Spark10, India’s first European startup accelerator aimed at helping early-stage startups to turn their minimum viable product (MVP) into scalable, investable business, has opened applications for its second batch, Cohort 2017-A.
Founded by Atal Malviya, the startup accelerator is backed by Jon Bradford, considered as the godfather of European startup accelerators; Paul Smith, co-founder and Managing Director of UK-based Ignite 100 Accelerator; serial entrepreneurs and private investors LN Parmi and Rajesh Gummadapu.
Spark10’s global mentor network of 500+ mentors includes Jonathan Quigley, Director, World Economic Forum, Switzerland; Director of CHC (Consumer Health Care) at Boehringer Ingelheim, a global group of companies in Japan and founder CEO Sleepout UK.
The accelerator will select 10 startups in its second cohort and the selected startups will be given $15K (INR 10 Lakhs) each as Seed funding, in return for 8% equity. In addition to that, it is also extending the support of international mentors, subject matter experts, angel investors, VCs as well as alumni network.
The programme will be 13 weeks long and startup founders are to build and scale their operations by the end of the programme, where they will get to pitch their ideas to potential investors on the Demo Day.
Spark10 launched its operations in India in December 2015 and in July this year, it announced the graduation of the first batch of its accelerator programme. The accelerator had selected nine Indian startups for its 13-week acceleration programme in February 2016.