How Our Programs Work
VentureNursery’s acceleration process works on a hybrid model that includes Acceleration Program and PARALLELTRACK mentoring.
- Acceleration Program is run a minimum of twice in a calendar year, each lasting 13 weeks.
- Application for each Acceleration Program is accepted over a three to four week period, as announced from time to time.
- A short list of about a dozen start-ups is generated by the angels-in-residence and other invited experts, within a week of closure of application deadline.
- Finally, a maximum number eight start-ups are chosen to go through the Acceleration Program program.
- The CEO or the founder of each start-up will be required to relocate to Mumbai for the boot camp duration.
- Each start-up will be given business support service package along with the basic business building infrastructure
- All third party service will be directly paid by the start-up, although the service fees of our partner companies are highly subsidized specifically keeping in mind the stage of business of our participating start-ups.
- In addition, each start-up will be given on-premise guidance by industry experts as well as other professionals through lectures and workshops and off-premise one-on-one mentoring by the Advisors-in-Residence.
- During this entire period of 13 weeks, all start-ups will have complete access to our Angels-in-Residence for any and all queries and guidance.
- On successful completion of the Acceleration Program, each start-up will be required to make a presentation in a defined format to our Angels in Residence, Charter Angels and other specially invited judges on PITCH DAY.
- The primary purpose of the PITCH DAY is for the start-up to get valuable critical feedback from seasoned business builders and investors, who may also take investment decisions, if any, in consultation with VentureNursery.
- After the PITCH DAY, the Angels-in-Residence will invest in up to three of the successfully graduating start-ups. If required and considered relevant, the Charter Angels may invest more in any or all the start-ups.
- All successfully graduating start-ups will be given post-acceleration support in operationalizing the business, locating and hiring co-founders and raising funds, on a best efforts basis.
Eligibility Criterion: Acceleration Program
- Your idea, that can be explained simply, should be able to solve some real problems of enough number of people, which can translate into a business and make profit
- A team, ideally made up of people who know each other and who can stick together on a bad hair day. If you don’t have a team, you can still come to us. We can help you put a team together.
- You should have completed your studies. If you have taken your final exams and are waiting for the results, that’s okay. But if you are still studying, we would encourage you to complete your course, so that there is no clash between your studies and your idea.
Some famous people have dropped out of school to start a business and should you try to take that route, we will understand, although you need to remember that dropping out of school does not automatically make you successful in business, no matter how romantic it may sound.
- Ideally, you should not need an income, any income, for at least 2-3 years of starting up. It does take time to build a business. If you have a boyfriend or girlfriend on whom you need to spend money, or you are married and your spouse isn’t working or have a child who needs support, factor it in before you decide to take that start-up ship. No investor wants you to take any respectable salary while also building your own business.
- Remember what they say about compensation. It’s something you get paid when you can’t to do what you love doing. That means it’s either your business or compensation, not both.
- If you have built the initial version of your product, great. If you haven’t, that’s okay too. As long you have a powerful idea, you owe it to yourself to see if you can execute it.
- VentureNursery is open to accepting acceleration requests outside the Acceleration Program as well.
- PARALLELTRACK acceleration is a virtual acceleration process, with no mandatory office acceptance requirement.
- The selection criteria for this PARALLELTRACK process are generally more stringent and ordinarily, no more than three start-ups will be accepted through this mode in a calendar year.
- Applications will need to be submitted in the prescribed format and a physical meeting and references may be required at the applicant’s cost, before a decision is taken on acceptance of application.
Eligibility Criterion: ParallelTrack
- A high quality founding team with cross functional background and great chemistry attracts most early stage investors. Such a high quality team attracts the right talent to build DNA of product or service
- Addressing Large Markets -An innovative Idea with huge market on the path to a $1B potential has margin for adjustment
- Unheard story – Outwitting the competition by novel solution of a complex problem
- Business focus and model- ability to make money
- Edge over competitive