India Accelerator to invest $15-20M via Dubai-based incubator
The announcement comes a month after the launch of its iAccel Gulf Business Incubator in Dubai.
Indian seed accelerator programme, India Accelerator, plans to invest around $15-20 million by the end of 2023 through its recently-launched iAccel Gulf Business Incubator (iAccel GBI).
Powered by Global Accelerator Network, India Accelerator launched iAccel GBI in Dubai in March 2023 under Dubai SME, an agency of the Department of Economy and Tourism, Dubai. The aim is to promote startups in healthtech, fintech, artificial intelligence, agritech, and D2C among others, said a report by The Economic Times.
Over a period of four months, these startups will get opportunities to grow their ventures through networking and mentorship. Along with this, it plans to help more than 20 Indian startups expand to Dubai in the next 12 to 18 months.
IA has about 200 startups in its portfolio, each receiving about $100,000 to a million dollars per seed round. In 2022, the total investments made were estimated to be around $15 million to $18 million. It aims to incubate about 100 startups every year, as per news reports.
IA has plans to expand in Saudi Arabia and Mauritius in the near future.
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Edited by Megha Reddy