Vedanta launches initiative to rope in startups for exploring growth opportunities

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October 29, 2020 5:59 PM

The initiative 'Vedanta Spark' will tie up with early-stage, growth-stage and venture-stage digital tech startups, the company said in a statement.

This does not take into account any additional divestments such as Mozambique LNG stake sale, additional profits if BPCL acquires management control of Bina refinery and any further asset sales.This does not take into account any additional divestments such as Mozambique LNG stake sale, additional profits if BPCL acquires management control of Bina refinery and any further asset sales.

Vedanta on Thursday announced the launch of an initiative wherein the company will partner with digital tech startups in order to tap into massive innovation and growth opportunities.

The initiative ‘Vedanta Spark’ will tie up with early-stage, growth-stage and venture-stage digital tech startups, the company said in a statement.

Through Vedanta Spark, the company seeks young and innovative startups and specialists to come forward and join hands with Vedanta, thus unlocking value and growth potential at an accelerated pace, it said.

The initiative is looking at startups from across the globe as part of the programme, working in areas such as asset optimisation and predictive maintenance, exploration, mining and blasting.

“The initiative will offer various advantages for the startups – partnerships and collaborations, leverage massive capacity and resources of Vedanta group, tech and business expertise and most importantly strategic investments opportunities for the startups that offer significant value to Vedanta Ltd,” Vedanta Chief Digital Officer Anand Laxshmivarahan R said.

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