Business Networking

One recent innovative deal that deserves mention is the seed fund investment of about Rs. 4 crore (US$ 1 million) in TRI-Thinklabs in December 2007. TRI Thinklabs is the brainchild of two IIT Mumbai graduates, Gagan Goyal and Abhishek Biswal, who were incubated in SINE, IIT Mumbai. The company is
working on ‘Career Oriented Embedded Systems Training’ using robotics as a practical learning tool. It has already trained over 10,000 students in an ‘In- Campus Workshop Model’ over the last 12 months, in a hands-on environment to enable maximum exposure to actual shop-floor conditions. Over the next few years, it aims to train over 10,000 students per year, working with engineering
and science colleges in about seven cities in India. The broad goal of the company is to help provide trained skilled resources in the critical area of manufacturing, especially in hardware, automation and power sectors. The seed fund worked closely with the entrepreneurs before investing, on issues such as developing the idea, positioning it in the market, evolving strategy, btaining
feedback from industry, financial modelling, etc. In return, it has taken a stake of less than 30% in equity.