RIL's GenNext Ventures, Microsoft set up innovation hubs.

GenNext Ventures, the venture investment management arm of Reliance Industries, recently signed a pact with Microsoft India to set up GenNext Innovation Hubs to offer resources to technology startups.

The 3-year partnership to set up a pan India initiative to catalyse the country's technology startup ecosystem was signed recently by R A Mashelkar, Chairman, GenNext Ventures and Board Member, RIL, and Bhaskar Pramanik, Chairman, Microsoft India.

'The first hub will start operations in October in Mumbai, and will be subsequently emulated across multiple cities in India,' a company statement said.

The MoU allows GenNext Ventures and Microsoft Ventures to bring together key stakeholders - academia, students, entrepreneurs, investors, and corporates - at the GenNext Innovation Hubs and offer some of the most critical resources that startups need to be successful.



HBL