Endeavor Entrepreneur Naranya, a leader in innovative mobile communications technologies, has launched an accelerator program in Monterrey, Mexico, to help new start-ups get their business ideas off the ground. Launched by Naranya’s R&D subsidiary, Naranya Labs, the program is hoping to identify 75 worthy mobile development projects that will initially receive US$20,000 in seed funding along with free workspace and technical, business, legal and design advice. Companies will be eligible to compete for a second round of funding at the $200,000 level.
Naranya joins a number of later stage Endeavor Entrepreneurs who are moving beyond traditional mentorship and turning to a range of things, from venture capital to incubators, to support continued entrepreneurial innovation in their countries. Companies participating in the Naranya accelerator will have access to test their business ideas via Naranya platforms and relationships with leading carriers across Latin America reaching over 100 million mobile users.
The accelerator program will be managed by Rogelio Martinez, a former CIO of media group Reforma, who co-founded Naranya Labs with Naranya CEO Arturo Galvan. Martinez was recently interviewed by Startup Buzz and talked about Naranya’s interest in playing a role in a rapidly developing technology ecosystem in Mexico. “We are seeking to be an active part…” said Martinez, noting that the accelerator will be housed inside Naranya Labs to “create a breeding ground of fresh ideas that can be tossed back and forth between up and coming entrepreneurs and experienced Naranya employees.”
The first class of start-ups will begin this summer but will then move into a program of regular spring and autumn sessions.