5F World, Chesapeake Tie Up for Digital Consulting
Partnership to focus on developing SME ecosystem, advisory service to startups
Pune: 5F World, the meta-startup founded by Ganesh Natarajan in 2016, has entered into a joint venture with The Chesapeake Group, New York, to provide digital trans- formation consulting, SME eco-system development and advisory service to digital startups in India and the US.
Natarajan, chairman, 5F World told ET, “We believe that digital is still a complex space, both for corporations and for startups. We want to use our experience to deliver true returns on digital investments of corporations and make partnerships, joint ventures and acquisitions happen in India and the US.” He said the firm had also signed a memorandum of understanding with Argentina-headquartered digital IT services firm Globant under which they would work toget- her on large system integrations. “The model they follow is similar to ours and we will work together on Indian clients,” said Natarajan.
The joint venture will focus on three areas of business: digital transformation consulting, building a startup ecosystem through a marketplace model and providing growth advisory to startups and SMEs operating in this space. Douglas Land, MD, The Chesapeake Group said, “We have been actively involved in helping mid-sized IT services companies identify partners for digital transformation as well as for acquisitions. This JV will focus on working with firms in the sub $25million revenue segment.”
The ten areas the JV will focus on are: customer journey management, user experience, cloud computing, social, mobility, analytics, augmented and virtual reality, machine learning, artificial intelligence and internet of things. The startups will be assessed for capabilities and aligned to present and future customer demand.
In the first year, the venture intends to get 150-200 startups offering specialised digital services onto the marketplace and work with between six-ten clients and help them scale. “We are looking at revenues of .₹ 10-15 crore in the first year, after which we will scale up in the US,” said Natarajan.
ON JV WITH 5F WORLD We have been actively involved in helping mid-sized IT cos identify partners for digital transformation. The JV will focus on working with firms in the sub$25m revenue segment DOUGLASLAND MD, The Chesapeake Group