French multinational Capgemini looking to partner with Indian startups
Capgemini Consulting is expanding its startup support operations in India. Leveraging its Applied Innovation Exchange presence in the country, the firm is seeking to support startups in the fields of data analytics, artificial intelligence and Internet of Things (IoT), connecting with global clients.
India is a huge potential market, and has its own booming startup ecosystem, boasting the third largest startup hub globally with more than 4,000 startups. The growing market potential, strong talent and rich startup market is attracting the attention of global startup incubators, including the likes of Capgemini (in combination with its management consultancy arm Capgemini Consulting).
In February the firm began to support promising startups from its Mumbai based Applied Innovation Exchange (AIE). The exchange provides a location at which a range of expertise meets enterprise in the form of startups, primarily in order to support the rapid development of propositions from idea to implementation. The AIE currently operates from nine innovation centres scattered across the globe, with one in Mumbai, India. The centre in Mumbai has been the epicentre for its work with Indian startups so far. According to John Brahim, member of Capgemini Group Executive Committee, startups offer a dual potential, “This a two-way street as we offer them opportunities to piggyback on our corporate clients if they have great solutions and we can embed their technologies on our platforms.”
Capgemini – according to reports – is looking to expand its operations within India’s startup market, seeking in particular to support top startup propositions within the fields of data analytics, artificial intelligence and Internet of Things (IoT). The firm will provide incubation and accelerator services to the select startups, which will provide them with an environment in which they can thrive and quickly scale as they venture onto international markets.
The reports are that the company will now expand its reach further into the Indian startup landscape with additional opportunities for collaboration in Delhi, Mumbai and Bengaluru. Brahim adds, “I think startups rely too much on venture capitalists to bring them to markets.” The AIE offering is equipped with rapidly connecting startups with the firm’s network of global clients, many of which are desperately seeking innovation.
Regarding the opportunities offered by Capgemini and others, Rao Subrahmanya, CEO of Discover Dollar, says, “It’s difficult for startups to find enterprises across the ocean, and for big corporations, it’s like seeking a needle in the haystack. This is the gap Capgemini is trying to bridge. There are many startups in India that are facing such problems — building products, but not able to connect with overseas clients. One way to do so could be by connecting with their offices located in India.”
A recent analysis of highly successful startups in Europe shows that the region has nearly 50 startups that enjoy a value of $1 billion or more.
