IIM-A's CIIE launches third edition of iAccelerator

The Centre for Innovation, Incubation and Entrepreneurship (CIIE) at the Indian Institute of Management, Ahmedabad (IIM-A) will be flagging off the third edition of its initiative iAccelerator from August 1. The incubation centre of IIM-A will be accepting application for its 2011 batch and will be looking at participation from individuals and teams from the internet & mobile domain.

An incubation program designed by CIIE, iAccelerator aims to equip technology entrepreneurs to establish well run, technically excellent and profitable companies and looks for start-ups specifically in the internet and mobile domain. Since the last two editions of iAccelerator, CIIE has incubated close to 17 companies in the Internet and mobile domain.

"Selected start-ups will be invited to a three month-long training at CIIE starting from November 1 and will be given mentoring and other support from a network of experts. Here the start-ups will be encouraged to come-up with a working prototype of their product and acquire initial customers. This will be followed by a demo day which will be held towards the end of the program will give iAccelerator start-ups an opportunity to showcase their product in front of early stage investors," said Pranay Gupta, joint chief executive officer at CIIE.

Among those successfully incubated through iAccelerator include the likes of Flick2know, Hashcube, Innoz technologies and Spardin technologies in the Internet and mobile domain at CIIE.

All the selected start-up finalists at the programme will receive total Rs 5 lakhs as seed fund from CIIE or an angel investor.

CIIE that fosters innovation driven entrepreneurship has incubated around 45 start-ups in the past two years.