SUMMARY
The Accelerator Programme Will Provide $150K Seed Funding To The Selected Startups
India Accelerator a launch pad for early age technology startups in association with Global Accelerator Network (GAN) has shortlisted six startups for its second batch of accelerator programme.
The startups selected from over 200 applicants will get expert mentorship and other facilities throughout the programme. India Accelerator will also be investing $150K in the selected startups as Seed Funding and they will also be entitled to receiving funds up to $25k to nurture their startup plan.
Commenting on the second cohort, Mona Singh, Chief Acceleration Officer of India Accelerator said, “The first cohort included tremendously talented startups creating innovative new products in areas ranging from algo-trading to AI-based platform that helps deaf people to be heard. The second batch carries forward that momentum as we look forward to working with more entrepreneurs in India`s thriving startup ecosystem.”
The Six Startups From The Second Cohort Of India Accelerator
Galaxy Card: Noida-based fintech startup offers a mobile-based Instant Credit Card. Founded in 2017 by Gunjeet Singh and Amit Kumar, the startup claims that its users can make their first purchase in just 3 minutes in comparison to three-four weeks of the regular credit card and that too without having to upload any documents.
Insurance Samadhan: Insurance Samadhan is a grievance redressal platform for all insurance policyholders. The startup is based out of Delhi and was founded in April 2017 by Shailesh Kumar Singh. The platform helps policyholders to resolve the genuine grievance of fraud selling, claim settlement etc.
Lawyered: Co-founded by Himanshu Gupta and Ashish Bhatia, this Delhi based startup is a discovery platform which connects corporate lawyers to Businesses, SMEs, Corporates, and Startups
NullPointer: Founded by IIIT Jabalpur alumnus Bala Sundaresan and Akshay Bharati in June 2017, Nullpointer is developing artificial intelligence solutions that can be deployed across sectors including fintech, insurance and telecom. The delhi-based startup is currently working on a regional language chatbot-based customer engagement and onboarding solution.
Queued: With the world advancing and inventing new ways to save time and optimizing lifestyle, Queued helps you order at your favourite restaurant before you reach. You simply need to visit the website, choose your favourite restaurant and order
EGA: EGA or eGamers Arena is a dynamic eSports platform based out of New Delhi, that allows video gamers of any skill level to win prizes and money through online and offline competitions.
What’s In Store For The Selected Startups?
India Accelerator (IA) will engage with startups to help them through the ideation phase and build a business model around their idea. The accelerator programme will help the startups connect with top technologists, entrepreneurs, investors, and mentors to help them grow.
Additionally, the startups will access the co working space with custom designed and other amenities. Through its curriculum, India Accelerator looks to bring the building blocks for every startup under one roof by offering mentorship, the network, the technology, the peripheral services (like legal, financial etc) and finally the seed capital to kick start their business.
India Accelerator is the first Indian accelerator which is also a member of Global Accelerator Network GAN. The Gurugram-based accelerator had launched its first cohort consisting of six startups in November 2017.
In the Indian startup ecosystem, the accelerator and incubator programmes have been helping several startups transform their Proof of Concept to a business. The funding support ensured also keeps up the interest and innovation in the startups.
Gurugram-based, GSF fintech accelerator launched its first cohort earlier this week. The GSF Accelerator will invest between $100 to $200K for up to 15% equity into the startups inducted into the accelerator program. TechStars, the US-based Seed accelerator, and incubator also launched its accelerator programme recently with a corpus of $300 Mn.
Aimed at creating an ecosystem for the founders to focus, build and grow their startups, IA’s cohort tackles the problem of shortage of investment at seed stage in the country. In this ever-evolving startup sphere, these disruptive ideas can very well grow into successful companies in future.
