Bitonic, Aayuv in Nasscom’s list of top innovative tech start-ups
The jury assessed the start-up applications on the basis of factors such as innovation impact, product offering.
Software lobby Nasscom Wednesday named top 10 start-ups as part of its Emerge 50 2018 awards, which use innovative technology across sectors like healthcare, architecture, human resources and real estate in India.
Rs.received more than 420 applications this year, with many candidates working on robotics, mixed reality, natural language processing and software solutions.
The 10 start-ups are chatbot platform Bitonic Technology Labs Pvt. Ltd, healthcare start-up Aayuv Technologies Pvt. Ltd, GIEOM, a banking software provider, people analytics start-up Infeedo, pharma supply chain platform Medicea Technology Solutions Pvt Ltd, virtual reality product company SmartVizX, homeland security application Staqu Technologies, SaaS platform Synup, supply chain management firm Tagbox Solutions Pvt. Ltd, and mixed reality hardware start-up Tesseract.
“What differentiated these 10 start-ups were their business aspects—which were strong in terms of customers and revenues. They were focused on their capabilities, use cases, go-to-market, approach to acquiring customers and marketing themselves as compared to start-ups last year,” Atul Batra, chairman of the product council at Nasscom said over the phone.
The start-ups were evaluated by a pool of industry veterans including Aakanksha Sharma, vice-president at IvyCap Ventures; Alok Mittal, co-founder and chief executive officer at Indifi Technologies; Bala Girisaballa, president at start-up accelerator Techstars, and Anil Joshi, managing partner at Unicorn India Ventures among others.
The jury assessed the start-up applications on basis of various factors such as innovation impact, product offering, business excellence and addressable market among others, added Batra. “More and more companies are going vertical in terms of health-tech, fin-tech and agri-tech. As opposed to trying to claim too much, they are focused on very specific use cases.”
More than 70% of start-ups applications belonged to the B2B segment. There is a gradual and expected rise in B2B start-ups as compared to consumer internet or B2C every year, added Batra.
Previously, a major chunk of applications included platforms, infrastructure, cloud applications, big data analytics and mobile platforms. However, start-ups are now also looking at the product landscape beyond software and finding synergies in hardware, Nasscom said.
“An interesting trend has been companies shifting from software boundaries to hardware and appliances over the last two years,” said Batra.
Last year, Nasscom recognized start-ups such as vehicle fleet management solution firm Intellicar Telematics Pvt. Ltd; medical technology start-up Cyclops MedTech; cloud platform provider IndiQus Technologies Pvt. Ltd.; and sales and marketing SaaS-enabled solution company eMart among others.
As the start-up ecosystem grows in India, co-founders are expanding at early stages of the company itself. Medicea Technology Solutions Pvt. Ltd, which offers solutions for pharmaceutical supply chain, is looking to expand pan-India while raising ₹ 10 crore in funding. Another start-up, GIEOM that has built a productivity software for banks is piloting a blockchain based offering for the European market. Founded in 2012, GIEOM is currently present in India, Middle East and Africa.
“We are extremely proud and happy for being recognised as ‘League of 10’ start-ups by NASSCOM. It provides another validation of BoxLens. We are excited about upcoming journey as we scale our offerings,” said Adarsh Kumar, co-founder and CEO at Tagbox.