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Gujarat, a leader in innovation, has consistently secured top ranks from the Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, in 2018, 2019, and 2021. Under the ambit of the Gujarat Industrial Policy, a remarkable 377 startups have secured funding amounting to Rs. 58 crores. This unwavering support from the government has galvanized the private sector, fostering a conducive environment for startups to flourish. With the inauguration of operations in Ahmedabad, IA's strategic move exemplifies a strong investment in the untapped potential of tier 2 cities and Gujarat's compelling attributes. In a dedicated effort to elevate the startup experience in Ahmedabad, IA has introduced a new co-working space sprawling across 1500 sq. ft., accommodating up to 200 seats. This initiative not only underscores IA's commitment but also augments the entrepreneurial landscape, fostering innovation and collaboration.
With the commencement of operations in Ahmedabad, IA's move signifies a robust bet on the potential within tier 2 cities and Gujarat's compelling attributes. To further enhance the working experience for startups in Ahmedabad, IA has launched a new co-working space over a sprawling area of 1500 sq. ft. with a seating capacity of 200 seats.
"Our current expansion marks the second phase of our journey, where we're not only broadening our geographic presence but also deepening our engagement within local startup ecosystems," articulated Ashish Bhatia, Founder of India Accelerator. He further emphasized, "We are focused on building a dominant, world-class global powerhouse that at the same time can work very local. Hence our vision of going deep into country’s hinterland and build the ecosystem grounds up because the foundation of our business is seeds. At present, almost 10% of the accelerator's startups have their roots in tier-2 cities, which given the rise of local entrepreneurship, is set to increase to one-third of our portfolio, solidifying India Accelerator's commitment to nurturing innovation across diverse landscapes.”
Bolstering its commitment, India Accelerator envisions investing a substantial amount across a diverse array of sectors including Healthtech, Fintech, Agritech, Social Impact, Deep tech, and AI, aiming to empower 100+ startups in Gujarat by 2025. With a track record of backing over 200 ventures leveraging cutting-edge technologies, IA has propelled entrepreneurs with innovative concepts while raising three venture capital funds totaling 350+ crores in just six years. India Accelerator's forthcoming GIFT City Fund, amounting to 150 crore, is poised to further catalyze the ecosystem.
Through its dedicated domain-specific accelerator programs, IA plans to bring unparalleled expertise across India's startup landscape. Collaborative efforts with I-HUB, GIFT City, and educational incubators are envisioned, fostering localized entrepreneurship ecosystems.
Notably, IA extends its network to international regions like Dubai, Silicon Valley and Sri Lanka, enabling Gujarat startups to tap into global opportunities through strategic partnerships. IA's trajectory is marked by exponential growth, transforming from backing 5 startups with an investment of 70 lacs in 2017 to its present robust portfolio of 200+ startups with a collective investment of 50 crore. The accelerator's visionary path projects an investment of 500 crore in 1000 startups by 2030. With an eye on the future, IA envisions creating a combined valuation of $5 billion for its startups by the end of 2025, globally, by expanding into Tier 2 cities and unlocking latent potential.
About India Accelerator
India Accelerator is the first GAN partnered accelerator in India, endeavouring to provide 360-degrees cross-functional mentorship, business growth and funding to entrepreneurs. Government of India has recognised India Accelerator (IA) as the 'Best Accelerator of the Country!'. IA has created a vibrant entrepreneurial ecosystem in the country, have got 150+ start-ups under our portfolio, and have 1400+ mentors in our network who help start-ups in our industry-focused specialized verticals (HealthTech, AgriTech, Social, Energy, FinTech, Web 3.0, B2B SaaS, etc.). They work closely with Corporates and academia to help promote the development of an entrepreneurial mind-set and generate innovative solutions to their real-world problems.
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