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.
While 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 first program is one that will provide training, mentorship and networking opportunities for india’s female entrepreneurs, specifically. The program is designed to lend support and empower women that hold entrepreneurial interests while they study at universities in India. It seeks to help them overcome barriers and become leaders in the future of India’s startup ecosystem.
Moreover, the Embassy also announced South Asia Connect at Nexus – a new grant by the State Department’s Bureau of South and Central Asian Affairs. The grant is to support Nexus’ expansion and inclusion of startups in Nepl, Bhutan, Bangladesh and Sri Lanka.
Erik Azulay, director of Nexus 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.” He further added, “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.”
Nexus operates in partnership with the IC 2 Institute at the university of Texas-Austin. They have introduced big names to the Indian innovation ecosystem including American Chamber of Commerce, the Indus Entrepreneurs (TiE), the Indian School of Business (ISB), the Federation of Indian Chambers of Commerce and Industry (Ficci) and the Indian Angels Network (IAN) as advisory board members.