The United States Embassy on Thursday announced the launch of the Nexus Startup Hub at the American Center in New Delhi.
The goal of the program is to help support a dynamic ecosystem for innovative Indian startups through the sharing of American best business practices in entrepreneurship and incubation.
To date, 20 startups have completed the intensive, 10-week pre-incubation program and nine have been selected for long-term incubation.
The third cohort of the pre-incubation program began at the end of January.
"I have been to a lot of other incubators, but what sets Nexus apart is that they really deliver," Cheif Executive Officer (CEO) of Docturnal Arpita Singh said.
The first is a program that will provide training, mentor, and networking opportunities specifically for female entrepreneurs throughout India.
This women-focused program is designed to support and empower women with entrepreneurial interests who are currently studying at Indian universities to overcome barriers and become future leaders in India's startup sector.
In addition, the Embassy announced South Asia Connect at Nexus, a new grant provided by the State Department's Bureau of South and Central Asian Affairs.
The grant will support the expansion of Nexus' offerings to include startups in Bangladesh, Bhutan, Nepal, and Sri Lanka.
"The response to the Nexus program has been overwhelmingly positive and we have already seen some great results from our first two graduated cohorts of startups," said the director of Nexus Erik Azulay. "The Nexus team is excited about engaging with the innovation ecosystems in Bangladesh, Bhutan, Nepal, and Sri Lanka and working to set up the same kind of active network we are building here in Delhi."
Nexus is run in partnership with the IC2 Institute at the University of Texas-Austin and has brought in as advisory board members some of the biggest names in the Indian innovation ecosystem.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)