Mangaluru: TiE Mangaluru has selected eight startups from more than 80 applications for the first cohort of K-Combinator, a 16-week acceleration programme set to begin in Oct.The selected startups have either a proof of concept (PoC) or a minimum viable product (MVP), TiE Mangaluru founding president Rohit Bhat said. “This is not for idea stage,” he said, adding that the programme would focus on mentoring, go-to-market strategies and preparing founders for investment.The startups were selected based on factors including the quality of the founders, the idea, stage of the business and size of the potential market. Bhat said the first cohort was initially planned for six startups, but eight were selected owing to the quality of the pitches. The two best startups in every cohort will be eligible for a Rs 10 lakh grant.K-Combinator will have three cohorts a year, with each followed by a demo day. The programme is an advanced version of TiE Nurture, which TiE Mangaluru had earlier run for startups in the region.TiE Mangaluru vice-president Suyog Shetty said around 80 registrations were received. The cohort included startups working on artificial intelligence and deep-tech areas such as drones, marine engineering and converting waste into fuel.The programme will also provide a pathway for startups seeking investment from Silicon Beach Angels (SBA). Prashanth Aroor, founding angel of SBA, said K-Combinator was intended to turn promising ideas into investable businesses by helping founders refine their business plans and prepare for investment.TiE Mangaluru has been selected to drive Karnataka’s first K-Combinator, a govt-backed accelerator under Beyond Bengaluru Mission and LEAP initiative, focusing on startups from coastal Karnataka.
