Applied Ventures, LLC, the venture capital arm of Applied Materials, Inc., has selected six startups as part of the fifth cohort of the Applied Startup Technology & Research Accelerator (ASTRA) programme. The programme’s goal is to increase the pace at which deep-tech start-ups bring new solutions to the market in high-potential domains such as semiconductor technology, software, supply chain, and advanced manufacturing. All the identified startups are based in India, Singapore & Australia, the startups were shortlisted from 60+ applicants.
The funding was specifically channelled toward areas including but not limited to generative AI, Semiconductor and Display Technologies, Robotics, Cybersecurity, Advanced Materials and the Supply Chain as part of the ASTRA 2024 initiative. The criteria for the startups were solution novelty, the market opportunity and growth, the strength and expertise of the management team, and their alignment to AM’s technology and business strategy. According to Om Nalamasu, the Senior Vice President and Chief Technology Officer of Applied Materials, Inc., and the President of Applied Ventures, LLC, the participating startups are technologies of the future that have a chance to revolutionise sectors.
According to Anand Kamannavar, Global Head of Applied Ventures, LLC and sponsor of the ASTRA, the ideas imagined at ASTRA 2024 belong to new-generation enterprises tipped to steal the show in deep tech. They plan on investing in these startups and nurturing them through access to the firm’s resources to expand its operations, access more partners and proceed to upset more markets.
The startups selected during ASTRA 2024 can benefit from Applied Materials’ expertise in materials engineering, collaboration opportunities with the company’s business units, access to infrastructure and ecosystem partners, and exposure to industry-best practices. Through this engagement, startups can forge partnerships and explore investment opportunities to overcome market and technological barriers.
