India’s first European startup accelerator, Spark10, is set to launch its operations at the campus of Engineering Staff College of India (ESCI), Gachibowli – Hitech City ,Hyderabad.
Spark10 was founded by Atal Malviya, Jon Bradford, Paul Smith, Vijay Ketan Mitra, L.N. Parmi, Subba Raju Pericherla, Rajesh Gummadapu and Dr. Suresh Kamireddy, and, is backed by strongest international mentors and angel networks, a unique group of entrepreneurs, VCs and Founders.
Jon Bradford, who is known as “God Father” of Startup Accelerators Europe will visit Hyderabad in Jan 2016 to formally launch the application process at HICC, Novotel on 1st Feb 2016.
Spark10’s global mentor network of 500+ mentors includes some of the very renowned names like Jonathan Quigley, Director of a Swiss nonprofit foundation , Boehringer Ingelheim, Director of CHC (Consumer Health Care) at , a global group of companies in Japan and founder CEO Sleepout UK.
Speaking on the development, Atal Malviya, founding member of Spark10 said, “Our founding team has founded several European accelerators including Ignite100, TechStars, Eleven Accelerator etc and supported global startups so far.Although there are several startup incubators in the city but there is lack of global exposure to support the ever increasing startups community in the city and produce next generation startups like Dropbox or Uber.
Spark10 invite startups with minimum viable product in the domains of IOT (Internet of Things), mobile, internet, smart technologies, analytics, machine learning etc.
Over 500 successful entrepreneurs and mentors globally will be seen during the 13 Week Accelerator Program helping Startups to rise. The participating startups will go through initial 4 Stage Selection Process followed by 2 interview rounds. In the end more than 25 investors will shortlist 10 startups who will be offered an investment worth of Rs 20 Lakhs against 8% equity in the selected startups.Overall, Spark10 aims to invest $100 Mn across several startups over next 2 years. In addition to that, it is also extending support of international mentors, subject matter experts, angel investors, VCs as well as alumni network.
The reason for choosing Hyderabad is due to the state’s emerging startup ecosystem. With India’s largest incubator T-Hub launched recently, Hyderabad has been positioned as the startup capital of India. With supportive government, Hyderabad is already home to over 1000 startups. Register Now