PwC, one of many Large 4 accounting corporations, is launching an accelerator initiative in India. On March 3, PwC India launched the ‘Rising Tech Startup Problem’ to help promising startups in blockchain, house, AI, and different sectors. Late-stage startups which have secured Collection A or B funding are eligible to use, getting access to business coaching and mentorship. Via this accelerator program, PwC India goals to discover improvements rising from Indian startups throughout sectors.
The ‘Rising Tech Startup Problem’ particularly invitations functions from startups in Web3, blockchain, AI, house tech, information analytics, and spatial actuality.
“In case your startup is re-defining buyer interactions, unearthing new progress paths, producing game-changing insights from information, or turning conventional enterprise fashions on their head, we wish to hear from you,” the announcement famous.
Key Particulars Concerning the Programme
Startups desirous about becoming a member of the initiative can apply between March 5 and Might 5. Fifteen startups can be chosen for the three-month program and all candidates have to be registered in India.
“The 15 chosen entities can be assigned a mentor from PwC to work with them by this era. PwC will make investments up to 25 hours of pro-bono consulting help and likewise actively work with you to community and construct entry,” stated the Kolkata-headquartered India unit of PwC in its assertion.
After functions shut, 60 contenders can be shortlisted to pitch earlier than a panel of PwC consultants, with solely 15 making the ultimate choice.
All through the programme, chosen startups will profit from custom-made workshops, one-on-one mentorship with business consultants, and demo days to reinforce their business information.
PwC India acknowledged that members will obtain constructive suggestions on their initiatives, together with in-depth steering on danger administration, useful resource optimization, and buyer acquisition.
“It’s essential to fill in an software kind and connect supporting paperwork the place wanted. Info such because the identify of the entity, the place it is registered, what business/tech you’re centered on, your funding stage and so forth. Obligatory proof of documentation must be connected for some questions on the shape,” the corporate stated.
Alternative for Web3 Startups
Regardless of regulatory challenges, the Web3 ecosystem has skilled vital progress in recent times. In line with a report by Hashed Emergent, India’s share of the worldwide blockchain developer pool surged from Three % to 12 % between 2018 and 2023.
Throughout final 12 months’s India Blockchain Week, leaders from India’s Web3 and AI sectors emphasised the position of accelerator packages in driving sustained innovation in these rising applied sciences.
Up to now, Bitget and CoinSwitch had launched funding and accelerator programmes focussed on India’s Web3 ecosystem.
Whereas India has been cautious about adopting cryptocurrencies, it has persistently proven curiosity in exploring blockchain expertise. In December 2023, former Union Minister of State for Electronics and Know-how, Rajeev Chandrasekhar referred to as Web3 the way forward for Web as we all know it immediately.
To foster blockchain innovation, India has established a Centre of Excellence (CoE) in collaboration with MeitY, Software program Know-how Parks of India (STPI), the Authorities of Haryana, Padup Enterprise Non-public Restricted, IBM, Intel, the World Blockchain Affiliation (GBA), and the Basis for Innovation and Know-how Switch (FITT). This initiative goals to determine and help promising blockchain startups.
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