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Applied Ventures, LLC, the venture capital subsidiary of Applied Materials, Inc., in collaboration with Applied Materials India Private Limited, recently announced that it has selected seven deeptech startups as part of the fourth cohort of its startup engagement program, ASTRA, held in Bengaluru.
What is ASTRA program?
ASTRA, standing for Applied Startup Technology & Research Accelerator, is designed to foster collaboration with startups to bring innovative and disruptive ideas to fruition.
The focus areas for ASTRA 2023 included Generative AI, Semiconductor and Display Technologies, Sustainability, Supply Chain Solutions, Cybersecurity, Advanced Materials, Advanced Optics and Photonics, and AI Hardware.
Through ASTRA 2023, Applied Materials and Applied Ventures aim to utilize their extensive technical knowledge and industry experience to support and accelerate the burgeoning startup ecosystem.
Anand Kamannavar, Global Head, Applied Ventures, and sponsor of ASTRA, said, “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. We are thrilled to engage with the shortlisted startups; they all have tremendous potential to transform the market ecosystem."
Who are the selected startups?
The selected startups, based in India and Singapore, were Lightspeed Photonics, Portkey, Sungreen H2, Exposome, OIP Technologies, App Sentinels, and Ethereal Machines.
- App Sentinels: Offers a full life-cycle API Security platform.
- Exposome: Specializes in material chemistry technology to mitigate industrial wastewater & emissions.
- Ethereal Machines: Focuses on Axis CNC Machining.
- Lightspeed Photonics: Develops optoelectronic interconnects and modular processors.
- OIP Technologies: Provides Optical-in-Package solutions with advanced packaging technology.
- Portkey: Creates production-ready tools for developing Generative AI apps.
- Sungreen H2: Develops high-efficiency electrolyzer components for Green Hydrogen production.
Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials, Inc., and President of Applied Ventures said, "I would like to congratulate the seven selected start-ups 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."
According to the firm's statement, The startups were chosen from over 50 impressive applications and had the opportunity to present their business proposals to executives from Applied Materials and other industry leaders.
The evaluation criteria included the fit to Applied Technology and Business, the value of the problems addressed, differentiation from existing market solutions and business models, and growth potential.
What will it benefit the selected startups?
The startups selected in this cohort will undergo further assessment for mentorship, potential collaboration opportunities with Applied Materials, and possible investment from Applied Ventures.
The company said that it will act as a consultant to the selected startups, assisting them in overcoming market and technology challenges and exploring avenues for scaling up. The startups will also gain access to Applied Materials’ product development expertise, market optimization methods, infrastructure, and extensive ecosystem connections.
Srinivas Satya, Country President, Applied Materials India said, “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.
Srinivas said the collaboration with the startups with accelerate the creation of a local semiconductor ecosystem and will power its intent to establish a Collaborative Engineering Center in India.
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