Read up on Excubator’s take on Open Innovation scene in India…
What is the current state of the Open Innovation scene in India ?
While open innovation is a hot topic among the many enterprises in India (specially those that are Global in nature), many of them have just exploring the possibilities that open innovation with startups could bring. This is reflected in the number of large enterprises that are opening up incubators and accelerators in the country. Many of them offer equity free grants to startups.
What are the current hot topics in India? (i.e. AI, cleantech, fintech, etc.)
Perhaps the hottest technology topic in India among startups is Blockchain followed closely by AI and ML! But interestingly, it is the more stable technologies (IoT, Cyber Security, SAAS etc) that are attracting the attention of both investors as well as enterprises.
What are the expectations of Indian corporates when collaborating with startups?
Many large enterprises in India are just beginning experimental collaborations with startups; and hence the expectations are not very high. A stable team, a proven product (with a few paying customers) and a sense of a stable cash position (either in terms of revenue or funding) are enough.
Can you tell us more about how Excubator enables startups and corporates to collaborate?
We use our platforms (excube360, exseed and extent) to enable startup innovation as well as connections. We work with over 20 large enterprises, and over a 100 investors who reach out to us for not just their deal-flow (good quality startups), but also for our guidance to help both the startups and the large corporates quickly establish a great working relationship.