Aditya Birla Bizlabs to help start-ups scale-up in a controlled business environment
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In order to collaborate with start-ups and provide them opportunities to scale up in a large operating business environment, Aditya Birla Group announced the launch of Aditya Birla Bizlabs. Aditya Birla Bizlabs is a 20 day program enabling start-ups that provide innovative solutions in fields like - Retail, Financial Services and Mobility, amongst others to collaborate with the Aditya Birla Group. These are also the industries where the group enjoys leadership positions via its businesses such as Idea Cellular, More, Pantaloons, Madura Fashion & Lifestyle and Aditya Birla Financial Services.
The start-ups can leverage the Group's reach and business expertise to scale up in a ready and operating business environment. The Aditya Birla Group is in the league of Fortune 500, with $41 billion in size. Over 50 per cent of its revenue flows from its overseas operations spanning 36 countries.
Commenting on the same lines, Dev Bhattacharya, Executive President, Aditya Birla Group, said, “Our objective at Aditya Birla Bizlabs is to enable the start-up ecosystem with the power and reach of the group’s businesses to create a platform to foster growth and rapidly scale-up businesses."
BizLabs’ core programme will provide selected start-ups an opportunity to interact with CXOs and business teams who will give them industry insights, enabling them to develop a plan to scale up their business. In addition, the selected start-ups will have the opportunity to scale up by entering into a commercial arrangement with the group’s businesses. They may also receive an investment from an independent arm of the Aditya Birla Group.
Apart from Aditya Birla group, there are many other companies who have taken similar initiatives to encourage and provide opportunities to start-ups. Recently, Tracxn, in June this year, announced that it would launch an incubator called TracxnLabs, which would invest $20,000 to $50,000 in various start-ups. Similarly, Cisco and GSF joined hands to launch an accelerator programme for start-ups in the month of February this year. The programme would focus on both software and hardware platforms.