IDG partners Unilever, AWS on India early-stage program

According to a statement, the 2017 Innovation Program will target companies at the seed or Series A stage, with investments ranging from $500,000 to $5 million. Sectors of interest include consumer technology, software, healthcare technology and financial technology. Selected companies will receive mentorship and benefits from AWS such as credits and business support.

Through the 2016 Innovation Program, IDG received applications from over 1,000 consumer tech and software start-ups and invested in six of them. The 2017 program will add healthtech and fintech to the mix. The GP expects to hear from another 1,000 companies by the time applications close on June 26, as well as partnering with selected start-ups from its third India fund. That vehicle launched in 2016 with a target of $200 million.

IDG Ventures India is part of the global IDG Ventures network of funds, which manages more than $4 billion worldwide. The firm typically invests in technology-focused Indian companies at the Series A and B stages. Recent commitments include a $4 million funding round for fintech platform EarlySalary, investing alongside Dewan Housing Finance.

Earlier this year IDG Ventures partnered with Axilor Ventures to launch the Frontier Tech Innovators Program. The initiative is aimed at start-ups less than three years old developing frontier technology – emerging technologies based on cutting-edge research that have yet to achieve widespread commercial adoption. Areas of focus are expected to include industries like virtual and augmented reality, drones, robotics, artificial intelligence and blockchain.

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• Topics
• South Asia
• Technology
• Venture
• GPs
• India
• IDG Ventures
• TMT
• seed