The global IT networking leader, Cisco is setting up an incubator for startups. The company announced the launch of its incubator at ‘Huddle Kerala’ a two-day long startup conclave.
The company has announced the incubator program in association with Nasscom foundation. This is likely to be Cisco’s first incubator in India. The incubator’s launch is among the big-ticket announcements at ‘Huddle Kerala’, a two-day conclave that concluded on Saturday in Kovalam.
The company plans to launch this startup incubator at the Indian Institute of Information Technology and Management (IIITM-K). Cisco has named its incubator as ‘thinkQbator’. The incubation program is focused to assist startups working in the core technical areas like the Internet of Things (IoT), and blockchain. Cisco will replicate the same model in other states as well.
Harish Krishnan, Cisco’s India chief is positive about grooming the Indian startup ecosystem with ‘thingQbator’. Kerala state government announced a Kerala Innovation Challenge (KIC) at the same event. The challenge will invoke startups to find solutions to socially relevant problems of our times.
The state will host the Global Impact Challenge (GIC) at Singularity University. The innovative ideas that can affect a billion people in the next decade can send applications for the contest. Unicorn India Ventures, a prime investor in Huddle Kerala announced that it has already invested in four companies that took part in deliberations at the event.
Another emerging fund, Sea Fund wants to help the emerging ecosystem. Major Kumar Agarwal, CEO of Sea Fund said, “What is important for Kerala is to move outside and get into new markets. That’s where we have decided to help them. When it comes to investment, local investments have to happen. We will help them in this regard too. Money is one part of it. But our main focus is to help them by way of mentoring and coaching.”
The state-level startup event was attended by 600 startups and 1300 delegates from various companies from India. Over 50 startups pitched their ideas to a jury, out of which three were pronounced winners.