New Delhi, Dec 19 (IANS) Panasonic Life Solutions India and Panasonic Corporation in collaboration with a leading seed stage venture capital (VC) '100X.VC' on Tuesday announced that it selected 12 startups from over 140 entries received for the ‘Panasonic Ignition’ Corporate Innovation accelerator programme.

These startups will participate in the programme over the next three months. They will receive comprehensive support from both Panasonic and the 100X.VC teams, in the form of mentorship sessions, guidance, and financial resources to complete their project.

"This initiative underscores our commitment to fostering groundbreaking technologies and solutions that address the evolving needs of commercial spaces while contributing to a sustainable future," Manish Misra, the Chief Innovation Officer, at Panasonic Life Solutions India, said in a statement.

As part of this engagement, Panasonic will also roll out challenges for the startups and based on regular reviews the winner will be announced in March 2024.

The accelerator programme has been designed by Panasonic India Innovation Centre (IIC), part of Panasonic Life Solutions India, to create a platform in collaboration with 100X.VC, where selected founders of startups, will receive investment, access to various master classes, expert mentorship, and support around product strategy, the company said.

"Due to joint efforts by both the teams, in a very short span of time, we were able to attract many applications from high-quality startups. We look forward to working with the shortlisted startups and contribute to their journey over the next 12-14 weeks" said Yagnesh Sanghrajka, Founder and CFO at 100X.VC.