Sequoia Capital India has decided to conduct the third cohort of its startup accelerator program Surge online due to the novel coronavirus which has killed over 9,000 people and disrupted business worldwide, said a person aware of the matter, requesting anonymity.
A Sequoia spokesperson confirmed the same- “The Surge 03 program will be moving completely online. All speaker sessions, office hours and deep dives with founders, speakers and mentors will be conducted remotely”
“There will be no change in the content and speakers for Surge. The sessions are being designed to ensure we continue to foster a sense of community and encourage inter-geo collaboration amongst founders,” the spokesperson added in a statement. The third batch starts on April 13, 2020.
Surge is also the second international accelerator program to go remote after Silicon Valley’s Y-Combinator said its program and Demo Day, where companies pitch to venture capitalists, will be held online.
Surge is a 16-week program for startups in India and Southeast Asia, where startups receive company-building and cross-border support, along with $1-2 million in capital from Sequoia, besides co-investments from other investors. It is headed by Rajan Anandan, Google India’s former head.
Its first two editions were held in April and October 2019. Startups from these batches so far include small-business-accounting firm Khatabook and education firm Doubtnut- which have already closed multiple funding rounds since their stint with Surge.
Entrepreneurs argue that having online sessions is not the same as physical networking and product-building lessons.
However, “The (Surge) team will use a number of online tools to ensure we find the best possible mix to maintain the quality of engagement and interactions that the program is known for. With no travel, founders will also get increased time in between sessions to focus on their business, which is crucial at this time,” the statement said.
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