Tech startup Accelerator, TLabs announced its 7th Batch which kicked-off in March, on the heels of launching their second center in Bangalore. TLabs enters into its new phase of growth as they now invest $ 50,000 (INR 30 Lakh) for an equity stake of 8%.
The current ‘Fall 2015’ batch comprises of seven startups, each catering to its individual high growth marketspace. The application process for this batch under the new model saw an overwhelming response, with some very high quality startups being met over the selection period. According to Abhishek Gupta, Head of TLabs, “We selected this set of 7 startups from 700 applications, we were overwhelmed by the quality of the applications for this cohort, our selection process typically lasts 8 weeks but got extended to over 10 weeks”.
TLabs has now invested in 43 companies since their inception three years ago. “Our focus has mostly been on picking strong teams, with this batch we have included companies with initial validation. We realized in our journey that we were helping startups much more as soon as they saw some validations and so this batch we selected companies that have few customers and we are helping them scale, we have also hired a growth hacker in the team to help them out”, says Abhishek.
TLabs will be opening the applications for its next batch on 1st May.
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