Posted by Bengaluru, India | Singapore: Applied Ventures, the venture capital arm of Applied Materials, along with Applied Materials India Private Limited, selected seven deep tech startups during the fourth cohort of its startup engagement programme – ASTRA (Applied Startup Technology & Research Accelerator) in Bengaluru. ASTRA aims to collaborate with startups and transform disruptive possibilities into reality.
Based in India and Singapore the selected startups during ASTRA 2023 include Lightspeed Photonics, Portkey, Sungreen H2, Exposome, OIP Technologies, App Sentinels, and Ethereal Machines.
Chosen from a pool of 50+ applications, the selected startups pitched their business proposals to Applied Materials executives and industry leaders during the event. Fit to applied technology and business, high-value problems addressed, differentiation from existing market solutions and business models, and growth potential were among the criteria to evaluate these startups.
ASTRA 2023 focused on Generative AI, Semiconductor and Display Technologies, Sustainability, Supply Chain Solutions, Cybersecurity, Advanced Materials, Advanced Optics and Photonics, and AI Hardware.
“I would like to congratulate the seven selected startups for their innovative solutions. All of them have showcased exciting visions of the future, and we look forward to helping them reach their full potential through collaboration and mentorship,” said Om Nalamasu, SVP and CTO of Applied Materials, Inc., and President of Applied Ventures.
“The ASTRA programme connects us with some of the most dynamic deeptech startups, and we want to continue this incredible journey where Applied Ventures can play a significant role in fostering innovation, collaboration, and entrepreneurship to cultivate a thriving startup ecosystem,” added Nalamasu.
“The fourth cohort of ASTRA has showcased breakthrough innovations across the broader Materials to Systems stack in the areas of Generative AI, Semiconductors, ESG, and Supply Chain,” said Anand Kamannavar, Global Head of Applied Ventures, and sponsor of ASTRA.
“We are thrilled to engage with the shortlisted startups; they all have tremendous potential to transform the market ecosystem. Applied Ventures will continue to support breakthrough companies across the globe, help bring their innovations to market, and guide their journey towards becoming successful business models,” added Kamannavar.
“We’ve always believed in the power of entrepreneurship to drive meaningful change, and we’re excited to see how these shortlisted startups will contribute to India’s semiconductor ecosystem. By collaborating with these cutting-edge businesses, we are accelerating the creation of a local semiconductor ecosystem and building on the recent announcement of our intent to establish a Collaborative Engineering Centre in India,” said Srinivas Satya, Country President of Applied Materials India.