GSF, one of India’s leading accelerator programs for budding startups, has recently unveiled its fifth iteration in the form of the GSF-5 accelerator program. The initiative will seek to take some of the most innovative companies under its wing for further grooming.
The accelerator is one of the best in the country and has produced a horde of startups. GSF has accelerated almost 40 startups in Delhi, Mumbai, and Bangalore until now out of which over 80% have gone on to raise angel funding.
Some of the rather well know startups that have been nurtured by GSF include the likes of LittleEye Labs (acquired by Facebook in 2014), SilverPush (funded by IDG ventures, 500 startups), Zapr (funded byFlipkart and Svaan), Overcart (funded by JSW and Omidyar), Dailyrounds (funded by Accel), Pluss App (funded by IDG and others), DocsApp (funded by Rebright and others), Gamezop (funded by Kwan and others) etc.
Speaking on the topic, Rajesh Sawhney — founder of GSF Accelerator and co-founder of InnerChef, said
We would accept only 5 startups in this batch. Fundamental ethos of GSF has always been for the founders by the founders. Each startup willbe assigned a chief mentor from amongst the five founders that have come together. We have also partneredwith Hiro Mashita, M&S Partners of Japan who will open doors to theJapanese tech and investor ecosystem for the selected startups.
He also added that this year’s experience will be very intimate and intense, which is why the accelerator will be taking up only 5 startups. Meanwhile, the application process has been opened and will remain so until the 31st of July. The 5 startups chosen for the program be spending two months in India to refine their products — and yes, having at least an initial prototype is one of the prequisite for applying.
The startups will be asked to relocate to the NCR reigon for the duration of the accelerator program with all sorts of assistance from the GSF team. At the end of the program, GSF is quite likely to provide significant financial assistance in form of first round and seed round investments.
GSF Accelerator usually invests around $50k in return for 7-8% equity into the startups inducted into the Accelerator program. GSF may also participate in seed rounds for a few select startups after the conclusion of the program.
The chosen 5 will also be taken to San Francisco and Tokyo for a hands-on experience of the global scenario and will be brought together with some of the leading tech investors of our time. The trip will also grant them the opportunity to accentuate and streamline their products in preparation of a global launch.
The GSF 5.0 investment team includes biggies like Rajesh Sawhney, Hiro Mashita, M&SPartners, Anand Chandrasekaran (ex-CPO of Snapdeal), Sumesh Menon (founderof Utopia Mobile and Woo), Dinesh Agarwal (founder of Indiamart), and Ashish Toshniwal (founder of Y Media Labs, San Francisco). As such, the startups that are chosen stand to benefit in financial terms as well as relevant mentoring and connections.
You can know more about the topic and apply for the accelerator program — assuming that you fulfil the prequisites — by clicking right here. You should hurry though, as the last date for submission is 31st July with the new batch commencing from August.