Kyron --another Indian accelerator announced
Indian technology veteran Lalit Ahuja, Swiss VC John Cook, and French/American VC Larry Glaeser are planning to launch a new accelerator in India, called 'Kyron' according to an article in livemint.com . They're putting a lot of money into Kyron --it looks to be one of the better funded accelerators anywhere. For example, the 10 companies selected for the first cohort each will receive $100,000 in seed funding plus the usual accelerator mentoring, facilities and so forth. Kyros will take up to 10% equity in the startups.
This adds to a recent flurry of announcements (at least 4 in the last 10 days) of new accelerators on the subcontinent reported here and elsewhere. This has raised concerns in the blogosphere that India is poised for an accelerator bubble. Larry Glaesser (one of Kyron's founders) posted an article this morning arguing (surprise) that India is a long way from being at the bubble stage. His key point was that accelerators are at a very early stage in India so India is basically catching up with what's happening elsewhere.