Spark10, a European startup accelerator, is gearing up to invest $100 million in Indian startups over the next two years. Initially, it will support 10 startups in the city with investments and mentoring before going to other cities. Spark10 is backed by one of the strongest international mentors and angel networks, a unique group of entrepreneurs, VCs and Founders.
Spark10’s founding Advisors include ‘God Father’ of Startup Accelerator -Jon Bradford and MD of Ignite 100 Accelerator UK, Paul Smith. Its global mentor network of 500+ mentors includes Director of a Swiss nonprofit foundation, Jonathan Quigley, World Economic Forum, Switzerland; Director of CHC (Consumer Health Care) at BoehringerIngelheim, a global group of companies in Japan and Founder CEO Sleepout UK.
Spark10 invites startups with Minimum viable product in the domains of IOT (Internet of Things), mobile, internet, smart technologies, analytics, machine learning etc. The Accelerator aims to provide seed-funding support INR 20 lakhs in each of the 10 selected startups and providing them workspace for 13 weeks programme. Overall Spark10 aims to invest $100million across several startups over next two years. Also extending support of International mentors, Subject matter experts, angel investors, VCs as well as alumni network.
“Spark10 chose Hyderabad as it is already home to over 1,000 start-ups. There are several start-up incubators in the city. However, there is lack of accelerators with global exposure to support the ever-increasing start-up community here and produce the next-generation Dropbox and Ubers,” Malviya added.