National Association of Software and Services Companies (NASSCOM), the Indian IT trade association, 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.
The announcement was made at the Hardware Massive Bangalore Chapter event organized by Revvx. Hardware Massive is a global platform for hardware startups to meet and collaborate through events around the world and online.
With this strategic alliance, Revvx will move its upcoming third batch of Hardware Accelerator Program under the Nasscom CoE IOT umbrella, a combined initiative of Department of Electronics & IT to promote the Indian IoT ecosystem. In addition, Revvx has also revealed plans to drive the Nasscom Corporate Accelerator Program (NCAP) to catalyze 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.
“We want to catalyze 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,” said Sanjeev Malhotra, CEO, Nasscom CoE IoT.
Revvx brings deep connects in China and Taiwan in addition to India for manufacturing as well as retail distribution. It works with corporate teams to structure innovation campaigns as per their mandates and then facilitates investments, co-distribution and co-creation tracks for corporate houses to build, buy, and partner with startups.
In its hardware accelerator programme, Revvx runs three separate tracks—prototyping, mass manufacturing and distribution. The programme has incubated a total of 15 startups under its first two batches and the programme is inviting startups for the third batch currently.