US-based data storage and management company NetApp has onboarded six startups as a part of its first startup accelerator cohort. The company has selected startups that have a B2B focus.
Under Excellerator, the company will provide an equity-free grant of $15,000 to the selected startups upon completion of the four-month-long programme. The start-ups will continue to own their intellectual property, and NetApp would not seek a stake in it.
“In India we have seen there is a lot of stress on B2C. But, we are focused on the B2B space. We believe there is long-term value creation in that space,” said Ajeya Motaganahalli, Leader NetApp Excellerator Program, reports ET.
Earlier, the cloud firm had announced the launch of its first startup accelerator in Bengaluru in June this year. The programme, called NetApp Excellerator, is dedicated to startups with solutions in Internet of Things, cloud, Big Data and analytics, machine learning, virtualisation, data security, data management and storage.
The programme was launched at the new 15-acre company’s campus here in the presence of IT expert Mohandas Pai, partners, venture capitalists, startups and customers.
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The selected start-ups will also have access to NetApp platforms and technologies, tools, co-working space, HR, marketing, legal and tech support alongwith networking opportunities with potential investors, partners and customers.
In January 2017, NetApp India also launched its startup accelerator programmme, “Escape Velocity” and invested Rs 1000 to open Global Centre of Excellence with inauguration at Bengaluru.
The accelerator plans to take two cohorts (batches) in a year with around six companies in each cohort.
List of six selected start-ups for NetApp programme:
According to a recent Nasscom and Zinnov report, India now has the third-highest number of startup incubators and accelerator in the world after China and the US.
With 140 incubators and accelerators, India is still far behind China and the US, who have over 2,400 and 1,500 incubators and accelerators, respectively.