Y Combinator Picks Three Indian Startups For Its Next Batch
Indian Startups Are Making Waves Internationally
With its upcoming summer batch, Silicon Valley accelerator, Y Combinator, has just announced the names of three Indian startups that will make into its program. This is the first time that multiple Indian startups have been chosen for this prestigious accelerator program.
The Selected Three
Innov8- It is a startup based in Delhi’s Cannaught Place and offers co-working spaces, with plans starting from Rs.600/-per day to Rs.14,000 a month.
JustRide-A self-driving car rental service which has already generated a lot of buzz in its initial funding round.
Meesho- It’s an app for sellers on Facebook using which one can setup their own free shop on Facebook and Whatsapp and start selling their products or services.
Y Combinator’sAccelerator Program
The three companies will be joining a three-month long program in its Mountain View headquarters. At the end of the program, each company will present its startup idea to an exclusive audience. Y Accelerator will be investing a sum of $120,000 in each startup in exchange for a 7% equity share.
The Vision Behind All Of It
Sam Altman, President of YC, believes that India has the ability to enter the coveted ‘multi-billion dollar startups’ club. This is an exciting time for startups in India. Thanks to the government initiatives and capital inflow, Indian startup market is one of the fastest growing markets in the world. Sam Altman also believes that in the next couple of years, India would have produced a bunch of $10-billion-plus startups.
Takeaways:-
- Y Combinator, has just announced the names of three Indian startups that will make into its program. This is the first time that multiple Indian startups have been chosen for this prestigious accelerator program.
- Innov8, JustRide, and Meesho are the three selected startups.
- Y Accelerator will be investing a sum of $120,000 in each startup in exchange for a 7% equity share.
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