500Startups, one of the word’s largest accelerators , has announced its new international batch, which has 28 start-ups from about 15 countries in the world, with the highest number from India. About 71% of the new batch consists of startups from countries such as Jordan, Brazil, China, Israel, Mexico and Japan.
While one startup made it from each of the countries, five companies from India are participating in the batch. The start-ups will get a committed funding of $50,000 each and a chance to meet investors across the silicon valley and New York. “There is plenty of raw talent and opportunity in India. It’s just less experience, which can be supplemented by good mentorship,” says Pankaj Jain, Venture Partner at 500Startups.
The startups will be based in Mountain View for a period of four months and will get to interact with people from Yahoo, Google, Microsoft, which are just a mile away from the startups camp. The four-month programme is structured into three parts – data, design and distribution , with demo days in San Francisco and New York in July.
“Often, Silicon Valley and Wall Street investors are not comfortable and will not necessarily come to know of start-ups situated 8,000 miles away. We are trying to bridge this gap, by taking them on a roadshow before top investors,” adds Jain. One such start-up is Mumbai-based Tushky founded by IITian Talvinder Singh , and serial entrepreneur Kranti Aggarwal. The company was founded when the two friends found themselves struggling on a weekend in 2011 to do rafting around Mumbai, and could not find a genuine experience seller.
The start-up, which offers experiential trips and products on its website, claims to have generated $100,000 in revenue in last nine months. It offers trips such as learn how to make chocolates, or ride a hot air balloon, learn fencing, for a price of course. Another startup Credii offers a cloud-based platform for business software selection.
Whether it’s a collaborative word processor, an ERP software, or a file backup software, Credii aims to provide businesses select software that best matches their budget. “Besides the money and mentorship, we will get to interact with a lot of startups in the same domain, and learn from their failures and challenges,” says Aggarwal of Tushky.