gradCaptial, a Bengaluru based company targets to invest $25,000 in 20 startups founded by college students.
Abhishek Sethi and Prateek Behra graduates from IIM-A and BITS Pilani have incorporated gradCapital, to provide financial support to the startups founded by college students. A press note released by them says that they target to provide an assistance of $25,000 to 20 startups funded by college students and claim to have opened their call for applications of startups.
In a press statement Abhishek Sethi Co founder at gradCapital said that “ we genuinely believe in academic spaces. Think historically, major societal transformations have emerged from university campuses. The LGBTQ+ movement, the microprocessor that runs our phones, or immunotherapy for cancer – all have their roots in just one college campus”
All these reformative ideas initiated form the visionary minds of students, which are beneficial to the entire human race. As per Mr Abhishek Sethi, their vision is to support these ideas that evolve in the college campus. He further added that entrepreneurship is the only way to bring these ideas into a reformative reality.
This fund that gradCaptial raised is basically designed to assist the college students to transform their business ideas into a reality. This student oriented fund is also supported by CII.CO – The Innovation Continuation based out of IIM Ahmedabad .
In order to maximize their reach to the potential startups, gradCapital has hired associates from across the country. It also shook hands with many student communities across the campuses to filter the best talent.
They will host a dynamic eight week programme for companies founded and managed by students to ensure they provide subsequent funds to the startups.
Along with the financial assistance, to build a strong and sustainable structure of their company the students will be provided with a network of peers, crucial knowledge, tools and mentors.
Prateek Behera, Co-founder at gradCapital said,
“ There is a tremendous value waiting to be unlocked by students from science, commerce, arts and engineering colleges. VC’s do not take these bets because it does not fit their risk profile. That is where due to gaps in the understanding of emerging technologies and new kinds of economies the larger VC’s miss out on these companies.”
The programme offered by gradCapital will provide one to one mentorship, discussions with experts, weekly keynotes and special investor focused demo days. They aim to bring out the best out of the new and competent generation of students and aim to fund a hundred startups in the next three years.
This also revealed that their main objective is not just to fund and lift companies but the founders conceptualized this to cultivate a business led environment like never before.