TiE Pune’s Nurture becomes country’s largest virtual accelerator

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Published: February 14, 2020 4:20:35 AM

ExtraaEdge Technology Solutions, an automation and customer-relationship management platform for the admissions and marketing at educational institutions, recently secured $700,000 in a seed funding round from Indian Angel Network, Sprout Venture Partners and TiE Pune Angels.

Nurture is a free nine-month mentoring programme by TiE charter members and this was the eighth year of the programme.

TiE Pune’s Nurture has become the largest virtual accelerator in the country with the number of start-ups impacted crossing 150. Starting this year, TiE Pune is looking to expand to smaller cities across Maharashtra, Madhya Pradesh and Gujarat. This April 2020, around 50 start-ups will be graduating from Nurture Accelerator. These were selected from 400 applicants of Pune, Mumbai, Nagpur, Hubli and Surat.

“Eight years ago, we had only four companies graduating and this year, it will be 50, indicating an exponential growth in the volume of entrepreneurship,” Ravi Nigam, president, TiE Pune, said. The emergence of three unicorns — Dhurva, FirstCry and Icertis — from Pune has added to the buzz in the start-up ecosystem, Nigam said.

Vineet Patni, senior charter member and chair, TiECON Pune 2020, said they would in the next one and a half months go to Kolhapur, Satara and Sangli, followed by Nagpur, Amravati, and Aurangabad and reach out to start-ups there and handhold these to move to the next level. “The accelerator will also go to Surat, Indore and Bhopal,” he said.

Nurture is a free nine-month mentoring programme by TiE charter members and this was the eighth year of the programme. Nurture alumni companies have raised significant funding. Vivek Gupta, charter member, TiE Pune, said they help start-ups create a sharply-differentiated strategy for each business, coached by seasoned industry veterans and get exposure to the best angel networks and venture capital’s supporting start-ups.

ExtraaEdge Technology Solutions, an automation and customer-relationship management platform for the admissions and marketing at educational institutions, recently secured $700,000 in a seed funding round from Indian Angel Network, Sprout Venture Partners and TiE Pune Angels.

GigIndia, a technology platform that helps find on-demand part-time workforce, recently raised a second angel round of funding from technology industry veterans including former TCS’s CEO S Ramadorai. Moonshine Meadery, among Asia’s first dedicated mead-maker, has raised an undisclosed amount in two rounds of funding from HNIs in 2018. All of these were part of the Nurture programme.

GigIndia founder Sahil Sharma said a rapid and vast learning helped us understand their own potential a lot better because of which we scale their business rapidly and get repeat business consistently from marquee customers. Moonshine Meadry founder Nitin Vishwas said they incubated their idea in TiE Pune’s Nurture programme in 2017 and the mentorship received during the programme helped lay the foundation of Moonshine. These success stories will be showcased at TiECon be held on April 17 and 18 in Pune.

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