Trivandrum: UST Global, an IT solutions and services company based in Technopark, Trivandrum, has announced its strategic partnership with Blumberg Capital, an early-stage venture capital firm, which reviews several thousand startups a year and invests in about a dozen key companies per year. The partnership and ensuing investment will enable UST to introduce to its customers the latest disruptive technologies by working with the right innovative start-ups in Blumberg Capital’s portfolio.
In a release, Sajan Pillai, CEO, UST Global said, “This is a first of its kind partnership that goes beyond the traditional ways of creating, using, buying and selling technology. On the one hand, we are able to bring experimental cutting edge technologies to behemoth organizations which enable them to stay competitive and respond to demands from the market in real-time. On the other hand, we are giving start-ups access to Global 1000 companies that they do not have the resources to approach. Our aim will be to work with the right companies within Blumberg Capital’s portfolio that bring a significant advantage to our clients”.
Many large companies increasingly rely on innovation from outside of their own research and development efforts. With increasing frequency, cutting-edge technology is being created within start-ups, often funded by venture capital firms and private investors.
David J Blumberg, Managing Partner, Blumberg Capital said, “Large companies must innovate or suffer rapid disruption of their existing market eco-systems. For the selected startups that we invest in, this is an opportunity to assist Global 1000 clients and stay ahead in the competitive marketplace. It provides them a broad test bed for innovation. For our portfolio companies, working with UST offers streamlined access to global strategic customers, partners and distributors – supported by the credibility of UST’s reputation, technical services and distribution resources.”
In addition to the chosen companies that Blumberg Capital invests in, it also evaluates several thousand start-ups a year that add value to this partnership. Blumberg Capital may refer some of those companies to UST for deeper technical or commercial diligence, which may in turn benefit one or both the companies.
UST plans to leverage this partnership so that it can offer early access to innovation for their customers that are at a risk of impending disruption.
Kerala IT News