Cisco Announces Start Up Accelerator
Cisco said it started an accelerator programme where it will work with select startups to develop products together.
The accelerator programme, Launchpad, is designed to help start ups, channel partners and developers scale their solutions, address new markets and build digital business.
“Through Cisco Launchpad, we want to unleash the next generation of disruptive ideas and help turn the entrepreneurs of today into the business leaders of tomorrow,” Amit Phadnis, president engineering and India site leader of Cisco said on Thursday.
The applications are now open for start-ups and will initially focus on manufacturing, retail, transportation, education and healthcare sectors. Cisco will not take equity in the start-ups selected.
The start ups, which will be between 5 and 8 in the first round, will get a chance to solve problems catering to use cases, validated by Cisco’s go-to-market team. Cisco said it will invite early and late stage start ups to participate in the programme, which will run for four months, and has the ability to invest in them through its start up fund.
The San Jose-based company said earlier this year it will invest $100 million in the country over the next two years, which includes $40 million to be used to fund early and growth stage companies.
Cisco also announced collaboration with Tech Mahindra and smaller start-ups that work in the digital metering space to develop digital solutions for the Indian electric utilities.