An accelerator programme for high-potential frontier-tech startups has been launched by venture capital funds Endiya Partners and Applied Ventures.
Called Frontier-Tech Ignite (X), it is their first-ever curated accelerator programme and for startups in the SaaS/enterprise software; semiconductor/EDA; AI/ML/blockchain; IOT/5G/sensors and cybersecurity domains.
Five to be selected
Five startups are to be selected, over a two-stage screening process, for the programme.
The shortlisted startups are expected to have a working minimum viable product (MVP) and initial customer traction in the market at the time of registering for the programme, a release said.
Applications for the programme have opened and April 15 is the deadline for submission.
Mentorship sessions
The five startups will have access to dedicated mentorship sessions with Endiya and Applied Ventures along with potential access to their network and portfolio companies. In addition, the selected start-ups will have the opportunity to demo/pitch for investments with Endiya, Applied Ventures and other investors in the ecosystem.
‘Poised to grow further’
“The Indian Technology start-up ecosystem, the third largest globally, is backed by strong skills around deep science and tech and is poised to advance and grow further. The time for the frontier tech wave is right here and we are committed to helping the best ideas gain speed,” Endiya Partners managing director Sateesh Andra said.
An early-stage venture capital fund, Endiya Partners invests in IP-led Indian product start-ups that are globally relevant.
Global head of Applied Ventures Anand Kamannavar said Applied Ventures aims to use its expertise in materials engineering to work with the startups.
Applied Ventures is the venture capital arm of Applied Materials and invests in innovative companies globally. It has invested more than $300M in over 90 companies in 16 countries including India.
