Vikram Upadhyaya, a serial entrepreneur and member of Indian Angel Network, has launched a startup accelerator called GHV (Green House Ventures) accelerator.
GHV is planning to on-board 25 startups by early 2017. Each startup will receive up to $100,000 in sustainability funding at the end of the programme, in addition to an opportunity to showcase its product to Japanese institutional investors.
GHV claims that the accelerator will help startups build a foundation for scalability and achieve healthy business metrics in order to reach the Series A funding in a shorter time frame.
"Only one per cent startups are successfully able to achieve a Series A or VC funding. Most accelerator programs help companies get past the proof of concept stage, and then leave the startups to fend for themselves while raising growth capital," said Upadhyaya.
"As an angel investor, I had felt this need gap for my portfolio companies and hence realised the need of GHV programme so that we identify high-potential startups and nurture them to be ready for Series A funding," he added.
The accelerator programme is supported by several VCs, serial entrepreneurs and industry mentors that include Rehan Yar Khan of Orios Ventures, Mukul Singhal of SAIF Partners, GoDaddy India CEO Rajiv Sodhi, Sunil Goyal of YourNest Fund, Manish Singhal of LetsVenture, Pradeep Gupta of CyberMedia, Manish Vij of Smile Vun Group and Shailesh Singh of Seedfund.
An alumnus of University of Tokyo, Upadhyaya has previously invested in a number of companies including Druva, Stayzilla, Merinews, IndiaCollegesearch and Viedea.