SirionLabs Wins the Indian Edition of the IBM GEP SmartCamp B2B Challenge
SirionLabs is adjudged the top B2B start-up for its category-creator product, innovative technology and demonstrated effectiveness in addressing a complex business issue
Troy, MI, 12 January, 2016: SirionLabs, the leading provider of advanced vendor management technology products, today announced that it has been adjudged the winner of the Indian edition of IBM SmartCamp 2015 (part of IBM’s Global Entrepreneur Program), an annual competition to recognize the best and the brightest B2B start-ups in different parts of the world.
The 2015 SmartCamp India challenge, which commenced in August 2015, saw participation by 650+ B2B start-ups across 9 start-up hotspots in India. Through multiple rounds of rigorous evaluations by panels comprising CIOs, venture capitalists and senior IBM executives, 45 organizations were shortlisted to compete at the regional level and subsequently 9 start-ups made it to the national finals in Bangalore. SirionLabs was announced as the winner in Bangalore on December 12th at a grand event for its category-creator product, innovative technology and demonstrated effectiveness in addressing a complex, global business issue.
“IBM Global Entrepreneur Program conducted a nation-wide B2B start-up challenge across 9 cities with 3 regional finals. This is probably the largest B2B start-up challenge in India with 650+ applications and around 50 Judges from the Investment community, Successful entrepreneurs, IT Secretaries”, said Vivek Malhotra, Director, IBM India Cloud, adding, “The fact that SirionLabs emerged as the winner for India demonstrates its innovation and the potential to become the next Unicorn.”
“Due to the scale of services outsourcing at Fortune 1000 companies, effective management of strategic outsourcing relationships is one of the biggest challenges facing business leaders at these organizations – approx. $200 BN worth of value is lost annually due to the lack of effective vendor management in such engagements! We developed the industry’s most powerful vendor management (we call it supplier governance) platform, Sirion, to address this complex B2B challenge.” said Ajay Agrawal, CEO, SirionLabs. “We are pleased to have received this recognition by IBM as, in my view, it is an endorsement of the magnitude of this problem. I believe the increasing recognition of this issue will prompt CIOs, CPOs and vendor management leaders to explore proactive measures to address value leakage in strategic services engagements”.