with startups.
Revvx works with Corporate Teams to structure exclusive Innovation Campaigns as per their Mandates and then facilitates Investments, Co-Distribution, Co-Creation Tracks for Corporates to Build/Buy/Partner with the startups.
Speaking on the development, Sanjeev Malhotra, CEO of Nasscom said, “We want to catalyse rapid innovation and we can do that with the power of co-creation. That’s the idea behind on-boarding Revvx to lead our startup and corporate accelerator initiatives which are components of our larger vision of co-creation.”
The tie-up was announced at the Hardware Massive Bangalore Chapter event hosted by Revvx. Hardware Massive is a global platform for hardware startups to meet and collaborate through events around the world and online.
“Right now the IoT feels like an avalanche of new connected products, many of which seem to solve trivial, “first world” problems. Indian SaaS+IOT or AI+IOT startups could be game changers by solving emerging economy challenges. The partnership with Nasscom IOT CoE solidifies our vision to make India the global gateway for IOT Innovation.” said Avinash Kaushik, founder & CEO, Revvx.
The Event had Techstars IOT Accelerator from NYC and NASDAQ listed Global Sources from Hong Kong reaching out to connect with the booming Indian IOT Startup ecosystem. Global Sources is the worlds largest electronics sourcing trade show which announced its collaboration with Revvx Hardware Accelerator.