Kyron Global Accelerator and Kyron University announced yesterday its partnership with Massachusetts Institute of Technology (MIT) to launch Global Start-up Lab (GSL). MIT Global Start-up Labs is a multidisciplinary group of MISTI (MIT International Science and Technology Initiatives) that promotes development in emerging regions by cultivating young technology entrepreneurs.
This year MIT GSL India will work with young Indian students on creative and interdisciplinary areas on design, web, and hardware. So far, it has conducted 43 courses in 15 countries and has mentored over 2000 participants with more than 76% of the participants planning to continue the start-up founded during the course.
Global Start-up Labs 2014 will include a product development workshop, which is a 6-week accelerator program starting from June 17th to July 25th 2014. The program is intended for students and entrepreneurs with an interest in innovation and technology. There is a special focus on software and hardware platforms for mobile and internet applications. The participants in the accelerator program belong to various educational backgrounds that include; Candidates with degrees in technology and/or management and experience in technology development. Undergraduate engineers in 3rd or 4th year, MBA students and aspiring technology entrepreneurs were also encouraged to apply.
Out of 450+ applications received for the program, 28 candidates are selected to join. This program will focus on ideation, market research, pitching, and appropriate technology platforms, culminating with a pitch and prototype competition. The technical and business curriculum will be taught by alumni and current student instructors from MIT’s business and engineering schools.
“There is a gap in entrepreneurship ecosystem in India. Early stage accelerators and VC firms address the mentoring needs of those who have some traction but there are ton of budding entrepreneurs who need mentoring on market oriented product development, to be good enough to be considered by the early stage accelerators. MIT GSL precisely addresses this gap,” said Kiran Ratnapu, Entrepreneurial Lead at MIT Global Start-up Labs India.
The program instructors will help form teams in the first week of the program. Each team will be required to form an idea utilizing mobile and web technologies, produce a business plan for this product, prototype the product, and then demo the product at the end of the program. The course culminates with a pitch competition and Demo Day, where regional mentors and funders have the opportunity to invest in the course start-ups.
After the successful completion of the program, the participants would be awarded certificate from MIT.
Kyron University is a strategic initiative which will partner with global leaders, academic, government and industry, to introduce entrepreneurship focused educational programs to the startup community in India through partnerships, workshops and events. Kyron University, operated under the aegis of Kyron Global Accelerator aims to provide best-in-class entrepreneurial education to the startup community in India through strategic partnerships, workshops and events.
Varun Backliwal, Outreach and Partnership, Kyron Global Accelerator said, “Our partnership with MIT GSL offers young entrepreneurs a tremendous opportunity to learn from the world’s leading academic institution and through our Kyron University initiative, we hope to partner with similar global leaders to introduce entrepreneurship focused educational programs to the start-up community in India.”