Gurugram-based mentorship-driven incubator India Accelerator has invested $150K in six startups, shortlisted for its first batch.
Founded in 2017 by Ashish Bhatia and Abhay Chawla, India Accelerator is a member of Global Accelerator Network (GAN), a consortium of over 85 leading accelerators in the world.
“While there are many players in the industry who provide funding as the primary offering, we would like to create a more meaningful difference. Post the seed funding, IA would step into handhold these selected startups through the three-month intensive mentorship-driven program, and channelise the seed investment to get the bang for the buck for the investor,” said Mona Singh, the Chief Acceleration Officer of IA.
In the two days programme, over 150 applications were received from across the globe, wherein the final 15 shortlisted startups participated in the event to showcase their technology and product. All 15 shortlisted startups had 10 minutes to make their elevator pitch. After that, a series of long, serious meetings with relevant investors were set up for further grilling.
In the end, the six shortlisted startups (selected from about 150 early-stage companies) are about to receive around $20K to $25K each.
Below are the six chosen startups:
It is a Delhi-based online rental platform that works on an aggregator-based asset-light model and provides a convenient and affordable way to get customers’ goods on rent.
A launch pad for ecommerce projects, Square1’s open source framework provides merchants with a flexible shopping cart system and control over the look, content, and functionality of their online stores.
The startup tries to reduce bottlenecks associated with algorithmic trading by streamlining the process.
It is a platform that aims to create a gifting experience for users. It has developed a response-based engine that provides tailored recommendations to guests so that they can buy gifts which are more relevant and useful to the hosts.
The company is developing software that allows deaf people and speakers using American sign language (ASL) to be heard, by translating ASL to English. Its process involves building video recognition technology, based on recurrent convolutional neural networks, for translating video (of ASL speakers) into text.
It is a cab marketplace that provides bidding facility to compare and book one-way, round-trip cabs from hundreds of travel agencies providing quotes for the same.