The company is evolving its business model to become the go-to place for high-quality teams and start-ups at early stage, offering $50,000 to each start-up
BestMediaInfo Bureau | Delhi | December 18, 2014
TLabs, the leading start-up accelerator in India, is evolving its business model to become the go-to place for high-quality teams and start-ups at early stage. TLabs will be offering a larger amount of initial capital and establishing a presence in Bengaluru.
Over the last three years, TLabs has had six batches and 36 total start-ups which have shown great success. More than 60% of start-ups that have graduated raised an average $450,000 in follow-on funding. TLabs also boasts of a strong community of more than 300 founders and employees.
The recent expansion reflects TLabs’ desire to be at the forefront of the start-up hub in India. Starting in January, TLabs will offer its accelerator program out of Delhi NCR and Bengaluru.
In addition to expansion, TLabs has also increased the amount of capital it will invest in each start-up to $50000, to provide a longer validation and growth runway, amid rising operational costs during early stages of a start-up.
On the occasion, Abhishek Gupta, Head of TLabs, said, "TLabs has always been a start-up, learning and evolving its business model. We are entrepreneur-friendly, and we want to work with world-class teams to build the next big business together. With the expansion and funding increase, we can work with more evolved start-ups, and can offer them more help to reach their goals."
This also means that competition for the start-ups to enter into the coveted program will also increase, as the valuation offered to each start-up will range from Rs 3.5 - 4 crore. It will also allow start-ups to syndicate the first round with TLabs being a lead investor in the funding process.
CEO of Times Internet, Satyan Gajwani, said, "We started TLabs to help foster a stronger entrepreneurship ecosystem. In the last three years, we've helped 36 new companies get formed and chase their dreams. As we look forward, we want to play a larger part in creating ‘Digital India’, and we want to enable more entrepreneurs to drive our digital revolution."