Samsung Electronics has announced the winners of the Global Startup Accelerator Program (GSAP) that was held in partnership with International Institute of Information Technology Bangalore (IIIT-B) to support the local entrepreneurs in the country.
Its a part of the global program being held across four countries including India, Indonesia, Malaysia, and South Africa. Among the winners across four countries, five startups will be invited to Samsung headquarters in Korea.
31 employees from Samsung headquarters in Korea and five university students from Korea have mentored the 20 shortlisted startups over the course of two months as part of the Samsung Employee Volunteer Program.
As a part of its corporate social responsibility, Samsung R&D Insititute, Bangalore signed a MoU IIIT-B, under which 3 startups will get extended support from the local incubation centre at IIIT-B for the next 24 months.
“At Samsung, we strive to encourage young minds and nurture the spirit of innovation. With the Global Startup Acceleration Program, our experts and engineers from different domains are volunteering to support the sustainable growth of local entrepreneurs in the early stage,” said Dr. Aloknath De, Chief Technology Officer, Samsung R&D Institute, Bangalore.
The winner of GSAP India was Hexpressions, a startup that offers affordable and ready to assemble homes made out of Composite Paper Honeycomb panels, and received a cash prize of ₹200,000. While the first runner-up Ziroh Labs that works in the area of privacy engineering and runtime encryption of data received ₹150,000 and second runner-up, Olly Credit, that provides mobile credit for millennials received ₹100,000.
Among other awards, the Best Improvement Award for most improvement during the two-month mentoring process was awarded to social enterprise Geriatric Care Network, which provides wellness and preventive healthcare solutions for the elderly, along with BrownPacket, hyperlocal wellness and medicines delivery platform.
Best Potential Award was awarded to Geriatric Care Network and Susurla VS Suresh of Startoon Labs, that offers solutions to physiotherapists to access the mobility and muscle strength of their patients.
Best Social Impact Award was won by Avidia Labs, that users AR and VR to offer an immersive learning experience to schools.