Happy News Entrepreneurs: 500 Startups Plans to Fund 30 Indian Startups
Bangalore: It must be surprising to know that India has around 100 million active internet users, with such a massive userbase it is very evident that our country is one of the biggest internet markets in the world. Increase in internet users also increases the quantity and quality of web products and our nation is seeing some great startups and entrepreneurs focusing on the development of such products. Accelerators and incubators are playing a vital role in the development of these startups by funding and assisting them during crucial situations. 500 startups is one such accelerator that actively looks to promote and fund creative startups across the country.
In a recent interview with The Economic Times, Paul Singh from 500 Startups announced that the accelerator is looking to fund 30 Indian startups a year. 500 Startups has funded over 400 startups globally in the span of just 2 years. It provides $50,000 cheque to the accelerated startup and also arranges follow on funding depending on the performance and the progress of the company, reports Watblog.com.
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