N/Core, a non-profit startup incubator, has partnered with leading information technology firm Mphasis, which will invest over Rs 4.5 crore to support startups working in the social and development sector. Previously, N/Core a unit of The Nudge Foundation, has collaborated with Omdiyar Networks and Cisco Systems to incubate ventures developing solutions for land inclusivity and socio-economic issues using technology respectively.
As a part of the program, up to 26 startups will be incubated and mentored over the three-year partnership between Bangalore-based N/Core and Mphasis, which specializes in cloud and cognitive services.
In another development, N/Core has handpicked a new batch of ten-non-profit start-ups for it’s the six-month incubation initiative. These early stage companies constitute the second batch of N/Core’s Open Cohort, which is supported by supported by Mphasis, Omidyar Network and DE Shaw & Co.
During the program, each non-profit will receive a grant of Rs 10 lakh and mentorship under a roster of industry veterans.The ten early-age startups have been picked from across a pool of thousands of applications and work across sectors including education, policy and governance, housing, poverty, art, music and technology.
N/Core that started in January 2017 has already incubated nine startups and 18 more are now undergoing incubation, including this new cohort.(Story Courtesy: Mint)