India's technology business incubator GINSERV launched Gincelerator 2.0 with 18 startups. Inaugurating the midlevel health tech, MedTech and edtech Startups' take-off stage programme, Director of Department of Electronics, IT & BT and Managing Director of KITS Meena Nagaraj said, "Karnataka government's policies are aimed at giving access to deep technology. Karnataka makes it happen and that is why 7 unicorns were born during a difficult period of COVID-19 pandemic." (A unicorn is a term used in venture capital industry to describe a privately held Startup company with a value of over USD 1 billion)
"Karnataka is the first state to formulate engineering research and development policy, and this is because of our innovative ways of making policies to encourage innovation. Bangalore is number-one tech city with 8.5 per cent growth while the international average is 6.2 per cent," Meena Nagaraj explained.
Kapil Khandelwal, a well-known investor in health tech compes, was the keynote speaker on healthcare investment. "Healthcare is impactful and during the pandemic, USD 150 mission funding was raised for the startups," he revealed. "We are a biotech powerhouse and Karnataka is most attractive investment destination," said Khandelwal, who is the managing partner in Toro Finserv LLP and Director in EquNev Capital Private Limited.
One usually attributes Startups with youngsters and their ideas. But SK Dixit, who is just short of 60 years and he is a Startup founder and CEO of wearable diagnostic devices company. His innovation - wearable ECG device- Heartwear is in the market.
Gincelerator 2.0 will nurture 18 Startups from all over India, even though a majority of them are from Bangalore. The accelerator program has been designed with the support of National Science Technology Entrepreneurship Development Board (NSTEDB) and Department of Science and Technology (DST), Government of India. Each of the 18 startups will be eligible for Startup Kit worth INR 25 Lakh. As many as 100 startups had submitted applications of which 18 were selected based on various parameters.
Girish Hiremath, COO, GINSERV, said, "GINCELERATOR 2.0 is conceived to accelerate the growth and scale of Tech start-ups sustainably stronger and faster by providing access to mentors, industry experts, investors, and pilot access to potential customers. GINSERV being part of the Mysuru-based JSS Group Institutions with its strong presence in Education, Medical and Healthcare space, can unlock huge opportunities for the Tech Start-ups form these sectors."
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( With inputs from ANI )
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