The program will be a three-month pre-incubation setup and a six-month incubation engagement setup. Maruti Suzuki will offer assistance by giving access to a domain expert, mentorship, investor connect, and demos to the startups.

They have launched MAIL (Mobility and Automobile Innovation Lab) in January 2019 to support startups by helping them create innovative mobility solutions. This initiative will help to form a potential partnership between the startups and Maruti Suzuki to build technologies associated with future mobility.

“Mobility startup incubation program addresses the needs of early-stage startups, which have the potential of becoming large-scale businesses. This partnership with IIMB will spearhead innovation in mobility space. The Indian startup community provides much-needed impetus to Hon’ble Prime Minister’s vision of Startup India. The tie-up is aimed to nurture the next generation companies that will define future mobility solutions and can make a significant contribution to create jobs,” says Kenichi Ayukawa, Managing Director of Maruti Suzuki.

Prof Venkatesh Panchapagesan, Chairperson, NSRCEL, said “Our mobility program provides startups the practical expertise of a leader like Maruti Suzuki with the incubation support depth and experience of NSRCEL. We will leverage the broader IIM Bangalore’s network of faculty, students, and alumni as well as the expertise and counsel of a host of partner institutions who are active in this domain. Our message to the startups is simple: Once you come in, we will do whatever it takes to make you successful.”

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The industry has never seen a drop this big and traditional media like newspaper and radio’s revenues are much worse. In the second quarter of 2020, Print media accounted for just 18% and radio declined to 1% of the total Advertising Expenditure. Due to the pandemic and lack of business advertisers stopped giving advertisements in newspapers and radio.

Despite successful re-runs of popular mythological shows the Television channels failed to sustain their advertisers which led to a loss of 40% of ad revenue in the first quarter. Television and Digital medium accounted for 80% of the AdEx share and OOH and Cinema theatres were reported as “nil.”

Adex has declined from Rs 35,110 Crore in 2019 to Rs 21, 298 in 2020. Now as the country is returning to normalcy, the report shows that things are looking up for TV and Digital medium. With the festive season soon approaching, business is booming and advertisers have started returning in the past month. The launch of IPL and other to shows like Big Boss, Kaun Banega Crorepati shows a 60-72% rebound in the AdEx in the second quarter of 2020.

Amidst the pandemic, brands like Hindustan Unilever, Amazon, Procter & Gamble, Reckitt Benckiser, Maruti Suzuki have been advertising well to stay connected to their customers.

The post AdEx falls to 65% in the Q2 of 2020 – Pitch Madison Report appeared first on Latest stories from Media, Advertising, Marketing and Startup world.