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2014-09-17

IBM Innovation Centre to partner with 100 tech start-ups in India

Unlike peers, IBM is focused on enterprise start-ups and does not provide funding or take a stake.

IBM has announced that it has partnered IBM Innovation Centre in Bangalore has partnered with 100 big data and Internet of Things (IoT) start-ups in India, as reported by Economic Times.
 
 
"There is a tectonic shift in the way IBM is looking at startups. It is no more about donating software, keeping them happy and feeling good that your conscience is clear," Karthik Padmanabhan, ecosystem development leader, IBM (India and South Asia) told ET.
 
 
Experts said IBM started engaging with these start-ups five months back as these technologies are strategic for clients such as retailers Walmart, Tesco and banking and financial services firms Barclays and RBS.
 
 
Unlike peers, IBM is focused on enterprise start-ups and does not provide funding or take a stake. Instead, it offers mentoring, software, hardware, technical expertise, marketing and sales facilities. It also helps the start-ups connect with venture capital firms and accelerators across the country. In return, IBM benefits as their technology gets embedded in products and services offered by start-ups to enterprises.
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