Its Not Just Startups, Tech Accelerator Jaarvis Shuts India Operations, Write-off Investment

In India, its not just startups facing the hard times as in a recent unfortunate instance a Hong Kong-based tech startup accelerator Jaarvis is shutting down its India operations and is also in the process of writing off investments in its portfolio, reported Economic Times.

Launched in 2015 in India and operating from Gurgaon, Jaarvis Accelerator takes early stage technology based startups and helps them rapidly build a sustainable business. It used to have 4-months residence accelerator program and at the end of each four-month program, all Incubatees will be invited for a “Pitch Night” where they were given an opportunity to showcase their product/business to institutional investors and attract further funding.

Till date, Jaarvis accelerated nearly 13-14 startups in the space of Internet of Things, robotics, online-to-offline, fintech, mobility, and other emerging technologies. As part of its accelerator programme, selected startups got access to office space, mentors, prospective customers in Asia Pacific and funding of up to USD50,000 in return of 10-12% stake.

In December 2016, Jaarvis also launched ‘CoWork’, which was touted as India’s first co-working space within a tech accelerator.

Jaarvis' portfolio companies include Arbunize, Comparometer, DesignDodo, Drinks on Me, Edurev, Psychd, R2 Robotronics, Sniffer, Spotwrks, Extra Carbon, iManageMyHotel, and PromOn.

Citing an industry expert, the Economic Times report further said that shutting down of Jaarvis is not shocking as other startup accelerator in India especially of private-label are not doing good as well.

Accelerators are shifting their business models as they find it hard to sustain operations out of revenue from the equity startups give them. This is the key finding in a new report based on a survey of 579 accelerator programs that invested $207 million into 11,305 startups in 2016. Out of this, about US$18 million went into 1,368 startups from 76 accelerator programs in the Asia Pacific region, according to an annual Gust report released in September 2017.

Jaarvis Accelerator in Partnership with Incubate Fund Launches B2B IoT Accelerator Program

Jaarvis Accelerator is set to launch India’s first 6 month B2B IoT accelerator program in Bangalore and Gurgaon in partnership with Incubate Fund, Japan’s leading seed fund upto $50,000 investment and option of $100,000- $300,000 post program funding.

If you are a B2B Industrial IoT startup developing a product or service that can disrupt the agri, health, logistics, retail, energy etc. then you are exactly what JA is looking to support! You will get access to the right mix of investment, support, prospective customers in Asia Pacific and inbuilt investor connect to validate your idea and conduct pilots so what you develop is highly relevant and has traction with prospective markets.

HIGHLIGHTS OF THE PROGRAM

FOCUSED IoT PROGRAM: A focused IoT startup accelerator program with connect to the right hardware manufacturers, component suppliers and other IoT ecosystem stakeholders.

INITIAL FUNDING: Get funding of upto $50,000 as a part of our startup accelerator program to help you convert your prototype or idea into a viable business.

MENTORSHIP: Get access to some of the best mentors from financial institutions as well as for business planning, strategy, marketing etc.

INVESTORS: First of its kind accelerator program with Incubate Fund - Japan’s leading seed fund being integral part of the program including pre & post program seed investment option.

CUSTOMER ACCESS: Get access to global financial institutions to validate your idea and conduct pilots when ready. These institutions will also be your first set of customers.

INFRASTRUCUTRE: Access to best-in-class fully furnished office with meeting rooms, startup lounge, Cafeteria besides IT infrastructure in Gurgaon or Bangalore.

SUPPORT: Get the backend legal, social media, finance and HR support to make your startup journey as smooth as possible.

MEDIA & PR: The right visibility in the ecosystem makes all the difference. Get access to the best media network for the right push your startup needs to get noticed.

DEMO DAYS: Jaarvis Accelerator arranges specially curated demo days to bring incubated startups in front of the most relevant global early stage investors for the seed funding.

The Jaarvis team will be there at Bangalore on Saturday the 19th November, 2016 for an info session and one-on-one meeting with selected startups. This is a great opportunity to interact with the Jaarvis’ senior management team, check out the co-working space, learn about the program and its benefits, and understand what it takes to get into JA.

