- The theme for RIOT 3 is Corporate Connect where corporates would engage with the startups for potential orders, synergy, acquisition, acquihiring, funding and the likes.
IvyCamp, an initiative of IvyCap Ventures and NASSCOM 10000 StartUps under the aegis of CoE-IoT (Centre of Excellence in Internet of Things) have announced their third season of Rendezvous IoT (RIOT-3), supported by the Government of Maharashtra and Maharashtra Industrial Development Corporation.
The event which focuses on IOT, Artificial Intelligence, Machine Learning, VR and Hardware Space startups, will enable them to connect with corporates for potential orders, synergy, acquisition, acquihiring, funding and the likes. For corporates, it is an opportunity to tap into startups to identify solutions that could address their business problems
The event is to be held on the 10th at the 91 Spring Board office in Mumbai.
The earlier editions of the event, RIOT-1 and RIOT-2 witnessed hundreds of startups and investors participating in the event. The total amount of funding awarded has been over Rs 7.5 crores across both the editions.
The earlier editions also saw participation from large corporates such as Tech Mahindra, TATA, Reliance, etc. Indian and foreign Government agencies such as Smart Cities Commission and Government of New South Wales and Government of Ecuador also participated in the event.
The NASSCOM and IvyCamp’s alliance will look at developing strategies and initiatives to bolster the IOT movement in Indian StartUp Ecosystem including cultivating innovation, educating the investment community and fostering partnerships between industry and the startups.
Speaking on this occasion, Anju Gupta, President and co-Founder – IvyCamp said, “IoT/AI/VR/Machine Learning is a massively untapped opportunity and market in India and Globally. Our Partnership with NASSCOM and activities like RIOT are focused on providing the focused support and connects that startups in these areas need. RIOT 1 and RIOT 2 connected startups with technical experts and investors. RIOT 3 is focused on the third much needed critical pillar of corporates, which can provide the real world application, market, and resources. This corporate- startup connection is also vital to educate our innovators on the real world problems corporates are trying to address – and through this, bring more practically driven innovation into our startup ecosystem.”
Research by McKinsey Global Institute estimates the impact of the Internet of Things on the global economy will be $6.2T by 2025. NASSCOM and Deloitte recently pegged the IoT market in India at $5.6B in 2016, growing to over $15B by 2020.
IvyCamp, an initiative of IvyCap Ventures, is India’s first unified technology based platform that leverages the Global Alumni Network to help entrepreneurs be successful. Through the platform, it partners with educational institutions and Alumni to connect, entrepreneurs with experts, investors, corporates and other entrepreneurs. Its parent – IvyCap Ventures is raising its second fund of Rs 600 crs. IvyCap has raised and deployed Rs. 250 crore in its maiden fund last year.
IvyCamp has recently facilitated investments in early stage startups like FT cash, GrabOnRent, Idea Bubbles, Mr. Hot Foods and has connected various startups to industry mentors and corporates.
About NASSCOM 10,000 Startups
10,000 Start-ups is an ambitious attempt by NASSCOM to scale up the start-up ecosystem in India by 10x. 10,000 Start-ups aims to enable incubation, funding and support for 10,000 technology start-ups in India over the next ten years. The program’s vision is to foster entrepreneurship, build entrepreneurial capabilities at scale and strengthen early stage support for tech start-ups. The initiative brings together key stakeholders of the ecosystem including start-up incubators, accelerators, angel investors, venture capitalists, start-up support groups, mentors and technology corporations. Since its launch in April 2013, we’ve done about 600 events in 25 cities of the country which were attended by a whopping 30,000 attendees and received 11,000 Applicants, 1100 Start-ups Shortlists and 150 Impacts. The program is supported by Google for Entrepreneurs, Microsoft Ventures, Kotak, Amazon Web Services and IBM.