iAccelerator is an IIM Ahmedabad initiative done in conjunction with Microsoft, Kuruvindum, NASSCOM and Kickstart.in bringing a unique opportunity for young developers to convert their ideas into reality.
The three-month Summer Camp is inspired by the success of YCombinator and the primary organizers behind the initiative, IIM Ahmedabad’s CIIE (Centre for Innovation Incubation and Entrepreneurship), aims to build a ‘few good products out of India’. The camp would comprise of of intensive monitoring of product development, mentoring by VC, business and technology experts. Once a product/prototype is developed, IIM Ahmedabad students shall work closely with the start-ups in commercializing the prototypes developed by the teams.
Participants will be given a monthly stipend of Rs. 8,000 (equivalent to about $200 /mo), internet connected computers, an office space, mentoring, networking and accommodation at IIMA. It’s pity that they don’t have much funds to even give the participants a reasonable pocket-money.