In a move geared towards bolstering the emerging Internet of Things (IoT) ecosystem in the country, the Internet and Mobile Association of India (IAMAI) has recently announced the launch of a dedicated incubator programme for IoT-based startups.
Dubbed as “IoT.IN”, the initiative has been launched in collaboration with Napino Auto and Electronics and Mobile10X, an ecosystem enabling programme for mobile apps.
Commenting on the development, Jitender Minhas, CEO of IAMAI Startup Foundation’s Mobile10X reportedly said, “The Mobile10X programme has been striving relentlessly to provide a robust support system for app developers and young startups. I believe this joint effort will be a perfect complement and give a fillip to nurture dynamic startups. With many more such initiatives, we will see great products emerging from such programmes.”
As part of the incubator programme, shortlisted startups will be offered mentorship, partnership and fundraising opportunities, sources revealed. For its first cohort, the programme will be open to IoT startups based in Mumbai, Bengaluru and Delhi/NCR.
The goal of the initiative, according to Minhas, is to nurture aspiring entrepreneurs and provide them with the resources needed to develop innovative and disruptive solutions that utilise the power of Internet of Things.
Headquartered in Gurugram, Napino claims to have invested more than $4.6 Mn (INR 30 Cr) in tech companies in the last two years. For the coming two years, the company looks to spend another $9.2 Mn (INR 60 Cr) backing next-generation startups working in emerging sectors such as IoT, Big Data, Blockchain and artificial intelligence (AI).