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Reliance Venture strikes alliance with Stanford Business Competition
By siliconindia
Mumbai: Reliance Venture Asset Management, a corporate venture capital firm and an arm of the Reliance Anil Dhirubhai Ambani Group, announced its partnership with Business Association of Stanford Entrepreneurial Students (BASES), a student entrepreneurship organizations in the U.S. which is institutionalized under the aegis of Stanford University. As part of the partnership, Reliance Venture Asset Management is the only Indian venture capital firm to associate with BASES for 'e-challenge', its business plan competition and will play a pivotal role as a jury member to decide its winners. The company will also participate in one of BASES - flagship programs titled e-Bootcamp; a 3 day intensive entrepreneurship workshop.
Commenting on the association, Harshal J. Shah, Chief Executive Officer and Board Member, Reliance Venture Asset Management said, "As a company philosophy, we have believed in being patrons of initiatives aimed at promoting collaborative Indo-U.S. investments. Our recent association with MIT $100k entrepreneurship competition and now with Stanford BASES is a testament to this approach. Over the years, we have witnessed some exemplary ideas emerge from the student community at Stanford as a result of the Stanford BASES platform and are excited to partner Stanford to discover the next generation of budding entrepreneurs. We look forward to nurturing this talent through our 'summer incubation program' in India."
Founded in 1996 by five Stanford University engineering students, Business Association of Stanford Entrepreneurial Students (BASES) is a non-profit and student run organization. It currently consists of 5000 active members and a strong alumni group which includes renowned global venture capitalists and entrepreneurs who have built several multi-billion dollar companies including Google, Amazon, Apple, Hewlett Packard, Cisco and several others. Alvin Tse, Co-President, Business Association of Stanford Entrepreneurial Students (BASES) said, "We are very happy to associate with Reliance Venture Asset Management as our sole India partner and are confident that our participants will receive the requisite handholding from their team to explore entrepreneurial prospects in the Indian market."
Stanford BASES has helped create a number of innovative and successful companies over the last few years, such as LightBit [acquired by Arasor], Ingenuity, Gigabeat, Pandao, Penguin Computing, T-RAM, Scalable Life, Xagros, Epitrope, and Voltage Security (formerly IdentiCrypt).
