India Accelerator's iAngels to invest Rs 100 crore in 50 startups

India Accelerator's iAngels has launched a Rs 100 crore fund to invest in 50 startups in the southern region of India in FY24.

As part of the development, iAngels plans to partner with Startup TN, IIT-M, KSUM, TiE Chennai & NSCREL to strengthen and build the local startup ecosystem in Chennai and supplement it with global outreach.

Through iAngels, it has established 7 startup chapters across geographies, including Delhi/NCR, Bangalore, Mumbai, Ahmadabad US, UK and UAE, and is expanding domestically and internationally with an already functional centre in Dubai.

The selected startups will have to go through a rigorous selection process, which will be leveraged for the Chennai startups as well, maintaining an acceptance rate of only 4-5%. The selection process consists of multiple stages, each carefully designed to assess the potential of aspiring startups.

The successful participants will start a four-month business growth and mentoring programme to help grow the business. 

Mona Singh, Co-founder of India Accelerator, said, “Tamil Nadu government has introduced multiple policies aimed to foster a culture of innovation and entrepreneurship, providing various incentives and support for start-ups. With the Chennai Chapter, we aim to leverage the advantages offered by the Tamil Nadu start-up ecosystem and contribute to the growth of the region's start-up community.” 

India Accelerator is the first GAN partnered accelerator in India, endeavouring to provide 360-degrees cross-functional mentorship, business growth and funding to entrepreneurs.

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