As Indian Prime Minister Narendra Modi urges nation to ‘Start-up’ and ‘Stand-up’ during his I-Day speech. The giants of Indian business are slowly but gradually waking up to the increasing power of start-ups in India. In a bid to be part of this flourishing ecosystem, Aditya Birla Group has launched a new initiative to collaborate with start-ups.
Called Bizlabs, the initiative will work with start-ups in the retail, financial services and mobility businesses—areas where the group has a large presence through firms, including its retail, fashion & lifestyle and mobile phone services units, the company said in a release.
“Our objective at Aditya Birla Bizlabs is to enable the combination of the technology and ingenuity of the start-up ecosystem with the power and reach of the group’s businesses to create a platform to foster growth and rapidly scale-up businesses. We are excited with the prospect of working with start-ups on a collaborative platform,” Dev Bhattacharya, group executive president, Aditya Birla Group said.
Bizlabs is a 20-day programme, in which the selected entrepreneurs will get access to CEOs and other top leaders of the Aditya Birla Group.
“In addition, the selected start-ups will have the opportunity to scale up by entering into a commercial arrangement with the group’s businesses. They may also receive an investment from an independent arm of the Aditya Birla Group,” added Bhattacharya.
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