Aimed at spurring innovation and entrepreneurship among new-age fintech start-ups, Gurugram-based GSF accelerator, has launched a fintech-specific accelerator — the GSF Fintech Accelerator 2018.
As part of the unique initiative, the accelerator known for providing knowledgeable mentorship capital to the start-ups, is calling in applications from fintech start-ups for a four-month programme, which will commence in July this year.
Under this, the selected start-ups will spend two months in Gurugram, three weeks in Silicon Valley, and one week in Japan, followed by a roadshow in India between October-November 2018.
As per the information available on its website, the start-ups applying for the programme must have a founding team of two to three members and should have reached the minimum viable product (MVP) stage with customers (either in pilot or paying).
Continuing with its innovative approach, India’s leading tech accelerator and seed funding platform says it will invest between $100 to $200K for up to 15 per cent equity into the startups inducted into the Fintech Accelerator program. GSF also does follow-on rounds of up to $500K in a few select startups after the programme.
As stated on its website, a typical week at GSF consists of three key elements: one-on-one mentor hours, workshops, and visits to other organisations, thereby facilitating interaction with the founders and the management team.
Further, GSF Fintech 2018 will comprise a founder panel that will not only invest in the start-ups but will also closely mentor them. The founder panel includes Rajesh Sawhney, founder, GSF, and co-founder, Innerchef; Sumesh Menon, U2opia; Ashish Toshniwal, Y Media Labs; Murugavel Janakiraman, Bharat Matrimony; Dinesh Agarwal, Indiamart; and Roshan Abbas, Encompass.