India Digest: Swiss Re launches startup accelerator; IITs put incubation plans on fast track

Reinsurance major Swiss Re is setting up a startup accelerator in India, while in the wake of the government’s Startup India initiative IITs have put on fast track their incubation programmes.

Reinsurance firm Swiss Re launches startup accelerator in India

Zurich-based reinsurance firm Swiss Re is in the process of setting up an insurancetech accelerator in Bengaluru to tap into Indian startups, according to a Times of India report.

Swiss Re­ has partnered with Barclays Rise and the Alchemist Accelerator for the project, which would offer a 16-week programme aimed at mentoring startups, which are at the intersection of technology and insurance. It will also partner with Nasscom 10,000 Startups and Kyron to curate startups and foster technology innovation.

According to the report, Swiss Re is looking at startups in the areas of internet of things, innovative distribution channels and robotic advisors and analytics.

Swiss Re will work with 4-5 startups for the first batch and will provide non-equity grant to these startups along with mentorship and business engagement. “We will be open to partners, whether it’s from insurance firms or any other company ,“ said Amit Kalra, head of strategic initiatives in Swiss Re. The applications are open to startups from other emerging markets.

IITs put startup incubation programmes on fast track

Owing to the push provided by the government for startup incubation, the new IITs, have put their incubation plans on fast track. IITs at Patna, Ropar, Mandi, Gandhinagar and Hyderabad, are in the process of setting up new incubators and strengthening the existing ones, said a report in The Economic Times.

While IIT Mandi is setting up its incubator called IIT Mandi Catalyst, IIT Patna, which recently received government grant to to set up an incubation centre for electronics system design and manufacturing, is approaching the ministry of human resource development and department of science and technology to set up another technology business incubator ( Rs 5 crore) that will focus on agriculture, among other areas.

IIT Gandhinagar, which already has one incubation facility in place, will use the Rs 5 crore it has received from the government to strengthen the existing centre.

Also Read:

Oracle to set up nine incubation centres in key Indian cities

IIIT-Hyderabad sets up accelerator focused on AI, deep tech

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.