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Guess who’s just arrived in Bangalore to help young Indian entrepreneurs take off? It’s France’s top startup accelerator NUMA, which has shortlisted 12 firms for its first mentor program in India.
NUMA, which has a track record of accelerating 103 startups globally, has tied up with Airbus Bizlab for the six-month program. The aerospace business accelerator is hoping to give a boost to aeronautical entrepreneurship in India.
“The vibrant ecosystem and the growing numbers of startups in India certainly fall in line with our plans,” Frederic Oru, COO of NUMA, said in a press release.
India has been witnessing a startup boom, with three to four firms coming up every day. Funding continues to pour in even though there have been reports that investments for older firms may begin to dry up.
Some startups have also been in the news for the wrong reasons – such as poor management, reckless spending, and over-hiring. A lack of experience often lies at the heart of these troubles. And it is these wrinkles that an accelerator program could help iron out, especially for early-stage startups.
The 12 chosen by NUMA will be extended operational, legal, and marketing support along with coworking office space. The firms will get to meet domestic and international investors for funding prospects. And that could mean pulling in some European investors.
“We believe our program will help a lot of budding entrepreneurs in achieving their dreams,” Frederic said.
Airbus Bizlab, which has come to India after launching in France and Germany, is hoping its participation and expertise will boost aeronautical entrepreneurship in India.
“Airbus has always been at the forefront of innovation for many years, but now the ecosystem is changing. We need to broaden our horizons,” Bruno Gutierres, head and founder of Airbus BizLab.
NUMA says globally 83 percent of the startups it accelerated are still active after four years. NUMA Bengaluru is a joint venture between NUMA Paris and Metaform.
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