Launchpad Advisory, an Indore based organization focused on fostering entrepreneurship and accelerator management company Applyifi have collaborated to launch Applyifi-Launchpad, an accelerator fund that will provide Rs. 75 lacs (USD 100,000) capital and deep-engaged mentoring to MVP and pilot-stage startups.
The accelerator fund may consider higher investments in some startups.
The Applyifi-Launchpad accelerator program is designed to help founders hit product-market fit and help raise follow-on capital. The 100-day program will consist of structured group learning sessions as well as startup-specific one-on-one interventions.
Speaking at the launch, Vishal Khandelwal, Partner, Launchpad Advisory and Managing Director of SS Global Group said, “As a business house based in Madhya Pradesh, we are keen to support entrepreneurs also beyond the metros. In addition to the initial capital via the program, we can support startups with follow-on capital and access to a large investor base as well. In effect, we want to make it easier for startups to access the resources required for them to scale.”
Applyifi Launchpad will support not just tech startups but any early-stage business that has the potential to create value. Prajakt Raut, Founder Applyifi said, “The Applyifi Launchpad accelerator will support any business that has the potential to create value. And hence, our model is geared to provide not just venture capital but venture debt and revenue-based financing as well.”
To increase the chances of success of the startups that Applyifi Launchpad invests in, the program has a component of deep-engaged mentoring that is customised for each startup. While the program for the first cohort is largely online, startups will get the full benefit of Applyifi’s proven methodology and framework.
Nitin Sarda, VP Finance of the Etisalat Group and an advisor of Launchpad Advisory said, “The program is global in nature. We want to provide startups with the access to markets beyond what they feel are currently possible.”