MIT Group announces accelerator program for edtech start-ups

Pune based MIT Group has launched an accelerator program for education technology startups. The institute has announced a 16 week program called 'Eduguild' which will provide a seed investment of Rs 15 Lakh in return for a sub-10% minority stake. The program will be launched from January 2016.

India has one of the largest education systems in the world with a network of more than 1 million schools and 18,000 higher education institutions. The education industry is expected to reach up to $40 billion by 2017 and will have reach over 1.2 billion people.

Rishi Kapal, CEO, Edugild said, "This program will ensure that we create exceptional entrepreneurs in the education and knowledge management sector. India’s education technology space has the potential to create multiple unicorn companies and Edugild will lead the way."

Sunil Karad, executive director, MIT Group of Institutions said, "The purpose of starting this programme is not only to provide conducive environment to EdTech start ups , but to move a step ahead and enrich them with necessary business , funding and regulatory advice "

Source: BS


By: Silky Malhotra

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