As the Deshpande Center enters their fourth grant cycle, they just released the data on what happened with research teams that they have funded to date.
* 44 teams have been funded since 2002
* $4.9m of grant money has been awarded
* 9 companies have been formed
* $23m of angel and first round VC funding has occurred
* 7 other teams are forming new companies and actively raising money
This is an incredible hit rate – 20% of the teams have already started companies and 36% of the teams that received grants have either started or are starting companies. Congrats to all these teams, Charles Cooney (MIT Professor) and Krisztina Holly (Deshpande Center Executive Director), and Desh and Jaishree Deshpande who underwrote the program.
Arun Natarajan is the Editor of Venture Intelligence India, which tracks venture capital activity in India and Indian-founded companies worldwide. View sample issues of TSJ Media's Venture Intelligence India newsletters and reports.