Gurugram, June 21: India Accelerator – India’s leading mentorship-driven accelerator has expanded to the international market with the launch of the Lanka Accelerator brand in Sri Lanka today. The launch is aligned with the accelerator’s ongoing expansion spree to strengthen the startup ecosystem at the global level.
Lanka Accelerator is powered by India Accelerator, which was adjudged the Best Accelerator in India by Start up India. Lanka Accelerator’s agreement with India Accelerator is to help support its design, development and success. India Accelerator was adjudged the best accelerator in India- which in the last 5 years has redefined elements of the startup ecosystem in India.
Santosh Menon, Chairman of Kaleidoscope Sri Lanka, said, “I am truly delighted to announce the launch of Lanka Accelerator in Sri Lanka. There is no better time than this to launch such an enterprise. There is a crying need to unleash the entrepreneurial spark among the young and Lanka Accelerator aims to do just that.”
Ashish Bhatia, the Founder and CEO of India Accelerator, said, “ We are excited to power Lanka Accelerator with our expertise and competencies. The aim is to open all the services that sit within the India Accelerator Multiverse. Start-ups can have a powerful positive impact on society at large. From creating jobs to providing purpose, creating wealth, and improving GDP. Sri Lanka’s start-up ecosystem is in its nascency and there is a lot of upside for everyone involved. Lanka Accelerator, powered by India Accelerator, will offer incubation, mentorship, tech and educational support through our labs, and access to a cohort system to accelerate ideas from infancy to full development. We will also bring iAngels, our network of over 1500 global investors to support Srilankan Startups through investments.”
Commenting further, Santosh Menon, Chairman of Kaleidoscope and Co-founder of Brand, ‘ Lanka Acceletor’, added, “This is an unprecedented opportunity for corporate Sri Lanka to seek solutions to any problems that might enhance their efficiency and productivity- with the competence and expertise of India accelerator in offer. We will combine to offer unique, customized solutions to the challenges Sri Lankan corporates face. The combination of high-quality Sri Lankan tech expertise combined with the best start-up solutions from India will add tremendous value to local businesses.”
India Accelerator is part of GAN (Global Accelerator Network), a ‘By-Invite’ network of over 80 of the most highly respected accelerators on six continents and more than 100 cities around the world. To date, the network has helped over 3,200 companies receive over USD 4.8B in funding and create 21,000 jobs globally.
Within four years of inception, India Accelerator has achieved 25X Growth in 4 years, mentoring 140+ Startups and recording a USD 350Mn valuation of IA Portfolio Companies. Apart from this, it has created 3500+ Direct / Indirect Jobs in the market with a multitude of verticals including D2C, Deep Tech, Pulse- Health Tech, Web3 &Blockchain, Cyber Security, and AgriTech, B2B SaaS, Sports, Media & Entertainment and Social Labs – Impact.
The multiverse of IA includes iAngels- Angel Network, iA Labs- Education Services, iA CEP- CampusEngagement Programme, iA CAP- Corporate Accelerator Programme and iAspire- Female Founder’s Programme.
