Asha Jadeja, an influential Silicon Valley-based venture capitalist, is pledging $1 million in seed funding for start-ups in the Indian Institute of Technology Start-ups accelerator program.
“This seed fund for IIT Startup Accelerator is part of a larger MJF initiative called Exponential India,” Jadeja said in a statement. “EI is launching several awareness campaigns within India aimed at supporting economic growth and globalization as well as re-energizing public policy towards foreign investment.”
Previously, the Indian American VC has invested in over 100 start-ups including high-profile public companies such as Google and PayPal.
Launched in 2018 by Monishi Sanyal, alumnus of the prestigious Indian Institute of Technology, IIT Startups is a unique non-profit accelerator program in the San Francisco Bay Area, a release said.
Jadeja, founder of the non-profit Motwani Jadeja Foundation, an ongoing sponsor, has allocated $1 million for direct investment in promising IIT Startups portfolio companies.
The partnership with MJF gives these portfolio companies access to this capital during their fundraising endeavors. As an entrepreneur herself, Jadeja’s philanthropic work has championed “exponential growth” designed to ignite young entrepreneurs to become disruptive change-makers, the release notes.
IIT Startups provides free mentoring, coaching, and workshops to entrepreneurs to help them scale their companies.
All IIT resources are available on the IIT Startups website free of charge. Past IITians have co-founded more than 300 companies like Sun Micro, Google, Juniper Networks, Webex, Cirrus Logic, the release said.