30 startups were shortlisted from over 500 entries
The first and second week of June 2020 saw the final pitches from about 30 shortlisted Retail & FoodTech startups who pitched to the jury members from the start ecosystem.
The Accelerator founded by Sid Mookerji is designed to reimagine the future of retail and food, with a unique approach that partners seed-stage startups with cutting-edge academic researchers and industry leaders.
The accelerator is an innovation lifeline for retailers who do not have the resources to sustain a meaningful program on their own, allowing them to invest in and own the technology which will power future profitability.
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Despite a number of constraints due to the Covid-19 situation, the team successfully sourced more than 500+ startups to get to the final 30.
“The startups show a lot of promise and are working to solve some of the key problems faced by the customers in the Food & Retail industry. The objective of our program is to help startups to establish themselves in the global markets,” says Director and India head of the accelerator, Sanjay Srinivasmurthy.
The startups, during the 12-week virtual acceleration program will receive intensive one-on-one guidance and mentoring by the Growth Hackers, Entrepreneur-In-Residence, CTO on Demand, Industry Mentors and investors.
Additionally, startups will also get to be part of the virtual workshops and will obtain key inputs on their business and financial plan.
During the 12-week program, Silicon Road will also invest an initial amount INR 25 Lakhs in the qualifying startups with a possibility of follow-on investments and investment through syndicates and partner investor networks.
Startups will also get access to a number of industry perks.
Here’s a look at the 6 startups that are part of the Silicon Road Accelerator Program
Buybot: It enables retailers and brands to set-up shop on WhatsApp. With API integration with messaging platforms, it allows two-way free-flowing conversation.
Buybot AI interprets & curates item shopping list and marks relevant retail touchpoints. It does not require any App or any inventory integration.
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Redesyn: It is a social media platform that lets creators and artists earn a monthly income by providing exclusive rewards & perks to their subscribers.
It provides creators with an exclusive channel & business tools to sell memberships & convert their designs into merchandise.
BFore: It is reimagining shopping for high-value products, by replacing the demanding research journey with a personalized conversational experience.
They are building intuitive chat-first AI-powered platforms to make finding the right product at a great price an easy and joyful activity.
Extovate Ventures: It is a new-age company focused on developing technology in the food packaging space.
It has patented self-heating and cooling technology that can be used to heat/cool the food with a press on a marked area of the food package
Upperclimb: Product of Athletebit Healthcare is a DIPP recognized Startup whose mission is to develop and bring to market, scientifically proven, natural ingredient based, safe sports nutritional supplements for athletes.
Scientifically formulated, the ingredients are carefully selected from the natural matrix for optimal nutrients to increase energy, maintain electrolyte levels, lessen muscle fatigue and increase antioxidants during sporting activity.
Supply 6: It is a Health and Nutrition startup currently working on its Meal v1.0 product.
It is a nutrition-complete & convenient drinkable meal powder for working professionals on-the-go when they do not have time for or access to real food.