Bangalore, Feb.20, 2015: India-based GSF Accelerator has launched an Accelerator program in the Internet of Things (IoT) and Cloud. For this, it is collaborating with Cisco through a cross-functional and multi-country effort.
The accelerator said on its Website that Cisco will tap into its product and engineering presence in India as well as its global teams, to support and mentor entrepreneurs in India focused on IoT and Cloud enabled opportunities.
Functioning as a “super-accelerator”, the new GSF IoT+Cloud accelerator programme is structured like a Hackathon. Products will pivot several times as teams will be made to undergo intense Q&A sessions with mentors and entrepreneurs in residence. The result of this accelerator will be an ecosystem created by the startups for the startups: “a challenging, risk-taking product focused teams, innovating in areas of IoT and Cloud computing.”
Rajesh is the founder of GSF which is India’s multi-city tech accelerator for Indian startups. GSF provides tech startups mentorship from well-known digital founders, initial capital and global exposure. Rajesh has already made over 20 investments as an active and engaged angel investor, which include Viki (acquired by Rakutan for USD 225M), Little Eye Labs (acquired by Facebook), Mobstac, Pokkt, Silverpush, Hackerearth, Browntape, Overcart, Flinto and Timesaverz.
For the new IoT accelerator programme, both hardware and software platforms will be considered.
Other highlights of the IoT accelerator programme:
- A maximum of 5 startups will be shortlisted for an intense 16 weeks program
- Accelerator will be housed in Bangalore with a 4 weeks visit to the Silicon Valley, US
- GSF and Cisco will provide access to High Caliber Mentors in India, US and Asia
- GSF and Cisco will provide exposure to a Global Network of enterprises and early customers to the selected startups
Applications are open and will remain so till March 1. The program will commence in the first week of March, 2015. The four-month program will start in March, 2015. GSF will provide USD 45-50K funding to each of the selected teams. GSF will hold Demo Days in Bangalore, Singapore and SF
GSF IOT+Cloud invests US $45-$50k at 8-9 percent equity into the startups inducted into the Global Accelerator program. GSF also does follow-on rounds of up to US $500,000 into a few select startups after the program.
Image Credit: GSF
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