New Delhi: Gurgaon-based India Accelerator is set to launch an incubation programme this month and offer early-stage technology startups benefits from its newly-acquired membership of the Global Accelerator Network (GAN), a consortium of 70 leading accelerators in the world including H-Farm in Italy, NXTP Labs in Argentina, SparkLabs in South Korea and Techstars in the US.
The first Indian startup accelerator to be part of GAN will also provide an intensive four-month programme in Gurgaon where startups will have access to inhouse growth hackers, UI and UX designers, legal teams and tax consultants.
The first batch of the accelerator programme will start from July and provide initial funding of $15,000-20,000 to select startups.
This is the second such development after early-stage venture capital fund Blume Ventures recently tied up with Draper Venture Network, a global collective of global venture capital firms to open up funding and networking opportunities for the fund’s portfolio companies.
“We had been in talks with GAN for the last few months to get into their fold. It will help us get access to global partnerships and best practices in accelerators and give an excellent opportunity to startups to connect with mentors, entrepreneurs and investors on a global level,” said Ashish Bhatia, Managing Director at India Accelerator.
Bhatia is a serial entrepreneur, having Co-Founded companies such as AppWorks, OrganIQ and eGamersArena. “The acceptance rate of startups for accelerators in GAN is too low at 2% from about 55,000 startups that apply within a year,” said Bhatia.
He said India Accelerator wants to accept only about five startups per batch in the acceleration programme, with two batches running in a year. The accelerator, which is domain agnostic, will primarily provide technology platform services required by startups in their businesses.
Source: The Economic Times
