JioGenNext makes investment proposals to homegrown firms developing 5G solutions: Report

JioGenNext, a startup focused division of Reliance Industries Limited (RIL), has made investment proposals to several domestic firms developing 5G solutions as part of its attempt to launch a locally built next-gen network, ETTelecom reported.

“Some of the home-grown companies have received business proposals from Reliance Jio GenNext, which wants to acquire local firms developing 5G solutions,” said one of the persons on the condition of anonymity.

Another person said, “Jio is looking at Indian companies that are in the final stages to develop 5G components or radio network products since a start from scratch will only drag the final outcome by almost four years.”

The startup focused division of Reliance Industries Limited mentors startups’ founders and brings them into its fold through strategic investments as well as commercial partnerships.

It is to be noted here that Indian firms like Tejas Networks, Nivetti, Vihaan Networks, Himachal Futuristic Communications, and Niral Networks are among those in advanced stages of developing open-source software-based 5G solutions.

Bengaluru-based Niral Networks confirmed that Jio’s startup accelerator had sent a proposal but did not reveal any further details.

“Our home-grown solution is an alternative to the likes of Huawei and Cisco. If Jio can support us in our vision by using our product in their 5G network, it will also help us to grow internationally,” said a Niral Networks spokesperson.

Jio has said it is developing its own 5G technology which it plans to scale up in India and then take it to other parts of the world.

Two years ago, the Mukesh Ambani-owned company had also purchased US-based telecom solutions provider Radisys to accelerate Jio’s technology leadership in the areas of the Internet of Things and 5G.