TenX2, a provider of business acceleration, which mainly deals in health-tech, edu-tech and smart-tech, has now forayed into Indian market to foster startups, working on latest technologies including artificial intelligence (AI), internet of things (IoT) and big data among others.
Started in 2016 by Mike Mastroyiannis, former CEO of Philips and Siemens, the company aims to tap the domestic startup companies that are working in the new technology.
The startups, which are working on different technological products to enhance deliverables in different sectors will be identified and funded through its network of venture capital funds.
The firm has given reins to Jubin Mishra, the former global head of Sankalp Intellecap, to spur its Indian business.
Mishra, who already has proved his mettle at global technology firm Accenture and financial major HSBC, will drive company’s initiatives to spot such startups. The selected startups will be cultivated through all kinds of supports i.e financial as well as marketing and strategic one.
Shedding light about the objectives of TenX2, Mishra, who is also a partner at the company, said: “Despite having a vibrant ecosystem, many Indian startups are still not able to succeed due to scarcity of funds and ability to get their business model validated apart from the critical growth Enablement support. In TenX2, we are going to fill those gaps which are currently lacking.”
“We are looking at those kind of startups which are developing IP (intellectual property)-based products and smart IoT solutions that have universal appeal,” Mishra added.
Our panel of experts, which has hundreds of CXO-level executives will give their support for faster scaling up.
Responding to modalities of work, Mishra said, “Our panel of experts, which has hundreds of CXO-level executives will give their support for faster scaling up.”