IvyCamp and Sonata Software announced a strategic partnership to launch an Open Innovation Program. Sonata Program is specially designed by IvyCamp for Sonata Software and seeks to invite startups working on new-age technology solutions in IoT, AI, Machine Learning, Real-time analytics, Mobility, others. IvyCamp will shortlist the start-ups that apply basis their business model, financial, legal and HR due diligence and technology prowess. IvyCamp will leverage its team of global mentors who are alumni of Ivy League colleges such as IITs, ISB, BITS, others for the evaluation process. Those selected will get a chance to pitch to Sonata Software senior management for investment.
Sonata Program is now live on IvyCamp platform, www.ivycamp.in, that already has more than 3000 startups registered. Sonata Program will invite applications through the year, and every quarter IvyCamp will shortlist startups for investment evaluation by Sonata Software. All shortlisted startups will get access to a business and technical evaluation report by IvyCamp mentor experts, a due diligence report and access to 25,000 incorporate credits across its various partners on its platforms.
IvyCamp’s strategic partnership with Sonata Software is in line with its overall direction and focus of bridging the gap between corporates and outside innovation. IvyCamp has designed and led several such corporate start up engagement programs with HDFC Ergo, Axis Bank, Oracle Accelerator.
Dr. Anju Gupta, Co-Founder & President of IvyCamp said, “At IvyCamp, building and facilitating an ecosystem that enables corporates to engage with startups to create new funding and customer engagement opportunities for entrepreneurs and helping to bring strategic innovation for corporates, is a key area of focus for us. Though individual goals of corporates vary, at the core, these engagements are targeted to find new and disruptive technologies or business models, foster intrapreneurship, create strategic relationships, and create financial returns. We are thrilled to partner with Sonata Software and welcome them into our ecosystem”.
Vikram Gupta, Founder and Managing Partner, IvyCap Ventures Advisors Pvt. Ltd. says: “IvyCamp has built its Brand on the back of an illustrious Alumni Network – The quality of mentors this platform attracts is unparalleled. Our connect with Ivy League educational institutes is another feather in our cap! And now with a corporate partner like Sonata Software, IvyCamp is fundamentally creating a global ecosystem in which entrepreneurs are empowered to scale, grow and explore new markets. The future is going to happen in India and IvyCamp will be the enabler to bring innovation to market.”
“Fostering the cross-pollination of ideas and capabilities can serve as a catalyst for transformational innovation. We are thrilled to be partnering with IvyCamp in our efforts to forge strategic relationships with startups. IvyCamp has successfully demonstrated their depth and expertise with the startups’ ecosystem,” said Mr. Srikar Reddy, CEO, Sonata Software. “Sonata at its core is an innovation-focused company. Through our Open Innovation Program, we are proactively seeking collaborations with start-ups to give faster access to Sonata in new technologies and we will help the start-ups by taking them to market more effectively.”