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Moonshot Accelerator aims taking Indian startups global
Uma Kannan, Bengaluru, Oct 14, 2016, DHNS 0:01 IST
Moonshot Accelerator, which assists entrepreneurs to gain access to mentors and capital to build companies, is building its mentorship network. Founded in May this year, as many as 10 startups and 25-odd mentors have signed up with the startup so far.
“There are no India-specific accelerators that can help take Indian startups global. Most accelerator programmes in India are local and some early-stage venture capital firms help provide resources to startups,” said Moonshot Accelerator Co-founder Aryaman Dalmia, adding that the Silicon Valley-based accelerator, with an Indian presence, will complement efforts of the local accelerators and the VC community.
“Our journey has followed the typical startup J-curve. We have signed up startups, angel investors and mentors and are moving forward,” he said.
When asked about its model, he said, “We currently have a success fee-based model, paid for mostly angel investors and sometimes by startups. We will take equity positions in startups eventually.”
When asked about the recent reports of decrease in VC funding, he said, “VC funding has decreased because returns have not been forthcoming. The venture business is cyclical as well, and we have seen that in the Valley. The long-term trend is that of startup growth, and the venture industry, though the focus may be on more robust business models, more business-to-business segments, rather than business-to-consumer.”
“Our mentors in many ways are our unique selling proposition,” he added.
“We believe that good management principles remain the same, no matter which sector you are in. There is a myth that the tech sector requires a different management skill. Some of the mentors who have signed up to help our companies are Niladri Mukhopadyay (Managing Director, Goldman Sachs), Todd Sachs (Senior Manager of Camera Algorithms, Apple), and Jim Behrens (Founder and CEO, MobileAngel),” he concluded.