The India Internet Group (IIG) is a new startup accelerator which is announcing its public launch today. It will target startups that focus on solving problems in India, but in order to do that it will also try to connect entrepreneurs in India and the US.
To that end IIG’s new venture competition is aimed at US-based entrepreneurs who have innovative ideas for mobile or internet businesses in India. The group says it wants to ‘facilitate cross-pollination of ideas’ between the two countries, and help those interested in moving to India overcome the transitional difficulties. Entrepreneurs who are selected will receive funding of up to $150,000, as well as office space, access to mentors and legal advisors.
Founding partner Anirudh Suri explained in the announcement:
We’re super excited to help bridge the entrepreneurial ecosystems of India and the U.S., and germinate the seeds for the inevitable Internet revolution in India… Several exciting, large internet-focused businesses with innovative business models will likely be built in India in the coming years and The India Internet Group wants to play an active part in this transformation by both investing in startups and incubating innovative startups.
The group and their partners have already invested in a few companies, and hopefully we’ll see that number grow larger soon. Their approach of trying to spark innovation by bridging the US-India gap is an interesting one, reminiscent of cross-border initiatives like Japan’s Tofu Project, or events like the Regional Entrepreneurship Summit in Bali.