How ABB is strengthening its bond with deep tech startups in India
- ABB has enhanced its collaboration with the startup ecosystem in India by bringing in its global accelerator programme SynerLeap into the country.
Source | yourstory.com | Thimmaya Poojary
In the recent years, Indian startups have been receiving increased attention from across the world. Being the third-largest startup ecosystem in the world, India has also become a hotspot for research and development. Asea Brown Boveri (ABB), the 130-year-old Swiss-Swedish multinational corporation, has now come forward to enhance its commitment to the Indian startup ecosystem. The Fortune 500 company has been in India since 1949 as a business enterprise operating across multiple domains, and it was only natural that this industrial conglomerate tapped into the startup prowess in the country. Operating mainly in robotics, power, heavy electrical equipment, and automation technology areas, ABB is looking to tie up with deep tech driven young firms in the country through its various global initiatives.
The company’s venture capital investment subsidiary ABB Technology Ventures (ATV), set up in 2009, has invested in a clutch of Indian startups, and has now extended the scope of engagement with the introduction of its accelerator programme – SynerLeap in India. Founded in 2016, SynerLeap currently has over 60 startups under its portfolio spread across nine countries, and has established over 80 startups-ABB collaborations. Talking to YourStory, Gaetana Sapienza, VP, Global Startup Operations, Synerleap, says,