Two-year-old Gurgaon-based technology startup accelerator GSF is now launching Digital Media Labs which will train and fund 10 digital media and advertising tech start-ups in 2015. Spread over four months, start-ups from each of the two batches every year will spend time in India, the Silicon Valley, Los Angeles, New York and Singapore.
Digital Media Labs, will follow the same two-stage investing structure as the M-Accelerator wherein first GSF will pump $40,000-50,000 into each of the startups and then pick up about 25-50% in the venture out of the seed round in select startups.
Digital Media Labs is a platform for disruptive start-ups to get access to global mentoring, networks and funding opportunities, GSF Founder Rajesh Sawhney said.GSF Accelerator has funded 33 start-ups across three batches since its inception in 2012. GSF's current portfolio in the space includes Gigstart, a marketplace for performing artists which also has Snapdeal Co-Founder’s Kunal Bahl and Rohit Bansal as angel investors, Viki which is a crowd-sourcing platform for video subtitling, among others. Viki was sold to Japan's Rakuten last year. Flintobox and Wizenworld are some of the other GSF startups in the media and ad tech space.
Recently, Gigstart has received seed funding in excess of $200,000. The investors include Indian Dream Capital (Mauritius), Rajesh Sawhney (GSF), Rohit Bansal & Kunal Bahl (Snapdeal), Narendra Singh Rawat (FG Wilson), TA Venture Holding Limited, Roshan Abbas and Anand Chandrasekaran. The fresh round of funds will be channelised by Gigstart into four broad domains - technology building, content creation and promotion, marketing and talent acquisition.
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