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Data storage and management company NetApp is looking to intensify its start-up accelerator programme, NetApp Excellerator in the coming months.
The US-based $6-billion company, which chose the Indian market to launch its first ever start-up incubation programme, is looking to incubate 6-8 data analytics start-ups in its third cohort. NetApp has already incubated 12 such start-ups in its last two cohorts since 2017.
Ajeya Motaganahalli, Director, Engineering Programs and Leader of NetApp Excellerator, said, “We started with a small cohort in Bengaluru where we received about 250 applications and we selected only 6 from the lot. It is getting bigger and bigger and for the second cohort we received 450 applications. We are quite selective about the companies we want to incubate and are looking for data management and analytics companies that come with strong business plan and solve real tech problems.”
However, NetApp is not planning to invest in these start-ups by picking stakes in them but by providing grants, workspace, global mentorship and helping these companies get business, both in India and international markets. NetApp currently provides grants worth $15,000 to each of the incubated start-ups at the end of the four-month programme.
Most of the start-ups that NetApp selects are into the B2B space, Motaganahalli said, adding that the basic criteria while selecting start-ups depends on the number of paying customers these start-ups have.
Some of the start-ups that would graduate from the last cohort are ArchSaber, SigTuple Technologies, Nanobi Data and Analytics, Data Ken Technologies, BlobCityInc and Anlyz.
Motaganahalli said that most of the start-ups are looking to solve real problems in either the fintech, digital health or autonomous driving and their innovations are about providing affordable solutions in their respective areas.
“In our third cohort. for which the applications will open from June 28 onwards, we are looking at slightly bigger and mature companies. We also look to collaborate and partner with these companies,” he said and added that a few of these companies might also get investments from NetApp’s corporate development initiative that invests in start-ups by picking up minority stakes in them.
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