An acceleration program has been introduced by IIT-Hyderabad (Indian Institution of Information Technology) in order to motivate the social cloud startups and young entrepreneurs. The three-month long accelerator will be run by IIT-Hyderabad in partnership with Surge Impact Foundation.
This initiative will help the startup and budding entrepreneurs to work on the problem which they may face while setting up their product. The program will also provide seed funding for the startups which lays from Rs 50,000 to 1 Lakh.
Recently, IIIT-Hyderabad has also started a Seed funding network which will allow the fresh startup to explore the industry.
IIT-Hyderabad has released a statement quoting: “The program will give entrepreneurs an overview of the important aspects of building and running a social enterprise. The start-ups will be guided through leadership, business management, peer-to-peer knowledge sharing and technology implementation for social good.”
Indian has more than 19,000 technology-enabled startups, led by consumer Internet and financial services startups. According to the survey by startup data aggregator Tracxn, the e-commerce growth of 2015-16 has touched the elevation of 21.4%, which is $17 billion.
With the help of these startup boosting programs, Indian startup can create its own environmental challenges, which will be faced by the country. Raed more about Indian Startup Ecosystem.