The number of startups graduating from GenNext Hub has increased to 11 from 9 last year, a sign that the Mumbai-based startup accelerator is gaining momentum. The GenNext Hub is a joint initiative between Reliance Industries Ltd (RIL) and Microsoft Ventures to catalyze the startup ecosystem for a digital India.
The GenNext Hub enables entrepreneurs to build their companies through an immersive, four-month long program. "The success of the program can be measured by the success of the startups, who have all witnessed significant amounts of traction during the course of the program - getting market validation, developing products, acquiring customers, pivoting business models, evaluating India go-to-market strategy, executing proof of concepts with RIL businesses, on-boarding influential advisors and forging strategic industry partnerships," the startup accelerator said in a statement.
Bhaskar Pramanik, Chairman, Microsoft India, said, "Microsoft provides the platform on which innovative companies are being built. Our technologies power nearly 4,000 startups in the country today and we will continue supporting the startup ecosystem through our various programs. We have seen some amazing innovation in the two batches that have graduated thus far from GenNext. Some of these have already made a mark in the ecosystem and have even become business partners for Reliance and Microsoft and we hope this trend will continue."
During the four-month program, the startups were mentored on customer development, business models, operational planning, product roadmap, market traction, fund raising and pitching. The workshops cut across B2B and B2C businesses in diverse sectors such as sports, energy, hospitality, advertising, fitness, financial services, logistics, healthcare, payments and enterprise software. Domain expertise was provided in intellectual property, product development, online promotions, advertising, PR, financial modeling, communication and pitching. Going forward, GenNext Hub will focus on helping companies scale-up with its "Scalearator" model and evolve from a "Minimum Viable Product" to a "Minimum Viable Company".
GenNext Hub is now accepting applications for third batch, which will start in April 2016. The startups that graduated from GenNext Hub's second batch are:
1. Algo Engines: Provides operational intelligence for wind turbines, met masts, solar plants and other Internet of Things (IoTs). Satish Kashyap, co-founder and CEO.
2. Creditseva: India's first consumer credit analytics and online management tool to help build healthy credit profile for individuals. Satya Vishnubhotla, co-founder and CEO.
3. Curefy: Mobile app that guarantees to instantly connect patients to doctors from best hospitals over the phone in under 1 minute. Raghav Sehgal, co-founder and CEO.
4. Efficient Bazaar: A centralized procurement solution for the hospitality industry. Tanveer Singh, co-founder and CEO.
5. Eloan: The leading Peer to Peer (P2P) lending platform from Israel entering India. Yigal Alkaslasy, chairman.
6. Fieldomobify: Mobile and cloud based field force mobility solution to sales, service and delivery function for visualizing real time activities on the field. Shridhar Awate, co-founder and CEO.
7. FiTicket: A new kind of fitness membership that provides access to the best gyms and fitness classes in the city. Sahil Kukreja, co-founder and CEO.
8. Noroc Solutions: Enabling offline merchants to accept new age payments without the need for any additional hardware or an app and with minimal learning curve. Ajay Joseph, co-founder and CEO.
9. Pickcel: Enabling offline merchants to accept new age payments without the need for any additional hardware or an app and with minimal learning curve. Abhijit Chaudhary, co-founder and CEO.
10. Playfiks: An online sports eco-system that helps people to connect, network, schedule and engage in sports, fitness and a healthy lifestyle. Rajeev Krishnan, co-founder and CEO.
11. VDeliver: A technology powered, intra city, point-to-point logistics company. Srinivas Madhavam, co-founder and CEO.
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