BLS International Services Ltd, one of the world's largest specialist service providers for outsourcing of visa and consular services, on Tuesday kick-started BLS Accelerator -- a start-up nurturing programme to help innovative business attain the right mentoring and scale.
Delhi-based BLS International plans to invest up to Rs 5 crore in the programme by the end of this year.
BLS Accelerator will support early stage start-ups with up to Rs 50 lakh seed funding, along with mentoring in areas such as technology, upgradation of citizen services, product ideation and development, and go-to-market strategy.
"Our decision to start BLS Accelerator is a way to support the future Indian business leaders on their initial journey and scale both in India and globally," said Shikhar, Joint Managing Director, BLS International.
For start-ups at growth stage, BLS Accelerator will not only be an investor but also facilitate market exposure to more than 60 countries where BLS International currently operates, the company said in a statement.
The first batch, part of the three-month programme, will have five start-ups based on their value proposition, market traction and team credentials.
In the next two-three years, BLS Accelerator aims to target investment in more than 100 promising global and Indian start-ups.
"The vision of BLS Accelerator is to support the Indian businesses leverage BLS International's global and Indian presence and experience and develop global scale and competence," said Riya Aggarwal, Chief Executive Officer, BLS Accelerator.
--IANS
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