BANGALORE 16th March 2015 – The International Institute of Information Technology-Bangalore (IIIT-Bangalore) and Peesh Venture Capital (PVC), a NASSCOM investment partner, have entered into a strategic partnership to accelerate and fund India’s Internet of Things & Mobile App start-ups. The goal of this public-private partnership is to produce successful, world-class Indian mobile app companies by combing IIIT-Bangalore Innovation Centre’s incubation facilities and knowledge ecosystem with PVC India-focused INR 310 Cr venture capital fund that invests in passionate entrepreneurs with disruptive ideas. “The precedent set by the success of Flipkart and Ola and the recent surge in acquisitions of Indian companies by U.S.-based firms like Facebook and Twitter, has inspired the imaginations of millions of India’s technology workers and college students,” said Peesh Chopra, Managing Partner of PVC and Investor in the Indian Angel Network. “PVC is very excited to partner with IIIT-Bangalore and bring Indian IoT and Mobile App start-ups to the world stage and in doing so, be part of India’s transformation into an economic superpower.” The partnership between IIIT-Bangalore and PVC was formalized on Friday, February 27th 2015 during IIIT-Bangalore’s inauguration of the IOT-to-Mobility Apps for Community Excellence program which is sponsored by the Government of Karnataka's Vision 2020 initiative that aims to jumpstart the mobility focused entrepreneurial ecosystem. Attendees for the inauguration ceremony included IIIT-Bangalore’s CEO- D V Jagadish and Director- S. Sadagopan and, Managing Partner of PVC- Peesh Chopra, Country Manager, IBM Country Manager Innovation Center- Mona Bhardwaj and CEO Robosoft- Rhoth Bhat.

Managing Partner of Peesh Venture Capital (PVC)- Peesh Chopra left, and Director of IIIT-Bangalore- S.

Sadagopan, exchange the Memorandum of Understanding

"Startup companies incubated at the IIITB Innovation Centre have acknowledged the strength and value of its ecosystem. Our external partners have added significant complementary value to the technology expertise of our Institute, said Mr. D V Jagadish, CEO, IIIT-Bangalore. “We are happy to announce our partnership with PVC which will add to the richness and capability of the support and mentorship offered to our startup ecosystem."

"IIITB has always believed in fostering innovation, entrepreneurship and connect with the Industry. Thus was born the IIITB Innovation Centre in 2009, which has helped convert several novel technology ideas to successful ventures.

Left to Right: CEO Robosoft- Rhoth Bhat, Managing Partner PVC- Peesh Chopra, Mrs. Katie Chopra, IBM Country Manager Innovation Center- Mona Bhardwaj

We are proud that companies like Tutor Vista have begun their operations at our Institute,” said Mr. S. Sadagopan, Director of IIIT-Bangalore. “The I-MACX initiative, supported by the Govt. of Karnataka, is an important step in leveraging the fast growing 'mobile apps' phenomenon to create IP, employment and economic value for the country."

About Peesh Venture Capital (PVC)

PVC invests in passionate entrepreneurs with disruptive ideas. PVC is currently investing out of PVC II, a $50 million (INR 310 Cr) fund focused exclusively on early stage investments in Ad Tech, E-Commerce, Gaming, Education, Mobile Apps, Enterprise Software, Wearables and Internet of Things (IoT). The PVC Accelerators, located in Bangalore and Gurgaon, are physical and virtual co-work spaces in

which entrepreneurs with disruptive ideas receive financial, strategic, technical and operational

mentorship helping them transform their ideas into a viable business proposition. The PVC Accelerators

are on a constant look-out for start-ups from across the sectors like Ad Tech, E-Commerce, Social Media,

Gaming, Education, Mobile Apps, Enterprise Software, Wearables, and Internet of Things (IoT).

Apply for PVC acceleration and funding here: http://peeshvc.com/contact.html

ABOUT IIIT-Bangalore IIIT-Bangalore, was established in 1999 with a vision to contribute to the IT world by focusing on education and research, entrepreneurship and innovation. The Institute is a registered not-for-profit society funded jointly by the Government of Karnataka and the IT industry. Since its inception, IIIT-Bangalore, with its unique model of education, research, and industry interaction, has grown in stature to become an institution of considerable repute in academic as well as corporate circles. The Institute works in partnership with the corporate sector, while retaining the freedom of an academic institution. It is inspired by other renowned institutions, and also strives to emulate an academic culture that is on par with the best international institutions. To know more about, please visit: www.iiitb.ac.in

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