GINSERV Launches Gincelerator 2.0 with 18 Startups

Bengaluru, India | February 18, 2021 : Indian technology incubator GINSERV has launched Gincelerator 2.0 with 18 start-ups. Inaugurating the start-up program for mid-level start-ups in the fields of healthcare, medical technology and information technology, Meena Nagaraj, Director of Electronics, Information and Communication Technology and Managing Director of KITS, said, “It is the policy of the Government of Karnataka to provide access to cutting-edge technologies. Karnataka is making this possible and that is why 7 unicorns were born during the difficult period of the KOVID-19 pandemic. “Unicorn” is a term used in the venture capital industry to describe a private start-up worth more than $1 billion.

Founders and CEOs of the 18 start-ups benefiting from Gincelerator 2.0 at the launch of Ginserv’s accelerator program, with Girish Hiremath, Chief Operating Officer, GINSERV; PKB Menon, Managing Director, GINSERV; C G Betsurmath, President, GINSERV; Meena Nagaraj, Director, Electronics, IT & BT, Managing Director, KITS Government of Karnataka; Kapil Handelwal, Managing Partner, Toro Finserv LLP; Director, EquNev Capital Private Limited; S. Puttasubbappa, Director, GINSERV and H.R. Mahadevaswamy, Co-Director, JSS MVP, specializing in technical education.

“Karnataka is the first state to formulate an R&D policy for technology, thanks to our innovative way of drafting policies to promote innovation. Bangalore is the leading technology city with a growth rate of 8.5%, while the international average is 6.2%,” says Meena Nagaraj.

Kapil Khandelwal, a well-known investor in medical technology companies, gave a speech on healthcare investment. “Healthcare has an impact and during the pandemic $150 was raised to fund Statrups’ mission,” he revealed. “We are a biotech powerhouse and Karnataka is the most attractive place for investment,” said Mr. Handelwal, who is managing partner of Toro Finserv LLP and director of EquNev Capital Private Limited.

These are usually the attributes of startups with young people and their ideas. But SK Dixit, who is not yet 60, is the founder of a startup and CEO of a wearable diagnostics company. His innovation, the wearable ECG device, Cardiac Wear, is on the market.

Gincelerator 2.0 will fund 18 start-ups from across India, most from Bangalore. The accelerator program has been developed with the support of the National Science and Technology Enterprise Development Board (NSTEDB) and the Department of Science and Technology (DST) of the Government of India. Each of the 18 startups will receive a startup kit worth INR 25 lakh. Up to 100 startups were nominated, out of which 18 were selected based on various parameters.

Girish Hayrmat, Chief Operating Officer of GINSERV said, “GINCELERATOR 2.0 is designed to consistently accelerate the growth and scaling of stronger and faster technology start-ups by providing access to mentors, industry experts, investors and pilot access to potential customers. GINSERV, as a member of the Mysuru-based JSS Group, with its strong presence in the education, medical and healthcare sectors, can provide tremendous opportunities for technology start-ups in these sectors.”

18 starts in Gincelerator 2.0

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