Bangalore: Bangalore-based Minjar Cloud Solutions has acquired start-up venture Adepto Solutions, which offers a platform to launch customized applications on Facebook, marking the first instance of a company being incubated in an accelerator being bought in India.

The three-year-old venture was part of the second batch of startups at the Microsoft Accelerator in Bangalore. "This signifies the success of the alterations we made in our programme, which includes more seed stage, angel investors as lead mentors, sharper focus on product definition and a strong user experience support," said Mukund Mohan, CEO in residence at Microsoft Accelerator, which was launched in mid 2012 has since graduated nearly two dozen startups.

Nearly 35 privately run accelerators have sprung up across India's fast-growing accelerator ecosystem in the past year. Scores of young ventures coming out of these programmes are in the hunt for follow-on capital and resources to grow fledgling ventures.

"India is becoming a hotbed of start-ups. Few years ago, a startup was the 'face saving' option for someone who didn't manage to secure a decent job. Today, even successful executives are leaving high-paying jobs to turn entrepreneurs," says Raman Roy, chairman and managing director of Quatrro and cofounder of Indian Angel Network.

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