The launch of the first cohort of the IMPunjab (Innovation Mission Punjab) accelerator programme was announced by Punjab Chief Minister Bhagwant Mann. There are 16 Punjabi startups in the cohort.
The IMPunjab accelerator is a programme that works with companies in many industries and will give 16 startups INR 3 lakh in trial capital. The shortlisted firms will receive three months of assistance and mentoring from the accelerator before being showcased to investors on a demo day in the second week of December. For about three months, “all startups will take part in the accelerator programme.” Therefore, committed support will last for three months before handholding support kicks in.
“The specific agenda of handholding here is fundraising and connecting startups with investors,” said Abhishek Purohit, head of the IMPunjab accelerator programme.