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Rajya Sabha MP and Essel Group Chairman Subhash Chandra launched the Subhash Chandra Foundation earlier this year to commemorate 90 years of Essel Group and has pledged Rs 5,000 crore of his family wealth towards philanthropic initiatives of the foundation.
The foundation today announced the launch of its first-of-its kind initiative - the ‘Esselerator’ programme to identify and mentor entrepreneurs. The programme has been launched in association with the Essel Group and will be powered by TiE Mumbai, a non-profit global community.
The programme has been launched to identify and mentor entrepreneurs across start-ups in the fields of media and entertainment, mediatech and eduTech.
Commenting on the launch, Chandra, Chairman, Essel Group said, “As we move ahead in this journey, our aim is to carry forward the entrepreneurial legacy of the group and with this objective in mind, we had launched the Subhash Chandra Foundation earlier this year to help budding entrepreneurs and educationists, by not just providing them funds but by creating a chain model. Under the aegis of the Subhash Chandra Foundation and in partnership with TiE Mumbai, we are proud to launch our initiative - the ‘Esselerator’ programme which promises to identify and groom the next generation of thinkers and innovators, who through their unique business models will play a significant role in building the capacity of the nation.”
Anand Desai, President - TiE Mumbai & Managing Partner, DSK Legal, said “The Media & Entertainment space is highly fragmented and entrepreneurs face a number of challenges. This is a positive step towards nurturing the start-up ecosystem by getting corporates involved. The Subhash Chandra Foundation along with Essel Group's focus on MediaTech and EduTech is the need of the hour. Through this partnership with TiE, the Esselerator programe will allow us to create a more mature ecosystem."
With the expertise of the Essel Group and the vision of the Subhash Chandra Foundation, the programme aims to give the founding teams access to Essel resources, networks and platforms to test and grow their start-ups into viable businesses.
The selected teams will be mentored by the eminent leadership of Essel Group including Subhash Chandra, the Chief Mentor, Punit Goenka, MD & CEO, ZEEL and Amit Goenka, CEO – International Broadcast Business, ZEEL, and senior management of Essel Group, among others.
The programme will allow early and growth stage start-ups to apply to the programme and go through a selection process through a panel of experts. Start-ups involved in IoT, Artificial Intelligence (AI) and Machine Learning (ML), Cognitive Computing, Virtual/ Augmented Reality and Blockchain, and willing to look at business opportunities in the media & entertainment or education space, can also apply. The first round of applicants will be shortlisted through their online applications.
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