Nuivio Ventures Inc. plans expansion in India with Kochi as a base
Kochi: Nuivio Ventures Inc., a US headquartered product startup factory, has lined up its India expansion plans with Kochi as its initial base. Nuivio Ventures brings together an ecosystem of innovative enterprises, early-stage investors and passionate entrepreneurial professionals to build standalone software product companies. Nuivio builds its ventures through a proprietary ‘Think-Build-Scale’ model, which leverages Frugal Innovation methodology, co-developed with Jaideep Prabhu, Professor at University of Cambridge. Nuivio’s vision is to have 50 B2B product companies and 50 entrepreneurs by the year 2030 and take 10 companies to IPO.
“Frugal innovation continues to make an impact to western enterprises and Ignitho (our product engineering company under Nuivio) has already been an early mover in integrating such technology innovations and methodologies into enterprise software solutions. Having proved the ventures model with Ignitho, we are now ready to scale up our plans to incubate and build more standalone software companies in collaboration with enterprises. With Kochi emerging as one of India’s leading startup hubs, we have lined up our India expansion plans with Kochi as our initial base. Startup Village in the past and the Technology Innovation Zone setup by Kerala Startup Mission gives Kochi a talent base with exposure to entrepreneurship. Kochi also has a sizable number of IT startups which provides a tech talent pool with experience working in a startup environment”, says Joseph Olassa, Co-founder and CEO.
Scott Nugent, Co-founder and CCO added, “Nuivio Ventures is uniquely placed to enable success for its SaaS (Software as a Service) startups as the approach is ‘market first’, where the products are first developed with enterprises via Nuivio’s product engineering company, Ignitho. This is a departure from the traditional startup models and ensures that Nuivio incubates a ready product with its first paying customer into a standalone product company. Nuivio also gives enterprises the option to monetize the jointly built products into jointly owned stand-alone companies with a revenue generation plan. As we get ready to expand our team, we continue to be on the lookout for talented professionals with entrepreneurial dreams to join us.”
Established by a team of senior software industry professionals with a proven track record in western markets, Ignitho is already a trusted partner to leading western enterprises like London Gatwick Airport, National Spine & Pain Centers, Sainsburys Group, etc. Nuivio Ventures adds to this growth story with successes in having created standalone product companies like iS3Talk developed in collaboration with the Southend-on-Sea Borough Council in UK.