Beginning from August 15 this year, Business Accelerator firm Turbostart will start the second series of funding round, Cohort II, with a Rs 50 Crore corpus for startups. This series will fund up to Rs 2 Crore to each of the entities.
Turbostart conducts the funding programme bi-yearly, under which it invites early-stage startups that are looking for funding to commence their business.
Along with the funding, winners will have the opportunity to receive mentorship from industry masterminds, such as Jyothy Laboratories Joint MD K Ullas Kamath and Novozymes former Regional President and MD G S Krishnan, who are part of the advisory, investment, and governance boards of Turbostart.
Turbostart aims to provide a platform for budding startups where they get not only funding but also the chance to be guided in the startup world by the industry giants.
In July this year, Prime Minister Narendra Modi launched the Aatmanirbhar Bharat App Innovation Challenge to reduce dependency on foreign apps.
The challenge saw participation from 6,940 tech entrepreneurs and startups across the country. This challenge aims to help identify the best Indian apps in eight categories — office productivity and work from home, social networking, e-learning, entertainment, health and wellness, business, including aggrotech and fintech, news, and games — already available for use and scale them to world-class standards.
Last year’s funding programme by Business Accelerator Turbostart received over 1,000 applications from over 30 countries globally and 300 cities, including startups from various sectors such as ed-tech, health-tech and internet of things. In this dynamic situation of the startup ecosystem, funding has become even more challenging, believes CEO Ganesh Raju, Founder, Turbostart.