Incubator Kstart on Tuesday said it has partnered tech giant IBM to foster the startup ecosystem in India.
Kstart, an initiative of venture capital firm Kalaari Capital, said, along with IBM, it will offer training and mentoring sessions to startups.
Kstart further said the entire roster of seed-stage portfolio companies will have the opportunity to apply for the IBM Global Entrepreneur Programme (GEP), which provides business mentoring, technical support, networking opportunities with enterprise clients and credits to help entrepreneurs build their applications on IBM Cloud.
“IBM business leaders and technology experts will help Kstart portfolio companies create go-to-market strategies, achieve market alignment and augment their technology roadmaps. IBM will also invite Kstart participants to training sessions on cognitive learning, analytics and product design,” the company said in a statement.
According to a 2015 report by Nasscom and Zinnov, India holds third position in the world in terms of the number of startups, and has the fastest growing startup base globally.
“To support this boom in the Indian startup ecosystem, Kstart and IBM will work together to spur the next generation of innovation throughout the country and ensure that startups have access to the support they need to get their solutions into the marketplace,” it added.
Kstart will drive awareness and engagement with IBM’s GEP, where startups can apply for up to USD 120,000 in cloud credits to develop and run their applications on IBM Cloud.
“We believe in creating an environment that can foster innovation, which is why we working with Kalaari Capital to encourage and support the startup community in their journey,” said Nipun Mehrotra, Vice President, Growth Initiatives IBM India/South Asia.
Kalaari Capital has a fund value of USD 650 million and has invested in companies like Snapdeal, Urban Ladder, Simplilearn and Myntra, among others.
“Collaborating with IBM will help us equip our entrepreneurs with the right expertise and tools to succeed,” said Vani Kola, Venture Capitalist, Kalaari.
