Octaware Technologies, a leading software development, enterprise solutions and consulting firm headquartered in Mumbai, has set up ‘GoBizLab’, a unique technology innovation Lab to foster innovation and entrepreneurship at their office in Mumbai.
Brain child of Aslam Khan, CEO of Octaware Technologies, with cofounding team of senior executives from leading IT company, Investment firm and Startups ecosystem, ‘GoBizLab’ is a 20-seater Technology Innovation Lab that will curate, fund and mentor technology driven startups. GoBizLab will also work in establishing and running the student incubation centres at engineering and management colleges, encouraging student to become creators of new products and employers in new industries.
GoBizLab has already incubated sCytech, a software technology company, RelBiz, (collective real estate ownership platform) and Nasiha (online counselling and advisory). GoBizLab has signed two agreements with IMEET Mumbai and JIT Lucknow to mentor technology startups from the campus.
As part of the Technology Incubation Program, GoBizLab will fund the idea by taking equity in the range of 5% to 10%. GoBizLab mentorship programs are designed and aimed at providing opportunities for startups to get mentorship and work with industry experts to scale up their business quickly, particularly by taking advantage of cloud-based technologies. GoBizLab will be assisting startups, focusing in finance, healthcare, and citizen services, in capacity building, providing them access to technology, infrastructure and market out reach.
Launched within the Octaware campus, GoBizLab will also provide a platform for the company’s employees who would want to take the entrepreneurial plunge.
Speaking about the initiative, Aslam Khan, CEO of Octaware technologies said, “Innovation is at the core of what we do at Octaware Technologies. We see GoBizLab as a natural extension to what we do. As a company we strive each day to build a strong structure that fuels a culture of innovation through capacity building and mentorship. Startups at GoBIzLab will have access to Sandbox and Playbooks that will help accelerate their go to market strategy.”
He further said, “At Octaware, we are committed to empowering the next generation of start-ups that develop solutions to solve the most complex problems in the country. We are bullish on the potential of the Indian start-up ecosystem to bring about a change and eventually transform the industry.”