VentureNursery Receives 100-plus Applications For Startup Accelerator Programme

7 May, 2012

Three out of ten applications for VentureNursery's debut batch accelerator program have come from entrepreneurs who have already been associated with at least one other startup in the past, showing how the eco-system is seeing creation of serial entrepreneurs. VentureNursery, an angel-backed startup accelerator launched two months ago, has received over 100 applications from 17 cities for its inaugural boot camp as well as its ParallelTrack accelerator program.

It was launched in March 2012 by angel Investors Shravan Shroff, founder and former MD, Fame Cinemas and Ravi Kiran, former CEO-South East & South Asia, Starcom MediaVest Group and co-Founder and managing partner, Friends of Ambition.

The accelerator is focusing on startups in six sectors – media & entertainment, retail, e-commerce, consumer technology, education and cleantech. Bulk of the applications were for retail, consumer technology and e-business sector, according to a company statement.

Around 29 per cent of the total number of application came from entrepreneurs who have been involved in at least one startup in the past.

Apoorv Ranjan Sharma, executive VP, VentureNursery said, "The strong response reaffirms our conviction in the role of VentureNursery in mentoring start-ups and ideas. We are screening the applications now and will interview promoters of shortlisted start-ups shortly."

VentureNursery has also received around two dozen applications for its ParallelTrack program, which is meant for startups at a more advanced stage and who may not need to go through the entire 90 day boot camp.

The application process for the boot camp started on April 1 and closed on April 23.