Reliance and Microsoft to support Innovative Start-ups

Reliance Industries along with Microsoft Ventures have planned to launch a GenNext Innovation Hub in September, 2015. This hub will serve as an incubator for upcoming companies and will be located at Navi Mumbai. A 19-week workshop of the first batch, ended in January. 11 start-ups are the part of the first batch.

The two partners play a distinct role in the venture. Microsoft assists in workshops, seminars, and different meetings while Reliance holds the responsibility of the infrastructure. Many heads of departments from Reliance also help in conducting the workshop.

Some companies that are a part of the first batch are as follows.

Coitor IT Tech (P) Ltd.

This company is based in Chennai. The heads of the organization are Mahendra Vellingiri and K.R. Sivasubramaniyem. Coitor provides a virtual dressing room wherein customers can see on a screen as to how a particular outfit will fit them. This saves shops from the cumbersome task of folding the dresses and saves the dresses from any kind of damage. Vellingiri said that 15 stores in Chennai are currently using their solution. He also notified of their plans of partnering with e-commerce sites as customers ordering online have a lot of issues with size, shape, etc.

AxleRate Solutions Pte Ltd.

The Singapore based company provides software that can help in women safety. When fitted in a taxi, this software identifies a scream, takes pictures of the passenger and alerts designated people. The company has partnered with Meru cabs and is looking forward to negotiate with the Government of Tamil Nadu so that even auto-rickshaws may have tracking and alert system. The brain behind this is a former BITS (Birla Institute of Technology and Science), Pilani student, Varadharajan Kumaravelu.

LogiNext Solutions Pvt. Ltd.

The company provides logistics solutions. It helps other businesses to get data and analyze to plan their routes and save a lot of time and fuel costs. With logistic solution, companies come to know about the exact location of their shipments. The founders, Manisha Raisinghania and Dhruvil Sanghvi, have experience of working with international logistics companies.

360 Health Vectors Pvt. Ltd.

The head of the company, Subhasish Sircar is an MBA from Wharton School of Business. The company collects patient data from hospitals and uses family history, lifestyle patterns and other factors to anticipate the risk of illness on the patient. The organization has partnered with Fortis in Mumbai.

Views of Reliance and Microsoft

R.A. Mashelkar, Chairman of GenNext Ventures and a board member of Reliance Industries is overwhelmed to see the innovations that the new companies are coming up. He said that they are delighted to see businessmen quitting their attractive jobs to start their own ventures and look after the global needs.

Rajinish Menon, Director of Microsoft Ventures, said that these new companies are witnessing enormous growth. He is hopeful that they are assisting those companies that will emerge as big names in the future.

Summary

<a href=”http://www.reliance-news.com/&#8221; title=”Reliance Industries”>Reliance Industries</a> and Microsoft Ventures will jointly set up a GenNext Innovation Hub in September at Navi Mumbai. The two companies will play the role of an incubator for the start-ups.

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