Spark10, a London-based tech start-up accelerator, has asked for applications for its second cohort. The accelerator, located at Gachibowli here, will put in Rs 10 lakh as seed funding by picking 8 per cent equity in each start-up.
“Selected start-ups will also get other benefits from Spark10 eco-system partners. The acceleration programme lasts for 13 weeks. The founders need to validate their business strategies, build and scale their operations before the final showcase in front of investors on Demo Day,” Atal Malviya, founder and Chief Executive Officer of Spark10, told BusinessLine .
At the end of the cohort, the start-ups will showcase their products and services to investors on Demo Day.
Atal founded the accelerator exclusively for Indian start-ups in association with Jon Bradford, Director of the John Bradfield Centre (the UK) and Paul Smith, Head of Programmes at Dubai Future Accelerators and Co-founder Ignite100, the UK.
“The methodology and process are defined and developed in conjunction with the best practices and experiences of accelerators that have proven strategies over the past half decade,” Atal said.
Spark10 targets to build a network of over 500 mentors, investors, experts and achievers, willing to commit their time and resources to help the start-ups and entrepreneurs grow fast.
In the maiden cohort started early this year, nine start-ups were picked from over 500 applications. The list included Brisky, BeHungry, CarZip, Daddy’s Pocket, FeltSo, Fliona, Oh’Look and Ornativa. They presented their ideas on Demo Day held on July 31.