Having disrupted the telecom ecosystem in the country, Mukesh Ambani has proved that Reliance Industries Limited (RIL) is an enterprise with lakhs of partners, supporting small and young entrepreuners in India. While he didn’t emphasize much on what he meant by this in the last AGM of the company, the Econcomic Times reports that RIL would soon shape into an accelerator for new businesses.
At the head quarters of RIL in Mumbai, the Main Administrative Building is a temporary office space for 20 techies who want to follow their dreams of owning new businesses and serving the future.
RIL has invested in six start-ups recently, according to the ET report. . In the public domain are investments it made in Netradyne, Videonetics and Edcast, startups in segments as diverse as artificial intelligence and video analytics. the gen next project, though, goes way beyond just investing.
However, when we talk about incubating start-ups it’s not just RIL. Mahindra & Mahindra, Marico and even Tata Group has similar imitative but where RIL is unique is its sheer breadth of entrepreneurship.
Ambani in 2016 had announced that RIL will have a Rs 5,000 crore corpus to invest in startups. The plan to play mentor and accelerator may also include setting up camps at Palo Alto, the world's startup capital, and in Tel Aviv in Israel, a hotbed for innovation.
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