Indian Tech Startups Prefer U.S. And Singapore Based Accelerators
“There are lots of problems to solve in India and smart entrepreneurs are going after areas that aren't as "sexy" as other areas. For example, E-commerce may be sexy but startups solving logistics problems are doing very well,” said Pankaj Jain to SiliconIndia
Singapore’s Joyful Frog Digital Incubator which is normally referred to as JFDI had received over 40 applications for its current batch. The three year old incubator has picked three ventures, one of which is AskAbt and the other a medical practice software maker DocTree.
JFDI gets startups which want to go far quicker with more certainty. They focus on Asian ventures building solutions for local markets. Companies chosen enter a 100-day programme out of which 60 percent manage to secure a follow on funding. JDFI’s CEO Hugh Mason says that most startups record a valuation of about $1 million by the time they leave the accelerator. Entrepreneurs say that this outcome based process is totally different from what India based accelerators incubators offer.
Read: 5 Key Points To Make Best Use Of Seed Funding
Also read: 11 Powerful Entrepreneurship Nuggets by Bruce Lee
