Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., is giving a boost to promising technology start-ups 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 start-ups 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 start-ups that presented at the ASTRA 2020 event are: AiNDRA, AjnaLens, AlphaICs, Ecolibrium, Lightspeed AI, Multinanosense, NiMo Planet and SwitchOn. If selected, the start-ups 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 organizations like C-CAMP, BIRAC, Zinnov, Bharat Innovation Fund and Pi Ventures, and these relationships will further help support and mentor the start-ups.
Sharing his thoughts on the success of the ASTRA program and the start-up ecosystem in India, Om Nalamasu, Senior Vice President and Chief Technology Officer, Applied Materials, Inc. and President, Applied Ventures, LLC, said, “There has been tremendous progress in the last few years in the Indian start-up 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.”