At a time when the media and entertainment sector is facing a huge business turmoil due to the pandemic, country’s leading multiplex company PVR has partnered with India Accelerator(IA) to boost innovative startups operating in the media and entertainment space. As part of the partnership, PVR and IA will jointly offer a sixteen-week long business accelerator programme to a cohort of 5 to 7 seedstage startups operating along with supporting them with funding.
The selected startups will get access to PVR-IA’s technological and business infrastructure, mentoring, Besides, the selected startups will get network-building opportunities – culminating in a Demo day attended by Corporates, VCs, Mentors and other partners including external investors.
Sharing his views on the partnership, Mr Ashish Bhatia, Founder and MD at IA, stated: “In continuation with our commitment to strengthen and tap-into the nation’s startup ecosystem, we always look forward to innovative ideas. There are lots of unexplored and unidentified gaps in the movie watching experience right from selecting the right show and ticket booking to watching cinema and coming back.”
The partnership is looking for startups working in the field of Cinema/theater based gaming,events, class rooms, Movies based short videos, planning, scheduling and delivering, quizzes, conferences booking gaming platform to enhance engagement with actors, fans and community, cinema-based shopping, in video advertising and customer analytics, among others.
“Businesses need to pivot in this changing times. It’s even more important for the media and entertainment sector. PVR, through the accelerator program, is in search of new ideas or technologies which can improve and revolutionize the movie going experience, making it unique and friction-less. We need to add value to our capacity enhancement along with optimizing our resources in this challenging times. Keeping in view the track record of India Accelerator in
flourishing meaningful startups, we are looking forward to a strong positive outcome:” said Mr. Kamal Gianchandani, Chief Strategy Officer, PVR.
In order to successfully run the programme, both the parties have agreed to appoint one Selection & Execution Board consisting of representatives from both parties. The board would be responsible to carry out &manage the milestones set for the vertical such as Onboarding & acceleration of startups, Mentoring board formation, Ensuring startups meeting the pre-set
growth milestones, Marketing & promotion of the Vertical and Screening & sourcing of right startups among others.
India Accelerator has a portfolio of more than 50 startups with the combined valuation of startups reaching over $100 Million. 80% of the startups are still active and two-third of the startups have received follow on funding by the investors. Moreover, it is one of the fastest-growing accelerators in Asia.
India Accelerator’s structured program that can bring the building blocks for a startup under one roof – the much-needed mentorship, the network, the technology, the peripheral services (like legal, financial etc) and last but not the least, the capital. It is the only GAN partnered, mentorship-driven, program in India.
PVR is the largest and the most premium film exhibition company in India. Since its inception in 1997, the brand has redefined the way entertainment is perceived in the country. PVR currently operates a cinema circuit comprising of 845 screens at 176 properties in 71 cities (India and Sri Lanka), serving over 100 million patrons annually. PVR offers an array of formats in the premium screen category, which stands at 4 screens of Director’s Cut, 37 screens of Gold Class, 04 screens of Sapphire, 09 screens of IMAX, 18 screens of 4DX, 08 screens of P[XL], 13 screens of Playhouse and 01 screen of PVR Onyx across the country.