Six startup veterans have teamed up to set up Escape Velocity Accelerator
In recent years Bangalore has emerged as one of the region's hottest destinations for budding entrepreneurs who have set up more than 5000 companies in the last three years. Escape Velocity Accelerator (EVA) is an addition to the ecosystem to boost the prospects of entrepreneurs in the cutting edge areas of bioscience, IT and engineering.
" We launched this for-profit company to handhold entrepreneurs to guide and accelerate their ventures to their logical conclusion in the shortest possible in March 2014," said Dr Anand Anandkumar, a biotech entrepreneur and a promoter of EVA. " We are already mentoring three exciting companies through the process and evaluating 5-6 more for bringing them into our network."
EVA works in a collaborative model with the six co-promoters bringing their organizations and networks into the system for collective use of the entrepreneurs in Bangalore and Singapore. A Tokyo-based associate has also joined the fray to extend the reach for the entrepreneurs into the Japanese market.
C-CAMP, a Bangalore-based wetlab in the public arena provides wetlabs for EVA. Jed-I, an engineering labs provides access to entrepreneurs to access IT and engineering skills and mechatronics. EVOMA, a new-age business incubators supplies office space and other physical infrastructure in Bangalore and Singapore. ESCO adds its supply chain and access in South East Asia and Japan to the entrepreneurs part of the network. Indian Institute of Technology, Madras has opened its biomedical engineering labs to EVA.
Take the case of SKL Medtech, an established textile manufacturing company in Tirupur, Tamil Nadu. The company has developed a new range of medical textiles like a lightweight nanomaterial based shirt to replace heavy lead-reinforced jackets used in hospitals that use highly radioactive diagnostic machines. EVA is supporting this company to mentor the developers, test the product, help in production, get regulatory approvals and then speed up marketing.