Vaultedge, a Bengaluru based startup, specialised in completing contract reviews by lawyers through considerable reduction in time taken using Artificial Intelligence (AI), was one of the startups that got graduated from the NetApp Excellerator programme by NetApp. The Excellerator programme helped participating startups realise the full potential of their ideas and innovations, fine-tune them and make them market-ready not just for India but the world. NetApp is one of the largest data management companies in the world. Out of around 250 startups that had applied for the program, only six were shortlisted by the company. This start up company likes to call itself, a legal-tech startup. Its software understands more than 10,000 types of contracts and can review a contract in less than 60 seconds, claims Murali Tirupati, founder of the company.
Then there was, VitaCloud, a startup which is into healthcare and provide caregivers data to create smart health profiles of their users, by combining several variables that affect the human potential like – vital signs, physical activity, sleep patterns, diet, medication, genetics, environment and others. The company also helps track physiological changes that occur during an illness or over the course of a normal day, allowing the creation of a personalized health baseline for every person. The company's digital health platform empowers doctors and individuals towards a world with continuous and connected care. Vitacloud uses mobile, cloud and data analytics to enable individuals to prevent, manage and reduce chronic health conditions through its “IoMT” – Internet of Medical Things – platform.
One of the participating startups, Scalend Technologies, which is into the fintech space also became the company's alliance partner. “Mentoring the startups in our very first cohort was a valuable learning experience for us. It allowed us to reconnect with the startup that we remain at heart. We will continue to support the startups through the NetApp Excellerator programme and provide them with the best ecosystem to achieve success,” said Deepak Visweswaraiah, senior vice president and managing director, NetApp India.
Interestingly, the NetApp Excellerator programme is aimed to help startups create innovative products and solutions that are market-ready. The programme enables startups to use the NetApp expertise and its ecosystem of partners, subject matter experts and customers to realize the potential of their innovative ideas. Startups that are selected can access NetApp platforms and technologies, tools, co-working space, HR, marketing, legal and tech support. NetApp provides an equity free grant of $15,000 to these startups upon completion of the programme. The startups own their IP (Intellectual Property) and the company does not seek any stake in the same.
The demo day, culminating the programme, was graced by Indian cricketer and former Indian team coach Anil Kumble. All the six start ups namely Lightmetrics, Adya, Vaultedge, Vitacloud, Enclouden and Scalend, demonstrated their achievements and progress to the venture capitalists. NetApp executives and different industry leaders were present at the event.
