Chennai, NFAPost: Applied Ventures, the venture capital arm of Applied Materials, is giving a boost to promising technology startups in India through mentorship and collaboration as a part of the ASTRA (Applied Start-up Technology and Research Accelerator) 2020 program.
At a recent virtual event hosted by Applied Materials India Private Limited, eight startups in the areas of Industry 4.0, chip design, life sciences, advanced analytics, sensors, robotics and AR/VR pitched their product offerings and business plans, and will be further considered for potential collaboration with Applied Materials and investment opportunities with Applied Ventures.
The startups that presented at the ASTRA 2020 event are: AiNDRA, AjnaLens, AlphaICs, Ecolibrium, Lightspeed AI, Multinanosense, NiMo Planet and SwitchOn. If selected, the startups will receive mentorship and consultation from Applied Materials India on design, technology and go-to-market strategy, as well as gain access to Applied’s infrastructure and explore collaboration and joint development opportunities.
Applied Materials India has existing engagements with eminent organisations like C-CAMP, BIRAC, Zinnov, Bharat Innovation Fund and Pi Ventures, and these relationships will further help support and mentor the startups.
Applied Materials Senior Vice President and Chief Technology Officer and President Applied Ventures, Om Nalamasu, said, “There has been tremendous progress in the last few years in the Indian startup ecosystem and all eight companies that participated at our ASTRA 2020 event are working on unique solutions. We are impressed with their knowledge, commitment, passion and focus on creating exciting innovations. I look forward to the next steps of our collaboration.”
Key strategic and collaborative initiatives like ASTRA are becoming an important source of industry support and capital for startups that are looking to build a globally sustainable business.
Through ASTRA, Applied Materials India is strengthening the local startup ecosystem and helping further develop the country’s abundant technical and industry expertise. Over the last two years, the company has connected with 14 startups working on developing differentiated solutions in semiconductors, displays and adjacent markets, including life sciences.