ImpactAlpha, April 19 – Gray Matters Capital aims to accelerate companies using mobile apps to educate, build skills, help users earn a living and bridge gender gaps in education and workforce participation. Gray Matters says there are 980 million mobile device users in India. GMC Calibrator will select eight companies each year and plans to invest a total of $2 million, according to Deal Street Asia.
- Success looks like… Selected companies should target a user base of 1 million with at least 50% women, and offer an affordable product.
- Supporting growth… Participating companies will each get up to $35,000 to support mentorship in user engagement and mobile product strategy.
- Prize money… At the end of the six-month accelerator, the best performing company will be awarded $ 30,000. The second-placed firm will receive $20,000.
It won’t cost anything to participate and Gray Matters won’t take an equity stake in selected companies. GMC Calibrator is open to education startups and NGOs with a mobile app offering preK-12 education, or training in vocational skills, gig economy and future of work-related skills. Applications are open until May 5.
