Start-up nurturing platform India Accelerator plans to broaden its start-up portfolio by over three-folds in 2021 with funding in round 100 such ventures.
The firm invests Rs 25 lakh in choose startups yearly then mentors them and connects them with different buyers as they mature, India Accelerator founder Ashish Bhatia informed PTI.
He mentioned the corporate is near launching SEBI-approved alternate funding funds each for class 1 angel fund and class 2 enterprise capital fund, which will likely be offering extra funding alternatives for startups.
“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,” Bhatia mentioned.
He mentioned India Accelerator (IA) had invested in round 30 startups in 2020.
According to TiE report, there are round 38,000 lively startups within the nation, out of which 26 are unicorns. The startup ecosystem in India had attracted USD 14.5 billion of funding in 2019.
Since Aug 2017, IA has chosen round 70 firms for acceleration. In 2020, IA has closed 27 funding transactions and round two-third of portfolio firms have raised their follow-on spherical of funding.
Bhatia mentioned that IA has partially exited from 5 startups with as much as six-fold return on investments.
He mentioned that through the COVID-19 pandemic the corporate has expanded footprint to pick startups from throughout India and is now planning to launch its programme abroad as properly in Dubai, Africa, Singapore, London and USA.
“COVID was of course unplanned disaster, a lot of startups sank. Nevertheless, it helped us move to remote areas. Earlier you heard about startups from NCR, Jaipur, Rajasthan, Gujrat, they only could come and apply. Now we are mentoring startups from Kerala, Chennai, West Bengal, we have become a pan India entity,” Bhatia mentioned.
