European startup accelerator Spark10 opens second cohort

India’s first European startup accelerator, Spark10 has opened applications for its second cohort. The initiative was formed to bring global expertise with the vision of developing a network of over 500 mentors, investors, experts and achievers, who will commit their time and resources to help the startups and entrepreneurs grow fast.

The idea of Spark10 was conceived and designed by Atal Malviya, Founder and CEO along with Jon Bradford, Director, John Bradfield Centre, Cambridge, UK and Ex-MD of Tech Stars and Paul Smith, Head of Program, Dubai Future Accelerators and Co-founder Ignite100, UK.

The first cohort was held on 25th April 2016 where nine startups were selected out of 500+ applications and underwent a mentor-led 13-week acceleration program. The applications for Cohort 2017-A are already open. Each of the ten selected startups will be provided with Rs.10 lakhs of seed funding in return for 8% equity. The acceleration program is 13 weeks long and within this timeline, founders need to validate their business strategies, build and scale their operations before the final showcase in front of investors on Demo Day.

The intensive program pressurizes founders to perform and show results that are similar to what they would achieve in a 12 to 18-month period. The methodology and process are defined and developed in conjunction with the best practices and experiences of accelerators that have proven strategies over the past half-decade.