UK-based corporate venture development network Venturespring has launched Venturespring Ignite, a six-week accelerator co-sponsored by Tata Communications, the telecommunications subsidiary of conglomerate Tata Group, TechCrunch has reported.
Venturespring was launched in 2012 to bring startups and corporates together while collaborating with accelerator and incubator initiatives. Corporate participants have included IBM, Vodafone and Unilever.
Venturespring Ignite will invite submissions from across sectors including media, aerospace and travel, fintech, artificial intelligence, healthcare and retail.
Successful applicants will attend a February 2018 summit on Necker Island to meet with heads of corporates and business leaders. They will also be eligible to receive funding from Venturespring.
Harris told TechCrunch: “We do not dictate how much equity we want like some accelerators do. We only take equity in the companies that we want to invest into and that want to be invested into by us.
“Just because they get selected onto the Venturespring Ignite program does not mean we take equity.”