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IESA-TiE and HAX join hands to accelerate IoT and hardware startups in India

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BANGALORE, INDIA: India Electronics and Semiconductor Association (IESA) and The Indus Entrepreneurs (TiE) have joined hands with HAX, the first and largest global accelerator and seed investor for hardware startups, based in Shenzhen and San Francisco.

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With their experience and expertise in incubating many successful startups across the globe, HAX will accelerate selected startups, with best-in-class prototype in manufacturing and access to global markets. Apart from helping reduce prototype to manufacture cycle by 2/3 they also provide access to developed markets and arrange to exhibit alumni at CES and CEBIT.

Arvind Tiwary, Chair of IoT Forum, said, “IoT in India as well as worldwide is at a nascent stage. Developing world class IoT start-ups is a potential as it is new worldwide, a lot of technology is just now being developed and involves HW as well as SW. To develop best-in-class we need to leverage best-in-class infrastructure and partners."

HAX and TIE IoT Forum will collaborate in market assessment and technology assimilation covering a range of IoT segments. IoT Forum will coach and help HAX select Indian startups for their programs.

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Benjamin Joffe, Partner at HAX said, “As devices become smart and connected the role of software and smarts becomes larger. We are excited at the opportunity to marry the Hardware capability of China with the Software capability of India. This can be a big game changer. India’s hardware scene is waking up: we made our first investment in India this year in Ray (rayiot.org), a health tech startup, and look forward to supporting the next wave of global startups from India."

Over the last 4 years it has built an alumni of close to 200 companies, the best among thousands of candidates, with projects ranging from consumer devices and IoT to robotics and health tech devices.

"We have been in discussion with IoT Forum for some months and are impressed with the capability at display. We realize that there is work to do to helping take them to market and HAX has a process and appetite to make it happen. We are also interested in the work being done by IoT Forum around securing the IoT (in partnership with CISO platform) and new communication technology in IoT networks and AgriTech,” added he.