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VCs Fund 'Off-the-Map' Science Startups
25 Mar
Summary
- Six startups chosen for unique, unproven ideas.
- Focus on science-led themes with long development.
- Funding ranges from $500,000 to $2 million.
Accel and Prosus have announced their inaugural joint cohort in India, selecting six innovative startups. These companies are noted for pursuing "off-the-map" ideas, tackling problems in areas with undefined markets and challenging progress metrics. The program specifically targets science-led themes such as healthcare, climate, space, and longevity.
The selected startups were chosen from over 2,000 applications, reflecting a commitment to backing ventures that operate outside conventional investment playbooks. Accel and Prosus are co-investing in each company, with investment checks ranging from $500,000 to $2 million.
This venture fund structure is designed to mitigate early dilution for founders, with a portion of capital deferred to a later stage. This model acknowledges that startups with long development cycles require time for breakthroughs rather than immediate, linear growth. Progress is dependent on achieving significant technical advancements.
