Subhash Chandra Foundation, founded by Rajya Sabha MP and Essel Group chairman Subhash Chandra, has launched Esselerator, a programme to mentor Indian startups and entrepreneurs.
In partnership with TiE Mumbai, Esselerator will look to co-develop and nurture early, growth-phase startups in the areas of media, media-tech, entertainment and ed-tech, the foundation said in a statement.
“Essel Group’s 90-year journey has been marked by a series of milestones driven by the entrepreneurial spirit. We had launched Subhash Chandra Foundation earlier this year to help budding entrepreneurs and educationists," Chandra said.
"Esselerator promises to identify and groom the next generation of thinkers and innovators who—through unique business models—will play a significant role in building the nation’s capacity,” Chandra said.
He said he has pledged Rs 5,000 crore of his family wealth towards philanthropic initiatives of the foundation.
Startups involved in IoT, artificial intelligence, machine learning, cognitive computing, virtual and augmented reality, blockchain, among others, that are willing to look at business opportunities in media, entertainment or education can apply, the foundation said.
“The media and entertainment space is fragmented and entrepreneurs face a number of challenges. Esselerator is a step towards nurturing the startup eco-system by getting corporates involved. The programme will allow us to create a more mature ecosystem," said Anand Desai, president of TiE Mumbai.