Techstars chooses 10 companies for accelerator programme

As many as 10 companies have been chosen for the Techstars Bangalore Accelerator which was kicked off here this week.

An accelerator is a programme that gives developing companies access to mentorship, investors and other support that help them become stable, self-sufficient businesses.

The Techstars Bangalore Accelerator is part of the first Techstars mentorship-driven accelerator to be held in India and it would culminate on May 2 with a demo day.

''Ten outstanding companies have been chosen to be part of the inaugural class, following a rigorous selection process that included meetings with hundreds of entrepreneurs from 30 countries around the world,'' Techstars said in a press release.

 

The companies that are part of the programme areAmbee,Dcoder,Instacar, Leucine, Liquid Diamonds,Nira,oDoc,Redwing,Rephrase,andUnifize, the release said.

The breadth and capabilities of these companies that come from sectors including drone delivery logistics, pharma tech, and environmental data speaks volumes about the potential of rapidly growing emerging markets startup ecosystems such as India, and their ability to address issues which affect billions of people around the world,said managing director of Techstars Bangalore Accelerator Raj Newal in a statement.

Techstars said it would provide companies with complete access to the tools they need to succeed -- qualified advice, mentorship from professionals, global connections to leading corporates as well as capital.

Techstars would invest USD $1,20,000 in each of the 10 chosen teams, the same terms offered to startups which are accepted into any of its other accelerator programmes.

Techstars is the worldwide network that helps entrepreneurs succeed. Its founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies, the release said.