India’s leading start-up accelerator, TLabs has finally entered Bangalore and is trying its best to entice new age start-ups and hight quality teams that are in the starting stages of their journey. TLabs are looking to offer a larger sum of initial capital with a view to establish a solid foundation in Bangalore.
TLabs has had 6 batches of 36 start-ups under its wing during its course of 6 years. On an average, more than 60% of these start-ups have gone on to raise an average of $450,ooo in follow on funding. TLabs also has a very strong community of more than 300 founders and employees. This recent expansion from TLabs showcases their desire to break into the the start-up capital of India, Bangalore.
In addition to this expansion, TLabs have also announced that they will be increasing the initial amount of capital that they will be investing in these start-ups. This figure will go up to $500,000 in a bid to provide longer validation and growth runway despite the rising costs that are encountered during the starting phases of a start-up.
Abhishek Gupta, head of TLabs stated that,”TLabs has always been a startup, learning and evolving its business model. We are entrepreneur friendly, and we want to work with world class teams to build the next big business together. With the expansion and funding increase, we can work with more evolved startups, and we can offer them more help to reach their goals.”
Another thing that can be deduced from this announcement is the fact that the competition to enter this coveted program will increase as well. The valuation offered to each start-up will be range from 3.5 cr to 4 cr.
The CEO of Times Internet, Satyan Gajwani, the group behind TLabs said,”We started TLabs to help foster a stronger entrepreneurship ecosystem. In the last 3 years, we’ve helped 36 new companies get formed and chase their dream. As we look forward, we want to play a larger part in creating “Digital India”, and we want to enable more entrepreneurs to drive our digital revolution.”
This announcement from TLabs is great news for all start-up. India finally has an accelerator program that it can call of it’s own. The start-ups get better funding and terms at the start along with giving themselves a much better chance to grow in the long run.