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Two US entities and an Indian Accelerator have formed a consortium to incubate and fund a start-up accelerator, titled Naya BootUP.
The global launch pad, being set up with the support of Telangana Government, helps start-ups receive advice from global experts, venture capital funds and advisors.
The announcement was made on the sidelines of the Global Entreprenuership Summit here on Thursday.
Naya Ventures, a US-based venture capital fund focusing on Artificial Intelligence and Internet of Things, BootUP Ventures, a Silicon Valley Accelerator and co-working space provider, and Z Nation Lab, an Indian start-up accelerator, are the consortium members.
Startups graduating from the final bootcamp to be held in the USA will receive a seed funding of up to $1,00,000.
“Startups applying for the acceleration programme will be first selected for a week-long bootcamp in India. These start-ups will be evaluated by experts from India and Silicon Valley based on their products, their go-to-market strategy and ability to scale up globally,” Dayakar Puskoor, General Partner at NayaVentures, has said.
As many as 15 start-ups would be funneled for a bootcamp to be held in the Silicon Valley.
Besides getting mentorship, they will get a focussed advice from entrepreneurs, venture capitalists, and advisors from NayaVentures.
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