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.
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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.”