The Wall Street Journal’s Venture Capital Dispatch blog provided some high profile coverage yesterday of recent changes at a seed accelerator program in India. Morpheus Venture Partners (which had been on my list of global accelerator programs) has rebranded to The Morpheus and has raised $250,000 for its ongoing acceleration program. It will be accepting about 10 new ventures in March 2010 (apply by March 10th) and providing each with $10,000.
A couple of interesting observations from the article:
- The firm isn’t focused on internet software — “the firm has looked at Indian consumer companies, where the growth has been strongest.”
- The program has been adapted somewhat — “Morpheus” incubator program does not take place in one location. Instead it is conducted remotely, with frequent Skype and email sessions and visits from Morpheus partners for day-long face-to-face sessions. However, the firm does intend to hold Y Combinator-style in-person events for portfolio companies to pitch to investors.”