Kerala startup Mission in association with Ernst and Young have started a Business & Technology Accelerator to provide for fully equipped and functional office space of 1500 sq.ft at the Drishya Building, KINFRA Film & Video Park, Thiruvananthapuram.
The objective of the accelerator program is to offer technology and business thought leadership and mentorship support that can aid in the development of the selected start-ups incubated in the state of Kerala through a 6 month acceleration ( extendable by 6 more months) program to facilitate business sophistication and skill enhancement of the selected entrepreneurs. The program would encompass mentorship support in all areas of business and technology including Business strategy, Finance, HR, investment proposals, emerging technology trends, market research etc.
The accelerator program will also support entrepreneurs to network with industry captains, angels, venture capitalists etc.
The selection of Entrepreneurs to the accelerator would be based on the recommendation of the expert committee.
a. Selection Process: The selection process to the accelerator would be done through an application process. An application has to be submitted to the centre along with the organization’s profile, ownership details and audited annual reports.
b. Post admission process: The expert committee selects a list of Entrepreneurs to be admitted to the accelerator. Key people from the selected organization would be requested to work out of the accelerator. The accelerator would draw up a mentorship plan comprising of both technology and business which would be shared with the entrepreneurs for mutual agreement.
c. Semi-annual review: Two formal performance reviews of each company at the centre are required. The expert committee gauges the progress of the company against its objectives. The expert committee also evaluates the impact of the mentorship and technology support provided by the centre. Any further assistance in the form of mentors, consultants etc required by the entrepreneur is identified during this review.
d. Duration of the acceleration program: The duration to operate at the accelerator shall be for a term of 6 months. An extension of one more term of 6 months shall be considered on a case-by-case basis based on the recommendation of the expert committee.