An idea remains an idea unless actions take place and reality follows suit. Most great ideas remain dormant because people don’t have the guidance, funding and other necessary resources for business growth. And for those who take action, most are unprepared and thus find themselves spending their valuable time and money on ideas and dreams that go astray.
This is exactly what early-stage startups with great ideas and potential face but lack the right mentorship and support.
A research report by YourStory has found that India has about 66,359 startups as of March 2022. With two-three tech startups being founded every day, entrepreneurs are looking for strategic partnerships, the right mentorship, and growth opportunities.
To realise the disruptive potential of startups and help them achieve sustainable growth, India Accelerator (India’s first GAN-partnered accelerator), endeavouring to provide 360-degree cross-functional mentorship, and funding to entrepreneurs is partnering with ICICI Bank and Infosys Finacle to launch a joint accelerator program called the i3 Launchpad — a curated accelerator program for early-stage tech startups in India.
“Digital initiatives have always been a part of ICICI Bank’s philosophy since its inception. We continue to look for opportunities to collaborate with startups to foster innovation and add value to all our stakeholders. It will be a delight to witness startups with innovative ideas positively impacting the startup ecosystem through the i3 Launchpad programme” shares Balaji V.V, Chief Technology Officer, ICICI Bank.
Who can participate?
Sectors in focus for the first cohort-
01. Fintech
02. Enterprise Tech and SaaS
03. Proptech
04. Wealthtech
05. Insurtech
06.Sustainability and Greentech
“Lack of guidance is one of the primary reasons why so many startups fail or are not able to sustain for a longer period. This is where India Accelerator comes into play. Our award-winning startup accelerator has supported over 150+ startups. Joining hands with ICICI Bank and Infosys Finacle will further add to our expertise. They have strong market knowledge and access to help us create a great program for startup growth,” says Deepak Nagpal, Managing Partner, India Accelerator.
What can startups look forward to?
Each accelerator program features a cohort of 12-18 top startups. Founders can accelerate growth with a mix of remote and in-person, group learning sessions.
- Seed funding and opportunities for follow-on financial investment
- Tailored mentorship and advice from industry leaders
- Guidance on being investor ready: fine-tuning and structuring of the pitch
- Better understanding of how to acquire new revenue streams
- Strategic partnerships for market access and growth
- Perks such as AWS credits, Soho, Sendgrid, Google Cloud credits, etc. of up to Rs 1 million
The team at India Accelerator understands what it takes to build something from scratch. Deepak explains that the India Accelerator team brings a strong understanding and working experience of both the corporate world and startup ecosystem to create lasting mutual benefits. “The i3 Launchpad program leverages experience and strengths of India Accelerator, ICICI Bank and Infosys Finacle in a structured manner to create meaningful & high growth startups,” he adds.
The extensive mentor network of India Accelerator and the expertise and partner network of ICICI Bank and Infosys Finacle would be leveraged to provide insights and guidance for selected startups across functions, industries, and business model.
“India has taken global leadership in fintech innovation. Yet, there is so much more to achieve to unlock the country’s full potential. As the preferred technology partner to over 60 percent of Indian financial institutions, we are constantly working with industry participants to Inspire Better Banking. This program is yet another important initiative in this pursuit. The collaboration will aim to help fintech startups fast-track their growth and impact,” shares Sajit Vijayakumar, SVP and COO, Infosys Finacle.
Selection criteria for i3 Launchpad
The objective of the i3 Launchpad is to support a community of entrepreneurs who are on a mission to create brands that have global impact.
India Accelerator is looking for high-calibre founders with enthusiastic teams. Persistence, and the ability to learn, apart from being open to coaching and mentoring are crucial. The business idea should have significant potential for value generation. The startup needs to have traction and the founding team should be able to clearly explain the path and journey forward.
Learn more about the i3 Launchpad program by India Accelerator!
