Vedanta’s start-up support programme attracts 1190 entries
Vedanta Group’s latest initiative, Vedanta Spark, a “global corporate and innovation and ventures programme”, received 1,190 entries within three months of its launch from 19 countries across the world, including the UK, USA, Canada, Australia, and Singapore. Of these, 882 are Indian start-ups.
Vedanta Spark has shortlisted 100 start-ups so far for the next level of interaction with Vedanta. The key national partners for Vedanta Spark are Start-up India, AIM, and Agnii (Invest India), while the key global partners include Core Hub and World Start-up.
According to Vedanta’s statement, the top 20 start-ups will get a chance to work with the different entities of Vedanta following an evaluation process by panels consisting of professionals from Vedanta, domain experts, and external mentors from government ministries and industry. The company plans to make investments of about Rs 100 crore towards the start-ups with promising outcomes.
The programme was launched on 30 October 2020 with the objective of supporting a tech-revolution, by partnering with early-stage, growth stage, and venture stage digital tech start-ups to build and grow technology capabilities for achieving strategic goals in operations, product development.
Vedanta Limited, a subsidiary of UK-headquartered Vedanta Resources Limited, is an oil and gas and metals company with global operations.