US-based Seed accelerator and incubator Techstars will launch its new startup accelerator programme in India next month. To this end, the company has hired Bala Girisaballa, former Managing Director of Microsoft Accelerator India, to run the programme.
Additionally, it has announced plans to set up a separate fund to invest exclusively in Indian startups. Techstars co-founder David Brown told Livemint that the company aims to support nearly ten early-stage startups with its soon-to-be-launched accelerator programme in Bengaluru. The programme aims to focus on hardware and software technology sectors.
The company has also set aside $5 Mn for India from its corpus of $300 Mn. He clarified that the investment can be amended according to the need.
Commenting on Girisaballa’s appointment, Brown said, “Last time when I was in India, it was all ideas. And now it’s reality.
We had big plans to do more than just an accelerator, but it wasn’t very tangible when we were here in August. Now I think it’s much more tangible—we’ve hired Bala, we’re going to run an accelerator here, we’re opening applications soon to run an accelerator here in Bengaluru, we have a lot of corporate engagements that we are excited about and we have a talent programme here.” The company plans to open the application process in April and launch the first cohort by end of the year. Read more from inc42.com…
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