US-promoted Nexus Startup Hub to replicate model in more cities

| Updated on: Dec 16, 2019

Erik Azulay, Executive Director, ACIR Foundation, addressing the Defense Start-up conference in Hyderabad on Monday | Photo Credit: Nagara Gopal

Our Bureau After supporting about 90 start-ups, the US government-promoted Nexus Startup Hub is planning to expand its activities to other parts of the country. The Delhi-based incubator, which was founded two years ago, has completed eight cohorts of three-months each.

“We are in talks, and a couple of locations, we are considering,” Erik Azulay, Executive Director of ACIR Foundation, has said.

“We are getting ready for the ninth cohort in January 2020. We don’t focus on any particular vertical,” he said.

He said the incubator is considering replicating its activities in some other cities. It also would like to organise sessions on managing incubators.

Help to access fund

ACIR Foundation and the US Embassy in New Delhi are jointly running the incubation hub at the American Centre. Though it won’t organise any ‘Pitch Day’ at the end of the cohort, it helps the start-ups to get access to funds, if needed.

Erik is in the city in connection with a two-day workshop for Defense Startups inaugurated at the T-Hub on Monday.

He said the start-ups that graduated from Nexus Hub have raised an aggregate $5.6 million.

For the Hyderabad workshop, about 20 start-ups were selected for the two-day session. Mentors and experts from the industry would help them become more attractive to the defence industry, partners and investors.

Published on December 16, 2019
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