Pramati and IIIT-Hyderabad set up co-innovation hub for disruptive ideas
Offers startups & enterprises a rapid app development and delivery environment, with design and strategic consulting
Hyderabad, India, May 2017
Pramati Technologies and IIIT-Hyderabad are jointly setting up the Pramati Innovation Hub, a co-innovation space in the institute’s campus. The Co-Innovation Hub will infuse tech-led innovation in businesses to bring game-changing ideas to life.
Trusted by enterprises worldwide, Pramati is a leading Indian Product Company and frontrunner in powering enterprise agility. The International Institute of Information Technology Hyderabad is a premier academic and research center for IT and computing sciences in India.
An MoU was signed by Pramati founder and CEO, Jay Pullur, and PJ Narayanan, Professor & Director, IIIT-Hyderabad. The Innovation hub will create an accelerator space to host and incubate startups. The startups’ ideas will be app-prototyped and further built into a full solution using the FastApps initiative (powered by WaveMaker, Pramati's flagship product). The co-innovation hub will also cater to enterprises who want to reimagine their business processes and explore new ways of collaboration and agility.
Commenting on the agreement, Jay Pullur said: “Pramati believes that innovation is a messy, painstaking yet inspiring cultural transformation. Our products and services help businesses become agile and ready for innovation. We are happy to partner with IIIT-Hyderabad to contribute to the exciting ideas of entrepreneurs – established and aspiring, to bring their dreams alive. With agility, every enterprise has the ability to be a change-maker.”
Professor P J Narayanan said, “We are happy to partner with Pramati. Corporate partnerships bring a lot of industry expertise and guidance to our students. With the startup culture booming in India, Pramati’s guidance would be invaluable to some of our bright minds”.
The Pramati Innovation Hub will function at two levels:
Startup Accelerator – Actively supported and hosted by IIIT-Hyderabad’s co-innovation cell, the 3-month Startup Accelerator Program will nurture entrepreneurs, playing the role of technology partner to rapidly prototype and bring their ideas to market, in days.
Enterprise Innovation Centre – Workshops will be conducted for enterprises to reimagine processes, remove data silos and become agile.
IIIT-Hyderabad will actively lead efforts to reach out to startups and shortlist them, besides inviting investor community to demo sessions. Startups will get access to full support services from IIIT-Hyderabad. For the process innovation initiative, Pramati and IIIT-Hyderabad will jointly conduct custom-workshops for enterprises who are eager to self-disrupt and innovate business processes.
India is home to the third largest number of technology driven startups in the world, but the struggle lies with non-tech enterpreneurs who have exceptional ideas but lack technological expertise to bring them to life. With incubation and guidance, aspiring and established entreprenuers can advance business goals effectively.
Pramati Technologies, a privately held company based in Hyderabad, India, and Mountain View, California, builds independent companies focused on profitable, well-defined markets in social, mobile, and cloud computing technologies. Among its companies are Reve Marketing, Inc., a marketing technology solutions company, WaveMaker Inc., Rapid Application Development platform, SpotCues Inc., an enterprise BOT platform and Imaginea Inc., a software innovation services company. Pramati companies serve large customers like Morgan Stanley, ICICI Bank, Visa, Kimberly-Clark, Sara-Lee, Liquidation.com, and others. Pramati has operations at Mountain View -CA, London – UK, Hyderabad, Chennai and Bengaluru in India.
The International Institute of Information Technology, Hyderabad (IIIT-Hyderabad) is an autonomous research university founded in 1998 that focuses on the core areas of Information Technology, such as Computer Science, Electronics and Communications, and their applications in other domains through inter-disciplinary research that has a greater social impact. Some of its research domains include Visual Information Technologies, Human Language Technologies, Data Engineering, VLSI and Embedded Systems, Computer Architecture, Wireless Communications, Algorithms and Information Security, Robotics, Building Science, Earthquake Engineering, Computational Natural Sciences and Bioinformatics, Education Technologies, Power Systems, IT in Agriculture and e-Governance.