The US Embassy announced the launch of Nexus Startup Hub at the American Centre in New Delhi. Its aim is to support a dynamic ecosystem for innovative Indian startups by sharing best practices in business and entrepreneurship and in incubation.
The Nexus Incubator offers selected startups unparalleled access to networks of industry and government partners, training from the top commercialization experts around the world, an extensive mentor network as well as access to both private and public fund managers specializing in supporting startups.
The third cochort of the pre-incubation program began at the end of January, according to a report by ANI, 20 startups have completed the intensive 10-week pre-incubation program till date. From which, close to half have been selected for long-term incubation.
The programme is aimed at helping and supporting the dynamic startup ecosystem in India. It is meant for the innovative Indian startups and will also disseminate the best American business practices in entrepreneurship and incubation.
Speaking at the launch, American Ambassador Juster said,
“Nexus began operations in March 2017, two cohorts of ten startups each have completed a ten-week intensive, pre-incubation program. Nine of those startups have been selected for long-term incubation.”
The grant will support the expansion of Nexus’ offerings to include startups in Bangladesh, Bhutan, Nepal, and Sri Lanka.
The Executive director Nexus Erik Azulay said
“The response to the Nexus program has been overwhelmingly positive and we have already seen some great results from our first two graduated cohorts of startups. The Nexus team is excited about engaging with the innovation ecosystems in Bangladesh, Bhutan, Nepal, and Sri Lanka and working to set up the same kind of active network we are building here in Delhi.”
The announcement was followed by another announcement from the Embassy that declared South Asia Connect at Nexus, a new grant provided by the State Department’s Bureau of South and Central Asian Affairs.
The Nexus projects in India are expected to impact on financial technology, education and other fields. Nexus is run in partnership with the IC2 Institute at the University of Texas-Austin and has brought in as advisory board members some of the biggest names in the Indian innovation ecosystem.
Nexus @ American Center
24 Kasturba Gandhi Marg
Near Barakhamba Metro Station
New Delhi 110001