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ESpark-Viridian, a joint initiative of UK-based start-up accelerator Entrepreneurial Spark and India's leading venture player in the SME space -- Viridian Ventures announced beginning of its operations at Gujarat International Finance Tec-City (GIFT City).
This JV already has 10 start-ups operating from its accelerator centre at GIFT City, Gandhinagar.
"The acceleration programme for the start-ups is designed for upto 18 months, across multiple stages for early stage and growing ventures. The programme is comprehensive package including infrastructure facilities, acceleration programme, services, seed capital and mentoring," said Murali Hariharan, Global head (Venture Strategy), Viridian Group adding that each company will be charged Rs 50,000 per month.
ESpark Viridian aims to drive growth in the local SME economies by facilitating and supporting the advancement of Entrepreneuring.
"There are mainly two common challenges that most start-ups face anywhere in the world be it the UK or India or the US. That is access to finance and access to mentoring expert. Therefore our centers will provide the much-needed support to accelerate the start-ups," said Kenneth Whipp from Entrepreneurial-Spark, UK. Entrepreneurial-Spark has seven such centers in UK, while it plans to add 13 more in a period of next 18 months.
In India, the joint venture ESpark-Viridian plans to set up ten centers at different locations including metros in the next three-five years.
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