Last week, as I was reminiscing my work while heading the IBM India Startup initiative before my foray into the VC world, I took a stock of the companies that were part of IBM India Smartcamp. IBM India Smartcamp was India`s first B2B startup challenge which I conceptualised keeping in mind IBM`s pioneering work in enterprise software, and conducted it for the years 2014, 2015 and 2016. I am thrilled to see companies like Hasura, Whatfix, Medikabazaar, Bizongo, SirionLabs, Vymo Asia, SigTuple and Whizdom that were part of IBM India Smartcamp going beyond Series C and D round of valuation. There were many companies like LogiNext, Signzy, Talview, THB, Silverpush, ftcash that went beyond Series B. The combined valuation of the IBM India Smartcamp companies is now more than $6 billion based on their last round valuations.
Besides that there were many companies that got acquired. Some of them are Orowealth (acquired by InCred Capital), Flutura ( acquired by Accenture), Cleanslate technologies (acquired by Bizongo), Allizhealth (acquired by SYMPLE), INICU (acquired by Child Health Imprints PTE), Pharmarack (acquired by DigiHealth), Dailyrounds (acquired by M3 Japan), Meltag (acquired by Sutherland) Shopsense (acquired by Reliance Industries Limited). Not to mention many companies who chose not to take external fundings but scaled very well.
All the companies part of the IBM India Smartcamp were early in their journey and it is extremely invigorating and humbling to see the impact created by IBM India Smartcamp in the Indian B2B SaaS ecosystem in terms of the value and the scale (many companies are having double digit $million ARR).
I also ensured that the finalists were given press coverage. Please find the media links of the IBM India Smartcamp finalists: https://lnkd.in/gSuYT9wN
For IBM, we not only were able to contribute significant revenues to its cloud business but also had a large number of startups leveraging IBM technology with modicum resources.
Personally there were tremendous learnings while running the IBM India Startup initiative which has been super useful in my current Venture Capital career. #venturecapital #B2B #SaaS #startups #corporateaccelerator