Rajesh Sawhney’s GSF Accelerator in collaboration with networking giant Cisco will be launching an accelerator programme for startups in the internet of things and cloud space. The programme will be focused on IoT and cloud ventures on both software and hardware platforms. The accelerator programme will select five startups for a 16 week session and will be based in Bangalore with a four-week visit to Silicon Valley in the US.
GSF will provide US$45,000 in funding to each of the selected startups and Additional mentorship through GSF mentor network and Cisco. Applications open from February 19 through March 10 and the programme starts from March 25, 2015. “Demo Days” will be held in Bangalore, Singapore and San Francisco.
GSF has previously incubated mobile first startups like mobile analytics platform Little Eye Labs, which was acquired by Facebook in January this year, alternate mobile wallet Pokkt, mobile advertising platform Silverpush, mobile app for doctors Daily Rounds, TV viewing and analytics app Zapr, home service marketplace Timesaverz, platform for field service agents Customize & mobile streaming and sharing app Airstream. Sawhney had earlier said that the company will discontinue its internet and generic startups focused accelerator, and will instead concentrate on launching more specialized mobile-internet focused accelerators.
Mobile-only accelerator: GSF in November last year said that it would be launching a mobile-only focused GSF M-Accelerator, in February this year, to mentor and fund 10 mobile-first startups in the country.
Cross-Border Accelerator program: GSF had launched a cross-border accelerator program in February last year. The program would select twelve tech startups, of which eight startups would be from India and the remaining four from its strategic alliances in Southeast Asia, Eastern Europe and Africa. This program follows a similar global itinerary to the M-Accelerator, although lasts only for 12 weeks.
Launched in September 2012, GSF Accelerator is run simultaneously in Delhi, Mumbai, Chennai and Bangalore, with each location hosting 4-5 startups per batch. The company has funded 33 startups through three batches since its launch, of which 2/3rd startups have apparently raised further investment and three of them have been acquired.