Risers Accelerator, a newly-launched platform that aims to provide financial, infrastructural and knowledge support to young entrepreneurs, Wednesday said it would shortlist 200 start-ups for mentoring in 2019-20. In a statement announcing the launch of its operations, Risers Accelerator said it is positioning itself as a "platform to transform the game-changing ideas of start-ups into feasible and profitable businesses".
The new start-up accelerator initiative is backed by a team of 35 young entrepreneurs from diverse backgrounds and sectors, it added. During 2019-20, Risers Accelerator will shortlist 200 start-ups across the country to support and nurture them.
"In case a start-up fails to raise funds by its own, Risers Accelerator will invest up to Rs 50 lakh per start-up," it added. Risers Accelerator has teamed up with Indraprastha Institute of Information Technology-Delhi to help its students become entrepreneurs through financial assistance and mentorship, and get the institute's technological assistance for start-ups, the statement added.
(With inputs from agencies.)