Agenda

10:00 AM - Registration

10:30 AM - Jaarvis IoT Accelerator Program overview

11:00 AM - Q&A

12:00 PM - Networking

Fee: This event is free to attend but entry is by invitation only, based on the information submitted in the application form below - https://goo.gl/forms/DhGw93vHn9E89huB2

Note: Jaarvis team will review the submitted details and send invitations by email to shortlisted startups. Please note that RSVP DOES NOT reserve your seat. Jaarvis team will also reach out directly to some of the shortlisted startups to schedule one-on-one meetings and discuss their product and business idea in the second half of the same day and on the next.

Venue: Starttopia
Vinir Tower, No 6 BTM Layout
100ft Main Road, Bangalore 560068
Landmark: Opposite Gangothri Hospital

Image Source: ShutterStock

Top Ten Finalist of #Her Pitch - An Initiative to Encourage and Support Women-led Startups

Earlier, HerSaga had announced ‪#‎HerPitch‬ in association with Jaarvis Accelerator, a first of its kind initiative to encourage and support women-led startups.

Making their way through an overwhelming number of applications, HerSaga present to you the top 10 finalists that will pitch today and the winners will have an opportunity to join the Jaarvis Accelerator program.

1. PoolWallet

Worried about sharing expenses on a trip or pitching in to buy a gift for a friend without the hassle of one person bearing all the expense. Here’s Poolwallet for you. It is a mobile peer-to-peer and group payments social network which allows you to share expenses and split payments. It aggregates multiple mobile wallets and payments system to allow online real time sharing of expenses. What’s more? You can also create a personal wishlist and share it with your friends to involve participation and/or contribution.

Co-founder: Smita Mishra

2. Hope Collective:

This is an online marketplace where each purchase pays out as hope to a social cause. Hopecollective provides an e-commerce platform for merchandise produced by NGOs and social enterprises. It not only aids the NGOs by providing enabling them and reducing the dependency on charity, but it also supports and provides a voice to various social, economic or environmental cause which do not generally find place in traditional marketplace.

Co-founder: Devakshi Nayar

3. Clean Money

Inspired from Swach Bharat Abhiyan, Clean Money is an effective solid waste management system. It is a ecofriendly and profitable method to improve the methods of waste disposal.

Co-founder: Diksha Vashisht

4. Algaari

With growing urbanization, the air pollution levels have also been on a rise. With a generation that spends most of their time indoors, may it be in schools, homes or offices, what we need the most is clean air. Algaari combines cleantech and healthcare to bring to you an indoor air purifier that filtrates and purifies indoor air making it healthy to breathe.

Co-founder: Sweta Joshi

5. EasyPuja

EasyPuja helps you organize a puja (religious ceremony) at the click of the mouse or a phone call. It not only brings the necessary items of the ceremony to your doorstep but also helps you find an authentic pandit of your community to perform the puja. It is cost effective, time saving, and quite useful for the tech savvy generation.

Founder: Riya shah

6. Campify

This mobile app aims to keep the students updated about latest happenings in the college campus. From academic information to the news and events, this app broadcasts live updates and keep the students informed about every tiny update.

Co-founder: Divya Goyal

7. Foospot

Is there a way to get around wasting time every day to find a good parking spot or getting through in a congested road because somebody parked their car on the side of the road? Foospot has the answer. It lets you find out real time availability of parking spots and pre book them by paying through an online wallet. It also provides the facility of on demand valet and towing vehicles.

Co-Founder: Ekta Sengar

8. Ithaka Tales

Ithakatales is a pocket travel guide as a mobile app that provides you travel experience in various formats, ranging from images and text to self-guided audios. It provides freedom, ease of access and flexibility as well as gives room to explore various travel aspects on the go.

Co-founders: Rachna Pande

9. Zucate

Zucate is an interactive learning technology which aims to fundamentalise learning and enhance accessibility in K-12 segment. At Zucate, the education pattern is customized to suit the learning curve of a child, while giving him/her access to a network of teachers to clear doubt through live time chats and forums. Apart from concept nodes, mind maps and other learning techniques, it also allows parent follow-up and progress trackers to keep the parents informed about a student’s development.

Co-founder: Moitreyee Goswami

10. RF Creators

RF creators have brought customized RF antennas and circuit design and development to the Indian markets, thus reducing the outsourcing from China and Korea.

Co-founders: Jenny Charan