R2 Data Labs, the data innovation of Rolls-Royce, has identified three start-ups for its first-ever Start-up Accelerator Programme.
The start-ups, ClearQuote (Xenon Automotive), PiChain Innovations and Imaginate Technologies, will be given an equity-free grant of £10,000 each and put through a six-month co-innovation programme that will include mentoring and technical support from Rolls-Royce.
A jury of Rolls-Royce and ecosystem mentors selected the three winners from 15 shortlisted finalists.
"The India Start-up Accelerator Programme is a reinforcement of our faith in the potential of Indian start-up minds in creating innovative solutions fundamental to the digital future of the industrial technology sector,” said Kishore Jayaraman, President, Rolls-Royce India & South Asia.
Under the programme, Rolls-Royce will mentor the selected start-ups and offer them an opportunity to connect, collaborate and commercialise their projects.
The programme will be kick-started with the allotment of £10,000 of an equity-free grant to each of the start-ups, along with the prospect of strengthening their products and building a business strategy.
The start-ups will work closely with the Rolls-Royce team and also get an opportunity to collaborate with industry experts as they work through the development of a proof of concept. The initiative is in line with Rolls-Royce’s commitment to collaborative innovation and building an ecosystem of partners that harnesses the latest thinking and technologies from a wide community of innovators.