TLabs, which is a startup accelerator funded by Times Internet, has selected five startups for its next 6th accelerator batch. The five selected startups span across sectors like big data, mobility and video etc.
This new batch of five startups has taken the TLabs portfolio count to an amazing thirty six startups. The programme spans over four months where the accelerator invests Rs. 12 lakhs in a startup for eight percent vests equity. The accelerator also provides the startups with a panel of over sixty mentors in order to support the young and new entrepreneurs.
The five selected startups include big data tool Neuron, mobile app developer Mobapper, YouTube marketing and analytics company Vidooly, mobile browser Flynx and Wibe, which will soon launch something similar to Wikipedia for videos. These five startups were selected from some 600 odd applications that the accelerator received for its sixth batch. Tlabs usually deals with companies in the mobile and internet technology space.
"The startups coming to us now already have a product ready. After iterations in a few weeks, they are ready with the final product", said Abhishek Gupta, who is the head of TLabs, in a statement to Economic Times.
India has over forty startup accelerators, which include Kochi’s Startup Village, multi-city accelerator GSF and Microsoft.
According to experts, valuing each startup equally works best for an accelerator, as most of these startups are still in their very initial stages and during this time projections really do not matter.
According to Dr. Krihsna Tanuku, the executive director at the Indian School of Business, Hyderabad, “What matters the most is how timely the investment is. It could mean the difference of running or shutting down the company.” This statement was given to the Economic Times.
Keeping in mind the rising operational costs for startups and market dynamics, TLabs has increased the amount of its initial investment in the startups. "The Indian ecosystem needs it. The valuations are now in line with startups overseas", said Gupta. According to the current trends, a company is valued at about twice the price in Silicon Valley than that of its peer in India.
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