RIL, Microsoft to launch GenNext Innovation Hub to boost start-ups1 min read . Updated: 05 Sep 2014, 08:33 PM IST
RIL's GenNext Ventures and Microsoft Ventures are looking to invest seed capital in start-ups, incubate them and assist with mentorship and technology
RIL’s GenNext Ventures, the company’s venture capital arm set up in 2010, and Microsoft Ventures, are looking to invest seed capital in start-ups, incubate them and assist with mentorship and technology. These start-ups could be based in India or any other country.
“Technology is a key source of innovation, and the Indian industry is in a nascent stage. There lacks a national platform that bring together all the stakeholders to foster the ecosystem," said R.A. Mashelkar, chairman, GenNext Ventures, at a press conference in Mumbai.
The GenNext Innovation Hub at Navi Mumbai will look at mentoring entrepreneurs through a four-month programme. Start-ups will have access to office space, mentoring, and technical and design expertise through this programme. The programme will begin on 6 October.