Mahindra group today said it will invest 2,00,000 euro (about Rs 1.51 crore) in a Finnish start-up, Medixine, as it taps into the start-up eco-system of the Nordic country for future innovation programme.
The group had conducted Avatar Hunt, a search for the next big idea in Finland.
This conveys what the conference was about. Finland, with its vibrant startup ecosystem & innovation capabilities is an important enabler of Mahindra FUTURise, Mahindra’s leap into the future. And Congratulations to MediXine, winners of our Avatar Hunt. https://t.co/IjvwdphcYV
— anand mahindra (@anandmahindra) December 21, 2017
From that seven entrepreneurs from a variety of industries, including education, healthcare, analytics, finance, IoT and mobility, were shortlisted.
“Mahindra will invest Euro 200,000 in the winning start- up, Medixine, which will enable it to achieve its business vision,” the group said in a statement.
Medixine has a suite of cloud software programmes that provide e-services to their patients and help them become active players in their own care instead of being passive targets, it added.
Mahindra Group Chairman Anand Mahindra said, “A combination of public R&D funding and focus on skill development has resulted in Finlands consistently high rankings in global innovation surveys.”
He further said, “Our intent is to leverage the strengths of this unique eco-system to help us discover the next big ideas and business models which will help us leverage the forces of disruption to create new opportunities for the Group in the future.”
The group had held its annual senior leaders conference in Helsinki. It currently has three businesses in Finland- combine harvester manufacturer, Holiday Club Resorts and IT services company. It employs over 1,400 people.