Rajesh Sawhney’s GSF accelerator has launched a cross-border accelerator program that is starting in mid-April this year. The accelerator has tied-up with AngelList which will be managing the application process for this program.
GSF says it will be selecting twelve tech startups for this program, of which eight startups will be from India and the remaining four will be from its strategic alliances in South East Asia, Eastern Europe and Africa. These startups will be mentored over a period of twelve weeks which will begin in India and end in Silicon Valley.
GSF says the program will start in India where the startups will spend four weeks with GSF mentors and advisors in Delhi & Bangalore. This will be followed by two weeks in Singapore’s The Hub, two weeks in east coast of North America and final four weeks in Silicon Valley. It will conclude with four demo days to investors and entrepreneurs, one each in India, Singapore, San Francisco and a (yet-to-be-decided) North American city on the east coast.
A TechCrunch report says each startup will also be receiving increased seed funding of $40,000-$60,000 as part of this program. The accelerator previously offered a seed funding of $30,000 for each startup in its previous two batches. Interested startups can currently apply through GSF’s accelerator application form on AngelList.
Launched in September 2012, GSF Accelerator is backed by 20 Indian founders and five venture funds globally. The program is run simultaneously in Delhi, Mumbai, Chennai and Bangalore, with each location hosting 4-5 startups per batch.
The company has graduated 24 startups through two batches since its launch, of which nine startups have apparently raised further investment and two of them have been acquired. IndiaMART’s subsidiary Biztradeshows had acquired local event discovery app PlayCez in August 2013 while Facebook had acquired mobile app performance monitoring company Little Eye Labs last month.