Citrix, a US based cloud solution provider has announced the graduation of the first batch of its startup innovators’ programme in India.
Launched in August 2014, the Citrix programme focuses on both entrepreneurs and intrapreneurs, and has a total of nine teams including five internal teams and four external ones.
It has given a combined grant of $10,000 (around INR 6.2 lakh) to the four external teams whereas the internal teams are being supported as employees.
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Following are the set of four external teams Funded at Citrix Innovator Program:
- InstaSafe: A cloud security company founded on October 1 2012 that reinvents networking by leveraging the power of the cloud through products such as InstaSafe Secure Access, myInstaSafe.
- Karmasnap: A social altruism platform established in January 2014 that brings non-profits and for-profits together.
- ParaBlue: The company founded in 2011, ParaBlu helps sync data with complete privacy and security by creating a personal cloud that resides on the computer.
- Maxerience: Founded in 2014, Maxerience designs, develops and markets advanced electronics for intelligent systems. Maxerience is into design and development of embedded electronic systems including hardware, software, firmware and integrated circuits (IC’s).
The five internal startups have been given a three-month sabbatical even as they continue to receive their pay and benefits. These include:
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“The core focus of the startup accelerator programme is to enable entrepreneurs create the next wave of disruptive technologies .India is a gold mine of talented startups, and these nine teams are a testament to this very fact,” said John McIntyre, managing director of Citrix Startup Accelerator.
A plethora of startup incubator have thronged the indian market with marquee names such as Microsoft Accelerator, Target, Google’s Startup Launchpad propping into the startup nurturing arena in recent years, in view of the rapidly expanding ecosystem. As per industry body Nasscom, India is the third largest base of startups in the world with over 3,100 such companies. The industry body estimates India to add over 800 startups each year and have around 11,500 startups by 2020, employing over 2,50,000 persons.