Cisco thingQbator, a CSR initiative by Cisco in partnership with NASSCOM Foundation, will be felicitating 10 winning start-ups of its 4th Cohort. Launched in 2018, Cisco and NASSCOM Foundation are partnered with 18 universities to provide student entrepreneurship and build digital skills under the Cisco thingQbator program.
The name "thingQbator" (a combination of 'Internet of Things' and 'Incubator') was started as an internal incubator to identify and fund IoT ideas originating in Cisco's engineer community.
"Cisco thingQbator" is a virtual makerspaces program run in these partner universities where students can learn about digital technologies and turn their ideas into working prototypes, and in the process come up with local solutions to local problems.
The unique program, which successfully completed its third year, will be hosting a virtual felicitation ceremony and celebrate ten of the most promising and successful start-up ideas as part of the 4th Cohort. The top ten start-ups were chosen after a long shortlisting process, from amongst the 150 ideas presented to various panels, some comprising senior executives from Cisco, and invitees from the industry. Amongst the many dignitaries in the event were Rajesh Aggarwal, Secretary, Ministry of Skill. Development and Entrepreneurship and Dr. Chintan Vaishnav, Mission Director for Atal Innovation Mission (AIM). From Cisco's leaders like, Anil Nair, Vice President, Engineering, Cisco Systems India Vish Iyer, Vice President, Cisco Architectures, APJC, and Harish Krishnan Managing Director & Chief Policy Officer Cisco Systems, India and SAARC will be present to celebrate and cheer the accomplishments of the winning start-ups.
The main idea of the initiative lies in engaging students to produce innovative solutions to resolve real-world business problems. Despite, encouraging design thinking among students to solve local community problems, the initiative also sharpened their go-to-market skills.
The CEO, NASSCOM Foundation, Nidhi Bhasin said, "The Cisco thingQbator program has been successful in nurturing the spirit of innovation and entrepreneurship in young minds. Technology helps to create a wider and deeper impact when applied to real-world challenges. We're glad that through this platform supported by Cisco, 10 winners out of 150 teams with innovative ideas, will receive Rs 5 lakh each. I believe that this is an opportunity to skill and build a digitally equipped generation of young change-makers who look at value creation and social impact from the lens of an entrepreneur."
On the occasion, Secretary, Ministry of Skills Development and Entrepreneurship, Govt of India, Rajesh Agarwal said, "India is well known for innovation and well on its way to becoming one of the world's fastest-growing start up centres. To further accelerate this movement it is important that student entrepreneurs and Indian universities are given a more robust platform to grow and evolve. Which means renewed focus on state-of-the-art incubation centres, mentorship from industry experts and eye on skilling. It is heartening to note that Cisco thingQbator offers a great mix of these elements. I would urge the youth today to come together and form the heart of this entrepreneurship movement."