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BCCL in JV with GSVlabs to launch start-up accelerator programmes
MUMBAI: GSVlabs, a Silicon Valley-based global innovation centre that accelerates start-ups, has formed a joint venture with Indian media conglomerate Bennett Coleman and Co Ltd (BCCL) through its $2-billion strategic investment arm, Brand Capital.
The JV BC–GSV will launch accelerator programs in Bangalore and Gurgaon beginning in the summer of 2016, creating a bridge between Silicon Valley and India.
Start-ups participating in this programme will benefit from connectivity to high-impact mentors in both countries, intensive entrepreneurship curriculum developed at GSVlabs, and valuable networking opportunities, including funding access.
Participating companies will also benefit from the marketing power of the Times Group, which produces the Times of India, the most widely circulated English-language newspaper in the world, as well as the Economic Times. In exchange for these benefits, BC-GSV will take an equity stake in each participating venture.
“GSVlabs is focused on empowering the next generation of game-changing entrepreneurs. BC-GSV’s vibrant community will serve as a catalyst for motivation, ideas and progress for the participants throughout the programme so that they can engage and learn from some of the brightest minds in India and abroad,” said GSVlabs CEO Marlon Evans.
“In the Times Group and Brand Capital, we have found a partner that shares our passion and vision for a truly global Silicon Valley, and offers the local expertise and connectivity to make the model a success in India. We couldn’t be more excited about the opportunity,” he added.
Applications opened on 16 May and the program will begin hosting its first batch of participants on 21 June.