Silicon Road Calls for Application for Its First NUMA-Powered Accelerator Programme

US-based retail only VC firm - Silicon Road, has opened applications for its first season of the accelerator programme in India. The inaugural cohort will be powered by NUMA, a France-based international innovation hub and startup accelerator.

Interstingly, the Silicon Road Accelerator powered by NUMA programme will be based in Mysuru, Karnataka. The programme is designed to be an innovation lifeline for retailers who don’t have the resources to sustain a meaningful programme on their own, allowing them to invest in and at the same time, own the technology, which will power future profitability.

Sid Mookerji, founder and former CEO of Software Paradigms Infotech / Softvision (now acquired by Cognizant Technology Solutions), which was Mysuru’s first software 100% EOU, founded the Accelerator. He also founded Silver Spirit Global LLC, which operates incubators and technology parks in the US and India. The Accelerator programs leverage three primary hubs of innovation in the US, India and Israel to give the most revolutionary ideas in food and retail a global platform.

Sid Mookerji said that Silicon Road is for entrepreneurs with transformative solutions that address the most pressing technology needs of the retail and food industries. Like SPI did two decades ago, he expects Silicon Road to once again be transformational for startups and for the city of Mysuru.

About The Accelerator Programme:

The four-month-long acceleration programme is aimed at helping startups to ascend from a “Minimum Viable Product” (MVP) Stage to an investment-ready stage.

Silicon Road Accelerator powered by NUMA is a 4-month startup acceleration programme. It provides world-class funded support and infrastructure for startups, particularly in food & retail tech to fast-track the growth with a tailored programme, mentoring and network.

Funding and Support on cash burn: Silicon Road invests an amount of money (INR 25L) in all startups joining the program. Startups will also get access to the €700k worth of perks and to international & local investors for fundraising support with a further round of funding opportunity from Silicon Road for eligible startups during or after the program.

Access to international & local networks around the Retail & Food Tech industries: An actionable network is a key feature of any startup program. The selected startups will also be introduced to the local & international network of food and retail tech companies, mentors, research infrastructure, industry experts, founders, partners & foreign official delegations. This will enable the startups to build their own networks.

Tailored programme to accelerate the growth of start-up: In the beginning, start-ups will be taken through multiple bootcamps on the various core functions of a business including Design, Technology/Product, Growth Hacking, etc. to help startups strengthen their product and build a business strategy. At the end of these bootcamps, we will be helping each startup to create their OKR/roadmap with clear KPIs and in the next 3 months, we will support them on the execution of this roadmap.

Quality mentoring by some of the best mentors & in-house experts: The startups will be surrounded by some of the best in-house experts and introduced to the right mentors. Besides the team, an Entrepreneur-in-Residence and Growth Hacker-in-Residence will support the startups to execute their product and growth strategy.

Free office space and infrastructure in Mysuru: The selected startups (at least one of the founders) will be working out of the Silicon Road campus and they will also get a globally benchmarked office infrastructure at Silver Spirit Tech Park for 6 months in the royal city Mysuru.      

The board of directors of Silicon Road also comprises Sophie Mookerji and Stephen Martis, who will be funding and leading the initiative.

Silicon Road will invest an initial seed amount of money (up to INR 25 Lakhs) in all startups joining the program. Startups will also get access to the €700k worth of perks.