Indian entrepreneurs Yatin Thakur, Upasna Dash and Arjita Sethi, on Thursday, launched a virtual incubator programme, Indiarath.
The sector and stage agnostic incubation programme will work with over 100 startups across the country. Participating firms will be matched with 50 mentors across companies such as Google. Amazon, Facebook, Microsoft, Silicon Valley Bank, Morgan Stanley, Crisil, Paytm, OYO, Cisco, Akatsuki Inc and Blume Ventures among others.
“Depending on the goal set by the startup, we will match them with the right mentor who will be available for one-on-one mentorship. Each startup will be assigned three to four mentors,” Upasna Dash, cofounder at Indiarath and CEO at Jajabor Brand Consultancy said.
The six-month-long programme, which begins in July, will upskill entrepreneurs and provide access to global markets.
“We will be backing companies with a minimum viable product and let them define the goal for the next 24 weeks as part of the programme. Since it is a virtual program, we are using online tools so that mentors or coaches can access information on financials and other details of the company,” Yatin Thakur founder at Indiarath and managing director of Global Entrepreneurship Network in India, said.
The programme will initially charge a fee will not take equity or invest in companies in the cohort. “To cover the logistics, technology tools and other costs, we will be charging an initial fee. However, we are not monetising the program yet,” Thakur said without disclosing the amount.
Despite the slowdown and pitching and mentoring sessions moving online for Angel syndicates and early stage incubator programmes have seen portfolio companies raising equity rounds. Mumbai headquartered Venture Catalysts has invested in 14 startups in 2020.