Reliance Industries Limited’s (RIL’s) startup accelerator initiative JioGenNext incubated 170 startups in seven years, according to the Mukesh Ambani-led company’s annual report for the financial year 2021-22 (FY22).
The JioGenNext accelerator programme has 30 corporate partners and more than 90 mentors on board to help startups scale operations and provide funding and portfolio management to selected founders. Since its inception, the conglomerate has said it has run 16 cohorts. JioGenNext claims to have received over 12,153 applications from aspiring entrepreneurs so far. 79 of the 170 mentored startups have raised funding, and 21 have been acquired by various companies. According to the report, startups in the incubator programme have raised more than INR 2,600 Cr in early-stage venture capital (VC).
