Vedanta accelerates its digital footprint, aligned to Start up India, a key initiative of Digital India
- IBEF
- February 18, 2021
Vedanta Group’s latest initiative “Vedanta SPARK”; the global corporate and innovation and ventures program, has received more than 1190 entries from start-ups across the globe in just around three months since its launch in October 2020. “Vedanta Spark” was launched with the objective of triggering a tech-revolution, by partnering with early-stage, growth stage, and venture stage Digital Tech start-ups. The company received entries from 19 countries across the world, including UK, US, Canada, Australia, Singapore at a lightning pace. Out of the total 1190 entries, over Indian 882 start-ups have enrolled themselves for this program.
Vedanta aims to reimagine the role of entrepreneurship to catalyse innovation by enabling the technology talent and entrepreneurial ambitions of India’s youth by seeding world-class technology ventures through the Vedanta Spark program.
Speaking about the Group’s innovative initiative, Mr. Akarsh Hebbar, Digital Alchemist and Anchor, ‘Vedanta Spark’ said, “Through Vedanta Spark, our effort is to trigger a tech-revolution by empowering the global start-up ecosystem. Through this strategic partnership, the budding high-potential start-ups can bring immense value to the global marketplace through progressive and sustainable solutions. It is indeed exciting to see the tremendous interest from start-ups, and we look forward to partnering with them while encouraging and enhancing them with industry exposure”
Over 100 start-ups have been shortlisted for the next level of interaction with Vedanta. 20 plus Global and National Partners have been brought on board. The key national partners for Vedanta Spark are Start-up India, AIM, Agnii (Invest India), while the key global partners include Core Hub and World Start-up.
Top 20 start-ups will get a chance to work with the different entities of Vedanta following a thorough evaluation process by expert panels consisting of Vedanta’s professionals, domain experts, and external mentors from reputed govt. ministries and industry. The ecosystem partners will be mentored in the fields of tech, strategy and venture development by global experts from Vedanta group and Forge. The company plans to make Investments of about Rs. 100 crore (US$ 13.73 million) towards the start-ups with promising outcomes.
The program roadmap is towards scaling up the engagement models with Innovative start-ups, whose partnership provide Vedanta with the potential to combine the speed, cost, scale, and scope advantages of Start-ups in Innovation with the scale reach, production, distribution, financial, and commercial capacity of Vedanta Limited.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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