Startup Incubator Techstar to commence operations in India
US-based startup accelerator, Techstars has launched its operations in India to join a league of foreign players like Microsoft, Google and Oracle who have launched accelerators to capitalize on India’s growing startup ecosystem.
Techstars enters into a JV with ANSR
As part of its foray into India, Techstars has forged a joint venture with ANSR Consulting- which helps global companies build and manage in-house or external accelerators and similar startup-centric infrastructure. ANSR is backed by Infosys and Accel Partners, and through its innovation arm Kyron, also operates startup-led programmes for its corporate partners. Founded in 2016, Techstars operates globally (including NYC, Tel Aviv and London) and has accepted over 1000 early-stage startup ventures into its programme, and their portfolio companies have collectively raised over $ 3.8 billion.
Operations in multiple Indian locations
Techstars aims to open multiple centres across India in the coming years, with the first being launched in Bengaluru in 2018. The company will expect to gain access to India’s rapidly growing startup and entrepreneur network. The company will roll out different types of products in India. Techstars aims to bring its global portfolio startups and corporate partners to India and vice-versa. Usually, Techstars` 3-month accelerator programme offers selected startups $ 20,000 in exchange for 6 % common stock, and a $ 100000 convertible note upon acceptance. Techstars operates four divisions – a startup programme, mentorship-driven accelerator programme, corporate innovation partnerships and venture capital fund.