GSF Accelerator to invest $1 million in start-ups
New Delhi: GSF Accelerator on Monday said it has opened the application process for the sixth iteration of its accelerator program that starts December and will invest $1 million in the start-ups it incubates.
The deadline to apply is 30 November. Only five start-ups will be taken in for the six-month-long program.
“Ideally we would like to invest $200,000 in each of the five start-ups we take in. We also plan to fund these companies when they raise follow-on capital later,” GSF Accelerator founder Rajesh Sawhney said.
GSF has a committee of entrepreneurs and investors that will pool in the capital and mentor the start-ups.
Besides Sawhney, the panel includes Hiro Mashita, founder of Singapore-based M&S Partners, Anand Chandrasekaran, former chief product officer at Snapdeal, Sumesh Menon, founder of Utopia Mobile, Dinesh Agarwal, founder of IndiaMart, Ashish Toshniwal, founder of Y Media Labs in San Francisco, Sri Peddu founder of Powerhouse Ventures, Murugavel Janakiraman Founder and CEO Matrimony.com and Boris Ryabov of Bright Capital.
The members are likely to take up board seats in the start-ups, Sawhney said.
GSF has mentored 45 start-ups in the past.
Sawhney, a serial entrepreneur and co-founder of InnerChef, founded GSF in 2012.