According to Techstars, Bengaluru is the gateway to foray into the emerging markets of India and as many as 21 nations have applied for the programme
US-based startup incubator, Techstars has selected Bengaluru to set up its first city-based startup accelerator programme in India. With an investment of $120,000, the city accelerator will be enrolling around 10 startups by December 2018 for the January to April 2019 programme.
Startup accelerators support entrepreneurs and business ventures by offering fixed-term seed investments for a period of 3-6 months, mentorship and other guidance to push the startups to become sustainable businesses in the long-run. Chris Heivly, an entrepreneur at Techstars said that Techstars help early ventures explore and make their businesses sustain with the support of advertising and technology.
Bengaluru gateway to the startup ecosystem
Bala Girisaballa, Head, accelerator programme, Techstars India regarded Bengaluru as the gateway to India’s emerging markets and a talent hub. Techstars had received applications from as many as 21 countries for the accelerator programme to enter India with their product ideas in the Indian landscape.
Techstars in India
The startup incubator has planned to launch ecosystem development programmes to boost the startup ecosystem in the cities that are yet to kickstart their startup journey. It had entered India by partnering with a consulting firm called ANSR which supports Fortune 500 companies to set up technology centres in India. Techstars has over 1,000 early-stage ventures globally. It has around 50 startup accelerators worldwide, of which around 15 are city-based accelerators. It is eyeing partnership in India to accelerate the startup process.
The company has partners like The Walt Disney Co., Barclays Plc, Comcast Corp. and Target Corp. for accelerator programmes.
