Z Nation Lab started its 1st batch of the early-stage tech Startup Accelerator program to back startups targeting both the Indian and US markets.
It has shortlisted 13 enterprise and technology startups in the first Startup Accelerator Program, after evaluating more than 150 startup ventures in the Internet of Things (IoT), gaming, emoticon, and sensor technology segments.
Established in April 2016, Z Nation Lab has a ticket size of $50,000 per startup and will take an 8% to 12% stake in startups.
Besides helping with product development, go to market strategy and lean startup methodology at the Startup Accelerator program, Z Nation Lab plans to provide support in pitch coach, mentoring, networking, chartered accountants, lawyers, application and web developers and social media marketing support.
One of the mentors at Z Nation lab is Mr. Nitin Pradhan, founder of Washington DC-based Launch Dream Accelerator and Govonomy to help technology startups grow in US government markets and provide them with the opportunity to work with the US government.
The Startup Accelerator program will allow the shortlisted startups to interact with a team of experienced technology veterans, venture capital partners, pitch coaches and subject matter experts from India, Europe, and the Silicon Valley.
From the 13 shortlisted startups at 1st batch of the early-stage tech Startup Accelerator program, about three or four selected startups would get acceleration fund from Z Nation Lab, while venture capital firms such as Matrix Partners, Accel India, Mumbai Angels will be part of the investor panel on the demo day and may invest in promising startups.
Some of the mentors who will guide the startups during the Startup Accelerator program are Jurgen Hase, CEO of IoT business at Reliance Communications; Radhesh Kanumury, country head of IBM Global; Anshu Prasher, director at InnoVen Capital and Salil Pradhan venture partner and early-stage investor at Draper Nexus Silicon Valley, who has 54 US patents in his name, Salil who is also a board advisor at Z Nation Lab said he expects enterprise software and software-as-a-service segments to see a resurgence in the Indian market.
Here are the 13 shortlisted startups that will be selected for the 1st batch of the early-stage tech Startup Accelerator program.
Drona Aviation: Founded in 2014, the startup was incubated at SINE, IIT Bombay and manufactures nano drone platforms for educational and industrial applications. Its flagship product Pluto, a DIY nano drone, can be used to build applications with open-source firmware. It can be used in areas such as home security, firefighting, industrial monitoring and defense applications.
Feltso: The Hyderabad-based startup with the help of its proprietary artificial intelligence technology can read thousands of customer reviews from multiple sources, eliminates fake reviews and prepares a summary in a graphical and easy-to-understand way. Its social media automation tool SmatSocial uses AI to help customers increase their social media outreach.
ScoutMyTrip: This Mumbai-based firm helps users to plan road trips by signing up on their platform either through the website or through a social network. Users are provided with suggestions of where to stay, what to do, and what to eat. It also connects road travelers with one another through their community platform and helps connect to Scouts across India to get guide and explore new experiences whilst traveling on the road.
forBinary: Founded by two former Housing executives and IIT Bombay alumni, this startup offers its clients a platform to build customizable mobile apps.
Appsfly: This Bengaluru-based startup offers its users a platform, called AppSteam, to build and distribute micro apps. With micro apps, developers can create a basic copy of any of the native apps found on the Play Store or App Store, with minimal functionality and these copies can be tweaked to serve the purpose of another publisher.
Rubix108: Founded in 2015, this Pune-based startup offers a mobile-based ERP solution for educational institutions to manage day-to-day administration and communication.
GraduFund: This startup offers funding requests for tuition fees, education project and living expenses through crowd funding and donations
Vedic Rishi Astro: This firm provides personalized horoscopes and numerology predictions via an app.
Ayukrt: This Mumbai-based health-tech startup connects patients with doctors as well as pharmacies via an app, which is available in several languages.
Play Time Media: Currently in beta, this Mumbai-based startup hopes to solve the parking problem in cities through IoT and social, mobile, analytics and cloud (SMAC). Its platform, Get Parking, helps users find and manage to park with the help of a virtual parking assistant.
Toch: Founded in 2015, this firm offers users an interactive video platform via a mobile application. Users can add clickable hotspots or ‘tags’ to moving persons or objects in video. These tags allow users to view extra content hidden in the video and also offer immersive experiences.
AgroBazaar: This startup aims to connect small farmers directly with institutional buyers through their platform to access bigger markets.
Shash: This Pune-based startup offers payment solutions for online and offline markets.