Edtech startup accelerator EDUGILD sees interest from overseas startups

Receives 8 applications for its first batch from Spain, Israel, Japan, among others, while its second batch has received 15 applications

Education technology start-up accelerator EDUGILD is seeing interest from overseas for its 16-week mentorship and product realisation programme. EDUGILD conducts two batches every year.

In its first batch, EDUGILD received eight applications from overseas. It has global accelerators from places like Israel, Spain, Japan, London, Columbia, New York and Singapore. For the second batch, it has received 15 applications from overseas out of which two are from Israel. 

Rishi Kapal, CEO, EDUGILD said that the aim is to assess how ready are the startups to scale up. "We look at the global potential of the application and it is not just Indian startups, but even those from abroad who have applied to us for the mentorship programme," he said.

Launched in June 2015, EDUGILD is incepted by Pune-based Maharashtra Institute of Technology (MIT). It offers a 16-week intensive mentorship and product realization program to any EdTech start-up in the world. 

Under the EDUGILD programme, start-ups receive seed funding worth Rs 15 lakh in return for a minority stake (sub 10%). It also provides mentorship and guidance regarding instituting a start-up, pitching to venture capitalists (VCs), business management and customer acquisition, marketing and help in scaling up business.

The 16-week programme features multiple interactions with mentors, both online as well as off. Workshops and intensive session of topics most relevant to founders are held twice a week. Each week will focus on one or more topics related to various aspects of creating successful businesses. Kapal said that apart from strategy and finance, they are also keen on people and teams. With MIT's backing, he said that personnel were also easily available as employees/interns for the startups.  

In its first year, the programme received applications from 300 entrepreneurs' focused on the education sector from all over India. Of these, EDUGILD selected four companies for its accelerator programme. EDUGILD has also joined hands with the renowned ISDI to establish a design accelerator for startups.

Recently, EDUGILD also signed a collaborative MoU with Cambridge University Press (CUP) India, to jointly support development of a strong edtech startup ecosystem in the country. The MoU allows EDUGILD and Cambridge University Press to bring key stakeholders on a single platform– startups, mentors, early stage funding, publishing houses, corporates, subject matter experts, institutional partners and investors.

The EDUGILD Accelerator is now open to receiving applications for the second batch and has already commenced acceleration of its first batch of co-horts. These budding companies will get mentorship, seed funding, MPV solution development; product market fit guidance, customer acquisition support and access to high-ticket funds, as a part of the acceleration programme.