Vedanta Group said that its latest initiative, Vedanta SPARK, has received more than 1190 entries from start-ups across the globe in a span of just around three months since its launch. The Spark initiative was launched on October 30, 2020 with the objective of triggering a tech-revolution, by partnering with early-stage, growth stage, and venture stage digital tech start-ups to build and grow technology capabilities in operational excellence, new product development and 360-degree sustainability.
The company received entries from 19 countries across the world, including UK, USA, Canada, Australia and Singapore. Out of the total 190 entries, over Indian 882 start-ups have enrolled themselves for the program.
Vedanta aims to reimagine the role of entrepreneurship to catalyse innovation by enabling the technology talent and entrepreneurial ambitions of India’s youth by seeding world-class technology ventures through the Spark program.
Speaking about the group’s initiative, Akarsh Hebbar, digital alchemist and anchor, Vedanta Spark, “Our effort is to trigger a tech-revolution by empowering the global start-up ecosystem. Through this strategic partnership, the budding high-potential startups can bring immense value to the global marketplace through progressive and sustainable solutions. It is indeed exciting to see the tremendous interest from start-ups, and we look forward to partnering with them while encouraging and enhancing them with industry exposure”
Over 100 start-ups have been shortlisted for the next level of interaction with Vedanta. 20 plus global and national partners have been brought on board. The key national partners for Vedanta Spark are Start-up India, AIM, Agnii (Invest India), while the key global partners include Core Hub and World Start-up.
Top 20 start-ups will get a chance to work with the different entities of Vedanta following a thorough evaluation process by expert panels consisting of Vedanta’s professionals, domain experts, and external mentors from reputed govt. ministries and industry. The ecosystem partners will be mentored in the fields of tech, strategy and venture development by global experts from Vedanta group and Forge. The company plans to make Investments of about INR 100 Cr towards the start-ups with promising outcomes.
The program roadmap is towards scaling up the engagement models with innovative start-ups.