Pune Inc: India Accelerator’s co-working space in Baner to boost Pune startups

Recognising this, India Accelerator (IA), a seed-stage investor and accelerator, has expanded to Pune’s Baner area by offering a vibrant co-working space and a comprehensive support system to empower local entrepreneurs.

About India Accelerator

Started in 2017, India Accelerator is a startup accelerator that focuses on providing mentorship, funding, co-working spaces and access to a large network of investors for early-stage startups, helping them scale their businesses globally.

India Accelerator (IA), a seed-stage investor and accelerator, has expanded to Pune’s Baner area by offering a vibrant co-working space.

“IA invests through the Securities Exchange Board of India (SEBI)-approved Alternative Investment Fund (AIF), which is a privately pooled investment vehicle that collects funds from investors to invest in various asset classes. The investment seed capital ranges from $30,000 to $1 million in various sectors such as artificial intelligence (AI), health tech, fintech, agritech, esports, deep tech, and direct-to-customer (D2C) among others. Apart from this, we are also the first Global Accelerator Network (GAN)-partnered startup ecosystem in India,” said Shivokt Chitransh, Head of Sales and Growth, IA, Pune.

Funding to market access: Challenges for startups

According to NITI Aayog, Indian startups face issues such as limited access to funding, talent acquisition difficulties, infrastructure gaps, market access issues, and customer acquisition and retention problems impacting growth and potentially leading to talent drain.

Started in 2017, India Accelerator is a startup accelerator that focuses on providing mentorship, funding, co-working spaces and access to a large network of investors for early-stage startups, helping them scale their businesses globally.

“To keep the entrepreneurial talent within India, we began from Gurugram and now have expanded to Noida, Ahmedabad, and recently to Pune. In 2024, we have invested over Rs 100 crore and added seven such centres with 2,200-seating capacity and aim to add over 5,000 new seating arrangements in 2025 with an investment of around $8 – $10 million through our Joint Venture ‘Finvolve,’ its three AIFs and International Financial Services Centre (IFSC)-approved Gujrat International Finance Tec-City (GIFT) fund,” Chitransh said.

As per the Economic Survey of Maharashtra 2023-24, as of March 31 last year, the state leads with the maximum number of startups in India with a 19 per cent share in startups recognised by the Government of India, 21,105, and employs over 2.37 lakh individuals through them. This highlights the potential for emerging startups in the state, with Pune being at the forefront.

IA’s Pune facility

“To address the challenges faced by startups, we are investing $500,000 and are offering a 20,000 square-feet co-working space with 315 seats at the facility in Pune’s Baner. It includes facilities like conference rooms, private cabins, high-speed internet, IT support, housekeeping and equipped eating and break-out zones among others. We are about to expand another 20,000 square-foot space at the same facility by January end. Beyond physical space and traditional incubation, India Accelerator will provide its mentorship and guidance through the facility,” said Chitransh.

“Beyond physical space and traditional incubation, India Accelerator will provide its mentorship and guidance through the facility,” said Chitransh.

“IA’s programme connects startups with seasoned entrepreneurs, industry leaders and investors through mentorship sessions, workshops, and networking events. We have experts like Lt. General Ani Chait, Hariprasad Hegde, Praveen Bhadada, and Rajive Gulati among others to guide the startups. This curated programme would be valuable for knowledge transfer and navigating startups through market complexities,” added Chitransh.

Pune’s potential

Thousands of startups are based in Pune and the city is also home to unicorns like Chainlink Labs, FirstCry, Xpressbees, Rebel Foods, MindTickle and others. However, according to a survey by startup data platform TheKredible, Pune witnessed a decrease in funding of around 65-70 per cent in 2023.

“The reason to expand in Pune is its high potential. It has a large pool of skilled talent, top academic institutions, established IT companies, a supportive government ecosystem, cost-effective operation compared to Mumbai and Bangalore and a growing presence of a diverse industry base which is rarely seen in a single city across India,” said Chitransh.

For entrepreneurs like Madhuri, IA’s arrival in Pune represents hope. “It’s not just about having a nice coffee,” she says. “It’s about being part of a community that understands startup challenges and has the resources to help overcome them.”