WAVE OF INCUBATION: The surge of edtech incubators reached the shores of India last week when Pearson's Affordable Learning Fund (PALF) and Village Capital announced a three-month incubator "with a twist." Code-named "PALF-Village Capital: Edupreneurs," the incubator is looking for up to sixteen local teams in India which "should already be fairly advanced and have a working product," said Katelyn Donnelly, executive director at PALF.
Starting in September, the twelve-week program offers a series of mentoring, workshops, and peer review sessions. (Mentors will be selected after participants are finalized so that they meet the cohort's needs.) At each workshop, participants will refine and pitch business ideas, and rank each another based on six criteria. At the end of the program, which culminates in a Demo Day in front of investors, the top two rated teams will each receive $75K. (The others may have to pitch a bit harder later on.)
It's worth noting that the incubator doesn't cover any costs for the duration of the program, so participants are expected to pay out of pocket for travel to and accommodations for the workshops, which take place in different cities.
Applications are due by August 9. Companies that haven't received institutional funding "are favored," though they should also have plans to "raise more than $500k within the next two years."