Panasonic Life Solutions India (PLSIND) has introduced the “Panasonic Ignition”, a corporate innovation accelerator programme in collaboration with seed stage venture capital (VC) - 100X.VC. Panasonic aims to mentor, guide, and fund early to mid-stage startups that are creating innovative solutions in the field Energy Management for commercial & residential segments, in its first cohort of startups.
The accelerator programme “Panasonic Ignition” has been designed by Panasonic India Innovation Centre (IIC) to create a platform in collaboration with 100X.VC, where selected young founders of emerging startups, will receive investment, access to various masterclasses, expert mentorship, and support around product strategy and growth that would assist them towards building innovative technologies and products while solving real-life challenges related to energy management in spatial infrastructures.
Commenting on the launch, Manish Sharma, Chairman, Panasonic Life Solutions India and South Asia said, “India stands at the cusp of a digital revolution, boasting more than 750 million active internet users. Consequently, the nation has emerged as the third-largest hub for the global 'Start-up' ecosystem, hosting 90,000 'Start-Ups' and 107 unicorn companies with a combined valuation of $30 billion. Projections indicate that by 2030, we will witness the emergence of over 180,000 startups across the country.”
Kunio Gohara, Chief Transformation Officer (CTRO) & Head of CVC office, Panasonic Corporation said, “I am delighted to introduce Panasonic KURASHI Visionary Fund (PKVF), a CVC fund, which has been incorporated in July 2022 with a mandate to invest in early to mid-stage startup across Japan, Europe and India. Panasonic is committed to investing total amount of Yen 8 Billion (~ Rs 450 cr) in the mid to long terms in various interesting technology startups.”
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