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Applied Ventures, LLC, a venture capital arm of Applied Materials, Inc., in collaboration with Applied Materials India Private Limited, has announced the selection of seven deeptech startups for its fourth cohort of the ASTRA (Applied Startup Technology & Research Accelerator) program in Bengaluru.
ASTRA, which stands for Applied Startup Technology & Research Accelerator, focuses on nurturing deeptech startups and translating their disruptive ideas into reality.
The chosen startups from India and Singapore were selected from a competitive pool of over 50 applicants. They had the opportunity to present their business proposals to Applied Materials executives and industry leaders during the selection event.
The selected startups for ASTRA 2023 include Lightspeed Photonics, Portkey, Sungreen H2, Exposome, OIP Technologies, App Sentinels, and Ethereal Machines.
These startups were evaluated based on several criteria, including their alignment with Applied Technology and Business, their ability to address high-value problems, differentiation from existing market solutions, and growth potential.
The program’s areas of focus for this year encompass Generative AI, Semiconductor and Display Technologies, Sustainability, Supply Chain Solutions, Cybersecurity, Advanced Materials, Advanced Optics and Photonics, and AI Hardware.
Speaking about the startup selection, Om Nalamasu, Senior Vice President and Chief Technology Officer of Applied Materials, Inc., and President of Applied Ventures said, “The ASTRA program 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 start-up ecosystem.”
Commenting on the development, Anand Kamannavar, Global Head of Applied Ventures and the 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. 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.”
Further talking about the development, Srinivas Satya, Country President of Applied Materials India added, “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 Center in India.”
The selected startups from this cohort will undergo mentorship, potential collaboration with Applied Materials, and investment opportunities from Applied Ventures.
These companies will benefit from Applied Materials’ product development expertise, strategies for maximizing market opportunities, infrastructure support, and valuable ecosystem connections.