Panasonic Chooses 12 Indian Startups for Corporate Accelerator Program
Panasonic Life Solutions India and Panasonic Corporation have partnered with the prominent seed-stage venture capital firm '100X.VC' to unveil the selection of 12 startups from a pool of over 140 entries for the 'Panasonic Ignition' Corporate Innovation accelerator program. Over the next three months, these chosen startups will actively engage in the program, benefiting from extensive support provided by both Panasonic and the 100X.VC teams. This support includes mentorship sessions, guidance, and financial resources aimed at aiding the completion of their projects.
"This initiative demonstrates our dedication to nurturing innovative technologies and solutions that cater to the changing requirements of commercial spaces while also promoting sustainability", mentioned Manish Misra, Chief Innovation Officer at Panasonic Life Solutions India, in an official statement. As a part of this collaboration, Panasonic will introduce challenges for the participating startups, and based on regular assessments, the winner will be announced by March 2024.
The accelerator program, crafted by the Panasonic India Innovation Centre (IIC), a division of Panasonic Life Solutions India, aims to establish a platform in partnership with 100X.VC. This platform will provide selected startup founders with investments, access to various master classes, expert mentorship, and support focusing on product strategy, as highlighted by the company. "Through the combined efforts of both teams, we managed to attract a significant number of applications from top-notch startups in a remarkably short period. We eagerly anticipate collaborating with the chosen startups, contributing to their journey over the next 12-14 weeks", stated Yagnesh Sanghrajka, Founder and CFO at 100X.VC.
