IT Industry lobby body NASSCOM said that six of its incubated start-ups have been selected for the 2018 batch of Israel’s MassChallenge accelerator. Intello Labs Pvt. Ltd., Olivewear Pvt. Ltd., OCEO WATER, S&I Engineering Solutions Pvt. Ltd., Streamingo, and Ziroh Labs, will join a in Jerusalem this April. Earlier, NASSCOM launched a partnership with MassChallenge and the Desphande Foundation to grant scholarships worth $5000 to up to 10 finalists accepted into the accelerator.
Six of the awarded start-ups are associated with NASSCOM’s programs, including 10K Start-Ups, Deep Tech Club, Emerge 50 and TechEngage. Engaged in industries across the spectrum, including cybersecurity, aerospace, enterprise software, IoT, healthcare and agriculture, the finalists will now participate in MassChallenge’s four-month, accelerator program.
MassChallenge is a global network of zero-equity start-up accelerators which offers mentoring, tailored programming, complimentary workspace, and access to corporate partners. Representing the Indian contingent in MassChallenge Israel’s 2018 class of 55 start-ups are:
Intello Labs Pvt. Ltd.: An agri-tech company working on the quality grading of commodities, pest and disease detection in crops, and yield estimation.
OCEO WATER: An IoT-enabled smart water purifier designed to meet the growing needs for safe drinking water.
Olivewear Pvt. Ltd.: Builds a connected health ecosystem for pregnant women to deliver personalized maternal care and postnatal care.
S&I Engineering Solutions Pvt. Ltd.: A technology company involved in the development of state-of-the-art computational fluid dynamics (CFD) products for engineering applications.
Streamingo Solutions: Solves abstract problems and enhances viewing experiences using AI.
Ziroh Labs: A cybersecure system for untrusted, third-party cloud without compromising usability, privacy and business confidentiality.
“India is now on its next growth curve, led by disruptive technologies like data sciences and AI. NASSCOM’s start-up programme reflects this vision to consolidate and streamline efforts in building state-of-the-art infrastructure to amplify the impact that India’s emerging disruptive companies can indigenously create for the entire global ecosystem. We will continue our efforts in channelizing the growth of deep technology start-ups in India; help them receive worldwide institutional support, mentorship and guidance in solving the critical and complex problems across the country and globe,” said Atul Batra, Chairman, NASSCOM Product Council.
“The accomplishments of these start-ups not only mirror the nation’s exciting entrepreneurial energy/zeal but also serves as an encouraging testimony of NASSCOM’s efforts over the years to nurture the budding start-ups emerging from the fertile ground of Deep Tech innovation in India,” he added.
More than 520 startups from 32 countries applied to join MassChallenge Israel’s 2018 class. Startups were evaluated on their ability to demonstrate impact and potential – for ideas ranging from scientific breakthroughs to industry disruptions – by an expert judging panel that included more than 170 of the world’s top executives, entrepreneurs, and investors.
The 55 startups will participate in MassChallenge’s nearly four-month accelerator program. The accelerator will run from late April through early August 2018 and culminates with the MassChallenge Israel Awards, where the accelerator’s top startups will be invited to the MassChallenge Israel Trek, an all -expenses paid curated roadshow to the East Coast of the US. Select startups will share a portion of an equity-free cash prize of 500K ILS.