IIT Bombay’s Society for Innovation and Entrepreneurship (SINE) in Mumbai and Global Venture Alliance (GVA) in Moscow are partnering to run a bilateral Entrepreneur Exchange Programme- “India Russia Bridge for Innovations (IRBI)”. This is a press release by the organisers.
The Government of India along with Global Venture Alliance is organisaing a two week accelerator program for ten startups from across the country to be held in Mumbai and in Moscow later this month to help these start ups enter the Russian market.
Department of Science & Technology (DST), Govt. of India and Global Venture Alliance (GVA) have sponsored a bilateral entrepreneur exchange program, entitled “India Russia Bridge for Innovations (IRBI)” which is being coordinated by IIT-B’s Society for Innovation and Entrepreneurship (SINE) in Mumbai and Global Venture Alliance (GVA) in Moscow in the second half of September this year.
A cohort of ten innovative startups from across India will participate in a 2-week accelerator program in Moscow that will include educational, practical, networking and cultural components aiming to facilitate a structured introduction into the Russian market.
Picture for representation only. Source: Flickr
The program is the first initiative between India and Russia that will focus on science and technology based entrepreneurship. The entire program is fully sponsored and supported by the Government of India’s Department of Science and Technology (DST), and the GVA in anticipation that partnerships and collaborations forged in course of IRBI, will not only lay foundations for increased bilateral trade across the nations, but also further goals of key national initiatives like Start-Up India, Make-in-India and Digital India.
The selected startups are in areas of medical devices and applications, energy, IoT, Edtech and Retail Tech. The expected outcome of the program is for the entrepreneurs to acquire knowledge from experts in Russia in order to find partners, clients and test their products in local market through a collaborative ecosystem. There is also a potential to pioneer new cross border partnerships and collaborative programs between the two countries.
Picture for representation only. Source: Flickr
As Dmitry Rogozin, the deputy prime minister of Russia and his Indian counterpart, Sushma Swaraj meet on September 13 in New Delhi at the 22nd session of the Indo-Russian Intergovernmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) to discuss a plethora of topics including expanding bilateral trade to reach the $30 Billion goal, Indian entrepreneurs behind 10 innovative startups will leave for Moscow the very next day for this one-of-a-kind Indo-Russian entrepreneur exchange program in attempt to do further just that goal. Leading up to the much anticipated India-Russia summit between PM Modi and President Putin on the sidelines of the 6th BRICS Summit in Goa on 15-16th of October, officials and entrepreneurs in both India and Russia have been eager to make the ambitious commitment of increasing the bilateral trade threefold in the next decade a reality. Programs such as the IRBI will go a long way in sparking a strong bilateral economic tie in innovation and entrepreneurship between the two nations.
About the India Russia Bridge for Innovations (IRBI)
The program with its educational, practical, networking and cultural components will facilitate a structured introduction into Russia for the participating startups. This two week immersion program will cover a plethora of topics ranging from the ways to engage the 150 million strong Russian market to the nuances of doing business there. The entrepreneurs, other than attending networking events with a wide range of industry stakeholders, will also be attending what is touted as the one of the world’s largest innovation conventions, the IASP 2016 with the theme of ‘The Global Mind: Linking Innovation Communities for Internationalization, Sustainability and Growth’. As part of IASP, the cohort will also visit the Skolkovo Innovation Park, a one-of-a-kind Innovation and Entrepreneurship hub just outside Moscow.
About the Start-Ups:
Field Assist – Divir Tiwari – is an on-field sales monitoring tool for mobile sales teams using smartphones and tablets.
Ecolibrium Energy – Harit Soni – Big Data Energy analytics Platform provides the insights that increases operational efficiency of utilities, commercial & industrial consumers by optimizing energy usage and improving asset utilization
Transcell Biologics – Dr. Subhadra Dravida – Transcell is a Biotech company with a strong commitment to develop innovative and transformative stem cell based approaches in advancing evidence based practice in disease management.
Frodo – Amardeep Singh – a technology start-up striving to create the perfect adventure camera called Frodocam which could be the world’s first truly wearable camera which you can strap on your wrist, head, bike or any adventure gear.
A3 RMT – Vishal Shah – customizes wireless portable medical technology to tackle area-specific healthcare inefficiencies in emerging markets, with innovative and reliable products.
Medprime Technologies – Binil Jacob – is a medical device company, dedicated to developing the best, customer-centric solutions for the healthcare needs of people around the world, with a focus on patient monitoring, assistive and diagnostic devices.
CareNx Innovations – Aditya Kulkarni – builds technologies to deliver healthcare services to remote patients using mobile platforms, it’s latest offerings are in the prenatal caregiving sphere
Algosurg Products – Amit Maurya – is developing the next generation of products, that can revolutionise the way surgeries are being performed, using advanced computing methods, enhanced visualisation and automation.
Campus Time – Amruta Desai – is a mobile app for students on college campuses to engage with their college community by making it easy to connect, collaborate and explore.
ShopsUp – Anmol Vij – is a hyperlocal store discovery app with cognitive capabilities, which enhances the shopping experience of it’s users and helps brick and mortar stores to get more relevant foot traffic to their stores.
The Department of Science and Technology has the objective of promoting new areas of Science & Technology and to play the role of a nodal department for organising, coordinating and promoting S&T activities in the country. Some of the mandates of DST includes the coordination and integration of areas of Science & Technology having cross-sectoral linkages in which a number of institutions and departments have interest and capabilities. Their mandate also includes the promotion of research and development in the latest avenues of innovation and cutting edge research.
The Society for Innovation and Entrepreneurship (SINE) is a leading technology business incubator backed by IIT Bombay. Since it’s inception, SINE has incubated over 85 startups of which many are revenue generating, raised many rounds of funding and also have cross border operations.
Global Venture Alliance (GVA)’s primary focus is on high-tech entrepreneurs. GVA, based out of Moscow’s central administrative district, organizes development programs for high-tech entrepreneurs, educates and invests in them. It works closely with Governments, large international corporations and investors in a number of countries. The company currently has permanent offices in San Francisco and Moscow and also has over 20 partners in different countries around the world.
To know more, contact:
Dr. Anita Gupta
Ms. Poyni Bhatt
Mr. Daniil Kozlov,`
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