Bengaluru: The Indian Institute of Management Ahmedabad (IIM-A) graduate Abhishek Sethi and Prateek Behera of Birla Institute of Technology and Science, Pilani (BITS Pilani), have launched a $1 million fund and support college students’ start-ups.
Their Bengaluru-based venture, gradCapital on Wednesday said it would invest $25,000 in the 20 start-ups they pick over the next year.
gradCapital, supported by IIM Ahmedabad’s ‘CIIE.CO — The Innovation Continuum’, would host an eight-week, intensive course for companies founded and run by college students, it said via a statement.
“Apart from building a strong and sustainable structure for their company, these young entrepreneurs will leave with countless tools, crucial knowledge, a network of peers, mentors and investors, and funding of USD 25,000,” the statement said.
gradCapital is contemplating investing in 100 start-ups in three years. It has now opened the application process for its first cohort of start-ups.
“We genuinely believe in academic spaces. Entrepreneurship is a way to bring such strong ideas to life and create value for society. We are betting on such ideas,” Sethi was quoted as saying by news agency PTI.
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