Alacrity India $10 mn Start-up fund launched in Pune by Sir Terry Matthews

Alacrity India $10 mn Start-up fund launched in Pune by Sir Terry Matthews

Posted by P. Charitha on November 13th 2017

Welsh-Canadian business magnate &serial entrepreneur, Sir Terry Matthews, & Chairman of Canada-based investment management firm Wesley Clover International, has recently launched the Alacrity India Start-up fund in India.
This is in collaboration with Pune-based Ideas to Impacts, which is into promotion of innovative business ideas which are of social impact.
Speaking on the launch of Alacrity India start-up fund, Sir Terry Matthews, stated, “Timing is everything in life, and the timing for Indian start-ups could not be better. By expanding our Alacrity Global start-up ecosystem to India, we are enabling Indian entrepreneurs and partners to create investable, global enterprises, while at the same enabling our existing Alacrity start-ups to actively engage with the burgeoning India market.”

Alacrity India Start-up fund details 
Importing proven Alacrity Global B2B SaaS incubation and acceleration programmes to India.
Creating a Venture Capital fund corpus of $10 million USD, with investors including Wesley Clover, Ideas to Impacts, angel groups from India, and Indian industrialists and corporates.
Providing seed funding for idea-stage and accelerator-stage start-ups, with investments reaching to $750,000.
Offering technology licensing relationship opportunities within the Wesley Clover and Alacrity Global portfolio of companies to accelerate time-to-revenue and reduce technology risks.
Leveraging India Stack to reach markets that scale to 100’s of millions of Indian citizens.
Establishing partnerships with leading engineering colleges from India’s Tier II and Tier III cities, such as COEP in Pune, BVB in Hubli and VNIT in Nagpur, to identify entrepreneurial talent and help nurture them into the next generation of technology business leaders.
Featuring a 13,000 square foot headquarters and incubator/accelerator office space in Pune, in a new 32,000 square foot office tower. The groundbreaking ceremony for this facility will be on Thursday, November 16, and will be attended by a number of dignitaries.
Over the next five years, Alacrity India plans to support and mentor more than 30 start-ups.
 

Comments

No Comments Found

Leave your comment

Sign in to Post your Comments on this story