Silicon Road Invites Applications for its Inaugural Accelerator Program
U.S. based retail only Venture Capital firm, Silicon Road has opened applications for its inaugural edition of the accelerator program in India. The accelerator will be focusing exclusively on retail and food tech startups in India and it will be powered by NUMA, a French international innovation hub and startup accelerator.
Based in Mysore, the Silicon Road Accelerator was founded by Sid Mookerji, a leader in retail innovation and the former founder and CEO of Software Paradigms Infotech (SPI). However, the Indian operations will be headed by Sanjay Srinivasmurthy, the current Director at Silicon Road Ideation Labs. The Accelerator program powers the main three hubs of innovation in the U.S, India and Israel to point out the revolutionary ideas in food and retail a global platform. The four-month acceleration program intends to provide world-class funded support and infrastructure for startups, particularly in food & retail tech. It also aims to help startups to ascend from a ‘Minimum Viable Product’ stage to an investment-ready stage. Startups can apply for this program at their website and the last date for application is on 20th April 2019.
Excited about the accelerator program, Sid Mookerji, comments, “Silicon Road is for entrepreneurs with transformative solutions that address the most pressing technology needs of the retail and food industries. Like SPI did two decades ago, I expect Silicon Road to once again be transformational for startups and for the city of Mysore”.
The accelerator program has an estimated value of $40K and also, from an additional partner which adds upto 700K Euros. The selected startups will get a chance to work with the Silicon Road’s local and international network of food and retail tech corporates, mentors, research infrastructure, industry experts, founders, partners and other foreign delegation to enable the startups to build their own networks. Benefits from the accelerator programs includes the funding and support on cash burn, access to international & local networks around the retail and food tech industries, tailored program to accelerate the startup growth and quality mentoring from best mentors and experts, free office space and infrastructure in Mysore.
Headquartered at Atlanta, Silicon Road’s main objective is to create an ideal setting for entrepreneurs to boom and transform retail by influencing with the likes of best thinkers. It helps the retailers who don’t have the resources to sustain a meaningful program on their own, allowing them to invest and own the technology that empower the future profitability.
Founded in 2013, NUMA is an innovation hub that focuses on bringing three main activities; community events, startup acceleration, and innovation programs for corporates. The space enables its clients to accelerate companies, communicate and create, experiment, co-work, and hold events. NUMA is currently located at Paris, Moscow and Bangalore.
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