India Accelerator Plans To Invest In Around 100 Startups In 2021
India Accelerator, a seed-stage accelerator program, plans to expand its startup portfolio by over three-folds in 2021 with investment in around 100 such ventures.
Ashish Bhatia, Founder of India Accelerator, told PTI that India Accelerator invests Rs 25 lakh in select startups every year, then mentors them and connects them with other investors as they mature.
“While Accelerator programme is the core foundation for the success of our startups, there are other critical pieces needed to help grow a startup, these (new funds) help us in expand even further — to new geographies and in other domains, thus helping us to move forward with our target of picking up 100 high-pot startups every year.”
Ashish Bhatia said India Accelerator is close to launching SEBI-approved alternate investment funds, both for category-1 angel fund and category-2 venture capital fund. The alternate investment funds will be providing more funding opportunities for startups.
He added that during the COVID-19 pandemic, India Accelerator has become a pan India entity and is now planning to launch its programme overseas, including Singapore, London, Dubai, Africa, and the USA.
“Covid was, of course, an unplanned disaster, a lot of startups sank. Nevertheless, it helped us move to remote areas. Earlier, you heard about startups from NCR, Jaipur, Rajasthan, Gujarat, they only could come and apply. Now we are mentoring startups from Kerala, Chennai, West Bengal, we have become a pan India entity.”
There are around 38,000 active startups in India, out of which 26 are unicorns, as per a TiE report.
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