India Angel Network opens Mumbai incubator space

The 3,500-square-foot space will accommodate 25 start-ups, providing a physical space for IAN's virtual incubator which launched in 2010, Sanjay Mehta, IAN member and founder of MAIA Intelligence, told AVCJ.

Companies entering the program - launched with the support of the National Science and Technology Entrepreneurship Development Board (NSTEDB) and the Department of Science & Technology (DST) - will be incubated for 18-24 months. They will gain access to mentors, working space, and seed-stage capital. The IAN incubator has a network of around 30 members.

Start-ups that have already taken part in the program include e-book distribution platform Swift Boox, online building materials marketplace eConstructionMart.com, lingerie e-commerce platform Elegantdiva, and higher education search engine IndiaCollegeSearch.com.

Launched in April 2006, IAN has around 287 members - 60 of whom are lead members - and claims to be India's first and Asia's largest angel network. The group has mentored start-ups across several geographies including India, Sri Lanka, the UK, the US, Canada, France and Hong Kong.

In the last month IAN has backed two Indian start-ups: LoudCell, an internet-of-things (IoT), cloud-based platform for improving fuel efficiency in diesel vehicles; and Zippr, a site that generates easy-to-share short-form URLs.

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• Topics
• South Asia
• Early-stage
• Technology
• India
• India Angel Network (IAN)
• seed
• Technology