TLabs Expands its Accelerator to Bangalore; Will Offer USD 50K to Each Startup


Startup accelerator TLabs, an initiative of Times Internet, is establishing a presence in Bangalore to offer a better amount of initial capital for teams and startups at early stage.

Over the last 3 years, it has had 6 batches and 36 total startups and more than 60 percent of start-ups that have graduated raised on average USD 450,000 in follow-on funding.

Starting in January 2015, it will offer its accelerator program out of Delhi / NCR and Bangalore.

In addition to the expansion, TLabs has also increased the amount of capital it will invest in each startup to USD 50000 to provide a longer validation and growth runway during early stages of a startup.

Also Read: On Nasscom 10000 Startups with Rajat Tandon

This also means that competition for the startups to enter into the program will also increase as the valuation offered to each startup will range from INR 3.5 crore – 4 crore. The accelerator will lead the first round of investment in the funding process.

CEO of Times Internet Satyan Gajwani said “We started TLabs to help foster a stronger entrepreneurship ecosystem. In the last 3 years, we’ve helped 36 new companies get formed and chase their dream. As we look forward, we want to play a larger part in creating “Digital India”, and we want to enable more entrepreneurs to drive our digital revolution.”

Image Source: Briefmine

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