HDFC Life Insurance Company said it will launch a startup-support programme in partnership with the global alumni network of IvyCap Ventures Advisors, a venture capital firm that backs startups floated by alumni of top engineering and management institutes such as IITs and IIMs in the country.
Called Futurance, the programme aims to identify and work with startups that have built products to harness opportunities in the insurance sector.
The alumni network called IvyCamp consists of around 10,000 entrepreneurs, technologists, mentors, investors, corporate partners and accelerators.
Futurance is scouting for startups working in emerging technologies and the selected ones could gain access to investment opportunities from HDFC Life and IvyCamp network.
HDFC Life is looking for startups working in areas of artificial intelligence (AI), blockchain, data sciences, augmented reality/ virtual reality, Internet of Things, robotic process application and computational linguistics, amongst others.
As part of this programme, startups will get an opportunity to connect with HDFC Life’s leadership, collaborate with business teams and commercialise their products.
“Our partnership with HDFC Life aims to create a platform where startups come together to further accelerate tech innovation and address critical pain-points of businesses. The programme also aims to encourage entrepreneurship in India and make it more attractive for the youth to create a substantially large number of jobs every year,” said Anju Gupta, co-founder and president of IvyCamp.