Silicon Road is the latest early-stage venture fund and accelerator to join the tech community, and it's holding open applications for its first U.S. retail cohort.
The new accelerator, headquartered in Atlanta with operations in Mysuru, India, is focused on investments and building innovation in the retail and e-commerce space through startups, research and advisory services. Leaders behind the accelerator are gearing up for an international conference in May 2020.
“By bringing together investors and startups, Silicon Road is able to empower research and technology advancements for the future of retail technology,” Sid Mookerji, founder and managing director of Silicon Road, said in a statement. “We are collaborating with retailers, startups, academia and investors to provide retail technology startups access to customers, distribution and new markets to leverage entrepreneurial, retail industry and transaction expertise.”
In July 2019, the accelerator selected nine retail and food tech startups for its first cohort in Mysuru. The U.S. cohort is slated to kick off in fall of 2019. Silicon Road also works with local university Georgia Tech to sponsor retail research and intellectual property. Retail partners and portfolio companies within the cohort will have access to Georgia Tech's resources, including labs, prototype facilities and talent.
"The object is to source high-quality ideas," Mookerji told Atlanta Inno.
Mookerji, whose experience in retail propelled him to launching Silicon Road, also serves as the CEO and co-founder of Silver Spirit Global LLC, a company that operates tech parks in India and the U.S. In 1994, he founded Software Paradigms International Group, LLC, which provided IT services and a suite of products for retailers, including supply chain management and analytics. The company was acquired by Cognizant Technology Solutions in 2018.
Mookerji said they are looking for startups that have a product ready and revenue. The accelerator has already invested in companies from seed sage all the way up to Series B.
"We want to invest in as many as 10 startups by Q1 as next year," he said. "We have invested in three already (and are) looking for more to invest in."
To apply for the Silicon Road accelerator, click here.
