Tata Communications, a leading provider of a New World of Communications, announces its association with iAccelerator for the second consecutive year. A development programme for entrepreneurs and start-ups, iAccelerator is the flagship programme of the Centre for Innovation, Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad. Since its inception in 2009, the programme has supported 27 successful start-ups in the Internet and mobile space. Tata Communications continues to pledge its support to the programme by providing funding, mentorship and infrastructure, as part of its on-going initiative to nurture excellence and innovation in India.
This year, the participating eight start-ups will go through a three-month residential program, where experts from Tata Communications and the industry will mentor them on business, infrastructure and investment. Beyond mentorship, Tata Communications will also provide International lease line and video conferencing tools to help the start-ups achieve their business goals for the programme. Srinivasa Addepalli, Chief Strategy Officer, Tata Communications, says, “We’re very keen to help transform great ideas into great businesses and often in such an endeavour, mentorship is the key element. Tata Communications is committed to cultivating a spirit of excellence and innovation and creating a culture of investment that impacts the country’s competitiveness, globally. These start-ups are addressing the need of the hour based on the current trends we’re seeing. The investment and mentorship the start-ups receive through this programme will help these innovative new companies expand their scope of work, to build business skills and acquire market opportunities in the country. It’s a privilege for us to be a part of this programme.” The start-ups have been provided with work spaces, IT infrastructure, seed capital and mentorship from a team of industry experts. The iAccelerator programme has five angel investment partners including the CIIE. The start-ups are expected to showcase their final prototype / product to the angel investors on Demo Day. They can expect an investment of up to INR 10 lakhs for their project. Last year, they were given the chance to showcase their products to 36 investors.
Pranay Gupta, Joint CEO, Centre for Innovation, Incubation and Entrepreneurship (CIIE) says, “Supporting our finalists with the best infrastructure and expertise is imperative for the programme. This is the second year that Tata Communications has supported the iAccelerator programme and as one of the world’s leading providers of enterprise managed services, we are confident that our finalists will have access to world class connectivity, technology and invaluable mentorship to strengthen their projects. This is not just about the investment but also the ability to collaborate with one of the technology leaders in the industry.”