Mumbai (BSE) – 8 December 2011 – As part of its ongoing initiative to encourage innovation in India, Tata Communications announces its support of iAccelerator, a start-up incubation programme that provides Indian technology entrepreneurs access to mentoring, infrastructure and investment support to kick start their businesses. iAccelerator is the flagship program of the Center for Innovation, Incubation and Entrepreneurship (CIIE) at IIM Ahmedabad. Since its inception in 2009, the program has helped launch 17 successful start-ups in the Internet/mobile domain.
Tata Communications’ senior executives will mentor the entrepreneurs to launch their ideas. In addition, Accelerator participants will also have access to the company’s leading cloud, connectivity and collaboration tools* necessary to succeed in a global business community.
Nine start-ups have been selected for this year’s programme and have already been provided with working space, IT infrastructure, seed capital and mentoring from a team of industry experts in order to showcase their final prototype/product in front of angel investors at the end of January 2012.
Pranay Gupta, Joint CEO, Centre for Innovation Incubation and Entrepreneurship (CIIE) says, “In today’s globally connected environment it was important to support our finalists with reliable and sophisticated cloud, global connectivity and collaboration tools which is why there was no question in our mind that Tata Communications should be part of the iAccelerator programme this year. We are looking forward to seeing how the start-ups make use of their access to this world-class infrastructure to further their businesses and achieve economies of scale.”
Srinivasa Addepalli, Senior Vice President, Corporate Strategy, Tata Communications says, “Investing in talent and our communities is a core pillar of our business philosophy. The importance start-ups play in driving economic regeneration and innovation is unquestionable. Tata Communications is excited to work with these rising stars to help them reach their full potential.”
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Tata Communications Limited (CIN no: L64200MH1986PLC039266) along with its subsidiaries (Tata Communications) is a leading global provider of A New World of Communications™. With a leadership position in emerging markets, Tata Communications leverages its advanced solutions capabilities and domain expertise across its global and pan-India network to deliver managed solutions to multi-national enterprises, service providers and Indian consumers.
The Tata Communications global network includes one of the most advanced and largest submarine cable networks and a Tier-1 IP network with connectivity to over 240 countries and territories across 400 PoPs, as well as nearly 1 million square feet of data centre and collocation space worldwide.
Tata Communications’ depth and breadth of reach in emerging markets includes leadership in Indian enterprise data services and leadership in global international voice. Tata Communications Limited is listed on the Bombay Stock Exchange and the National Stock Exchange of India.
Certain words and statements in this release concerning Tata Communications and its prospects, and other statements, including those relating to Tata Communications’ expected financial position, business strategy, the future development of Tata Communications’ operations, and the general economy in India, are forward-looking statements. Such statements involve known and unknown risks, uncertainties and other factors, including financial, regulatory and environmental, as well as those relating to industry growth and trend projections, which may cause actual results, performance or achievements of Tata Communications, or industry results, to differ materially from those expressed or implied by such forward-looking statements. The important factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements include, among others, failure to increase the volume of traffic on Tata Communications’ network; failure to develop new products and services that meet customer demands and generate acceptable margins; failure to successfully complete commercial testing of new technology and information systems to support new products and services, including voice transmission services; failure to stabilize or reduce the rate of price compression on certain of the company’s communications services; failure to integrate strategic acquisitions and changes in government policies or regulations of India and, in particular, changes relating to the administration of Tata Communications’ industry; and, in general, the economic, business and credit conditions in India. Additional factors that could cause actual results, performance or achievements to differ materially from such forward-looking statements, many of which are not in Tata Communications’ control, include, but are not limited to, those risk factors discussed in Tata Communications Limited’s Annual Reports. The Annual Reports of Tata Communications Limited are available at www.tatacommunications.com. Tata Communications is under no obligation to, and expressly disclaims any obligation to, update or alter its forward-looking statements.
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