iAccelerator opens up applications for Batch 5: What do they offer?
IIM Ahmedabad’s business incubation centre, CIIE - Centre for Innovation Incubation and
Entrepreneurship has been instrumental in the Indian entrepreneurship space since 2007. The centre provides mentoring, infrastructure support, industry connect and investment to early stage startup. Every year, CIIE supports 30+ startups in renewable, social and ICT segment.
iAccelerator, CIIE’s flagship program for Information and Communication Technology (ICT)
startups, has opened up application for its 2013 batch. Last day to apply is 15th July.
One of the key differentiator of iAccelerator is that it is backed by an academic institute vs. private
entity. iAccelerator started with a goal of not only generating return on investment (RoI) but also
creating ecosystem for early stage startups in this domain. What it offers:
1. Selects up to 10 startups per batch : Since its inception in 2009, the program has run four
successful batches and supported 34 startups. iAccelerator is scaling up this year and will run one
batch every six month. The application will remain open all year long. (see track record)
2. Is best suited for early (prototype/MVP) stage startups : During the boot camp, startups get
mentoring in four key areas - business model refinement, produce strategy, UXUI design and
initial user acquisition.
3. Supports startups in Internet & Mobile domain : Such startups can grow significantly in short
span if receive right mentoring, connection, investment and infrastructure support.
4. Provides 5L+ in investment : The program provides 5L investment to selected startups
and also brings angel investors (who are also internet and mobile industry expert) to co-invest.
Angel investors together can invest upto 10L in a startup.
5. Is three-month long : The program is divided into three section of one month each.
The first month focuses on helping startups with refining business model, defining MVP and
incorporating the company. The second month focuses on other business related mentoring such
as customer discovery, UXUI design, user acquisition, sales & marketing etc. Lastly, the third
month is focused on investment mentoring, investor connect and demo day.
6. A mentorship-drive platform : iAccelerator has created a strong network of relevant mentors from IIMA Alumni, industry leaders, successful entrepreneurs, investors and functional experts. The network collectively help selected startups to achieve higher grounds.
7. Residential vs. Virtual : Selected startups move to the IIM-Ahmedabad campus for three
months to spend time with iAccelerator team, mentors, investors and peer startups.
8. IIM-Ahmedabad Week : Though relevant IIMA Alumni visit iAccelerator startups through out the program, one week is specifically dedicated to give startups an opportunity to interact with IIMA students and faculty.
9. Global Launchpad : Significant number of startups that come to iAccelerator are developing
product for the Global market. The program is in the process of establishing partnerships that
will provide its startups a global launchpad to promote their product and connect with relevant
people across geography.
Website to apply: iAccelerator