The India Internet Group (IIG), an India centric startup accelerator that invests in early stage digital start-ups has launched today. The firm’s founding partners and advisors bring vast experience in entrepreneurship, investing and management in the mobile/internet space in India and the U.S. The size of IIG fund is $2.5 million and with an average investment size of $50,000 to $250,000. Apart from providing funds, it would also provide resources to start-ups such as office space and legal advisors. The fund itself will be managed by entreprneur Anirudh Suri.
IIG‘s founding team is led by Anirudh Suri, an experienced entrepreneur who previously worked at McKinsey & Company. IIG’s advisors include Rajan Anandan, Sunjay Guleria, Gautam Gandhi, Vijay Chattha, and Anuradha Duggal, along with several other successful entrepreneurs, corporate executives and investors in India and the U.S.
The group including its partners have previously invested in several successful India-based startups (i.e., Exclusively.in, Ignighter, and The Wild East Group) that are led by entrepreneurs from the U.S. such as Sunjay Guleria, Adam Sachs, and Sid Shah.
In order to identify more entrepreneurs, IIG plans to get close to students at top business, engineering, and design schools, along with budding entrepreneurs currently working at professional services firms, large technology companies and startups across the U.S. Primarily, the group is trying to help budding entrepreneurs based in US for their transition to Indian burgeoning digital start-up ecosystem.
At present IIG is incubating startups such as EkSMS, a SMS- and Web-based personalized recommendation engine for mid- to high-end restaurants, bars and cafes.
In an official press release, Anirudh Suri said “We’re super excited to help bridge the entrepreneurial ecosystems of India and the U.S., and germinate the seeds for the inevitable Internet revolution in India. Despite significant challenges, there are so many positive macro factors in India today – rising incomes, increased access to information and choices, widespread adoption of technology – which make it an attractive candidate to be a hub for innovation and disruption. Several exciting, large internet-focused businesses with innovative business models will likely be built in India in the coming years and The India Internet Group wants to play an active part in this transformation by both investing in startups and incubating innovative startups such as EkSMS”.