Data Science Investment Counter —Funding raised by UK data science companies in 2018.
£ 5.640 Million

Startup factory EF to launch Bangalore office

Entrepreneur First (EF), the London tech-start-up-factory, is opening an office in Bangalore as a part of its international expansion.

The company has been growing steadily in the past year, launching a Berlin office in January and a Hong Kong one in March.

Talking to Tech Crunch, EF co-founder Matt Clifford highlighted that although India has long been a prolific source of tech talent, it has often been on the exporting side of the industry. “It’s our chance to help reverse the brain drain.”

According to the Start-up Genome Global Startup Ecosystem Report 2018, Bangalore’s start-up ecosystem is valued at $19 billion (around £24 billion), with an estimated 1,800-2,300 active tech start-ups. “The past decade has seen it shift from a purely skill-based factory model to a more start-up mindset,” said Clifford, “there is a genuine interest in tech and an ability to attract highly skilled tech workers.”

During its bi-annual Bangalore program, EF will be providing cohort members with a monthly stipend of $2,500 as they develop their start-up ideas in the first three months. The company will also invest approximately $55,000 in each of the companies over the same timeframe.

EF said they will focus particularly on the development of defensible technology, AI, machine learning, and robotics, as well as any opportunities relating to deep tech consumer companies in India. The start-ups graduating from EF Bangalore will eventually pitch to “leading regional and global investors” at Investor Day in Singapore next July, together with counterparts from EF’s Hong Kong and Singapore programs.

EF is backed by tech giants such as Greylock Partners, Mosaic Ventures, Founders Fund, Lakestar Capital, and tech gurus like Reid Hoffman and Deep Mind founders Demis Hassabis and Mustafa Suleyman.

Notable alumni of the company include machine learning company Magic Pony, video-translating and former SHACK15 resident Papercup, and SHACK15 residents Headlight AI and Limbic.

SHARE THIS ARTICLE:
BY SHACK15

Co-working space and blog dedicated to all things data science.

Subscribe to our newsletter