Risers Accelerator to shortlist 200 startups 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 startups into feasible and profitable businesses".

New Delhi: Risers Accelerator, a newly-launched platform that aims to provide financial, infrastructural and knowledge support to young entrepreneurs on Wednesday said it would shortlist 200 startups 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 startups into feasible and profitable businesses".

The new startup 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 startups across the country to support and nurture them.

"In case a startup fails to raise funds by its own, Risers Accelerator will invest up to Rs 50 lakh per startup," 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 startups, the statement added.

(Inputs from PTI)