Cisco to partner with startups, companies for smart solutions( 15:00, 01-Jul-16)
Networking company Cisco has inaugurated Launch-Pad, an open innovation initiative to accelerate startups.
This is designed to help startups, authorise channel partners and developers to scale their solutions, address new markets, and build digital businesses. Cisco will provide a space at its BENGALURU campus with access to its technology suite and grants to startups chosen to work at its campus.
"We will be selecting startups based on the founding team, its capability, how that fits into the larger ecosystem and their willingness to work with an ecosystem," said Amit Phadnis, president, engineering.
Through LaunchPad, the startups will get to work on solving business relevant problems by catering to use cases that are identified and validated by Cisco go-to-market teams
The company will concentrate on manufacturing, retail, education, healthcare, IoT, transportation, analytics, cloud and agriculture sectors, among others, and will not be taking any stake in the startups. As a part of the programme, the company will attach a senior-level sponsor to carry forward the process.
"There is a governance board and an internal technology team. We have about 28 global technology leaders. When we select a startup, a (channel) partner and find a use case, we will be attaching a sponsor from Cisco. They will take the whole process through from Cisco and the startup's perspective," said Phadnis.
Cisco will collaborate with Tech Mahindra to develop digital solutions for Indian electric utilities. The companies will work with select startups and developers to accelerate digitisation of the power sector.
Source – Economic TimesPowered by Capital Market - Live News