August 2009


I was present at the demo day for the 1st batch of 10 companies graduating from the iAccelerator program y’day on Aug 29th.  I was impressed by the quality of the teams & their ideas. I thought that they were really very good.

Hats off to both CIIE & Upstart.in for pulling it off.

They were a lot of positives and obviously since they were doing it for the 1st time this will surely act as a learning as well. The companies can be made to think more holistically (The Big picture thinking), they can create the Mentors team or Advisory team, create board of Directors , create market traction, focus on Sales & Marketing, etc.,

Out of the 8 cos that was showcased couple of them are interesting and could go the whole distance and become great companies to watch for in the near future. They need to execute their plans & strategies well.

Overall it was a good beginning for iAccelerator and hopefully with time they (the cos/ the output) will get better and better.

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iAccelerator is an initiative by Center for Innovation Incubation and Entrepreneurship [CIIE] at IIM Ahmedabad.

iAccelerator works with brilliant entrepreneurs to establish well run, technically excellent, profitable technology companies in India. They use their experience setting up companies, their business network and money to ensure that companies working with them are well formed and have access to the people and information they need to be successful.

They invest upto 5 Lakh in participating companies, and require the founding teams to live and work near their location in Bangalore from December 1, 2009 through April 1, 2010. They typically ask for 5 – 10% of equity in return for their investment of time and money.

Committed individuals with strong technology skills and clear ideas about how to use the internet or mobile technology to solve people’s problems, earn money and make the world a better place are encouraged to apply.

The 2009 Winter Edition shall be run jointly by CIIE and UpStart.in, a micro-venture fund based in Silicon Valley.

The application form can be found at http://iaccelerator.org/applicationform/

iAcceleration Winter Edition Dates:

Last date to Apply – Sept 7th, 2009

Final Shortlist announcement – Oct 1st, 2009

In Person Interview in Bangalore – Oct 10th/11th, 2009

Acceptance notofications sent – Nov 1st, 2009

For more info, please feel free to get in touch with info@iaccelerator.org

One of my portfolio (Mentee) companies which is in the mobile space has executed a contract in the middle east and is in the midst of advanced discussions with various potential customers in multiple sectors. They are just completed their 1st year of operations. They have been profitable from day one and are poised to enter the 2nd year of operations in a positive frame of mind. They have been getting huge enquiries for their product.

Another company in the Cleantech space has bagged a runner-up prize in the recently held business plan competition in one of the prestigious B schools in town.

Hopefully there would be more info to share in the near future.