New Delhi [India], Feb 10 (ANI-BusinessWireIndia): Axilor Ventures today announced that it plans to accelerate its investments in early stage startups.
It is looking to double the intake of startups for its 100-day accelerator program, the applications for which are currently open.
In the last two years since inception Axilor has supported 30 startups through its accelerator program and invested in over 20 startups through its investment programs.
Axilor's fast growing portfolio now includes startups in AI, Enterprise, Fintech, Consumer Internet and Healthtech.
Talking about the outlook for startups, Kris Gopalakrishnan, Chairman of Axilor Ventures said, "We are getting ready for the second wave of startups.
A fast growing base of online consumers, an enabling public digital infrastructure, growing pool of founders with prior startup experience and increase in early stage seed capital are creating the conditions for this second wave." Commenting on how the accelerator program improves the odds of success of startups, GanapathyVenugopal, Cofounder and CEO of Axilor said, "In an uncertain funding environment, Axilor's accelerator program is a great opportunity for entrepreneurs to scale their startups and become investible quickly.
70 percent of the startups from the last batch have successfully moved to their next stage - half of them have already secured funding, one has been acquired and the others are in advanced stages of pilots.
The program enables them to accelerate progress, sign up customers and get funded, quickly." On the upcoming Summer batch, he said, "We have one of the most founder-friendly programs and are seeing great response to our call for applications." Axilor is looking to double the intake of startups to its upcoming Summer '17 accelerator batch.
The program is open to early stage startups focused on Artificial Intelligence, Enterprise, Fintech, Consumer Internet and Healthtech.
The program's uniqueness lies in a cohort-based structure with focused sector mentoring and market access.
With specific partnerships for each of these sectors, startups get a ready launch pad for their products, acquire early customers and can grow business quickly.