It is established by two like-minded Angel Investors in Residence. VN’s acceleration program aims at improving the success probability of the start-ups and funding for series A.
What does this program offer?
The hybrid model of VentureNursery includes Acceleration Program as well as ParallelTrack process of acceleration.
The Acceleration Program offers three months focussed Business Acceleration program aimed at enhancing the probability of success of the start-up. Very comprehensive package for start-ups including regular interaction with Angels-in-Residence, Executive-in-Residence, feedbacks session with top angel investors and partner level VC’s, basic infrastructure support and many other benefits of becoming a part of the program.
ParallelTrack accelerations aims at taking participants outside the Acceleration Program.
Who’s behind the program?
VentureNursery (VN) is established by two like-minded Angel Investors in Residence -Shravan Shroff, Founder and former MD, Fame Cinemas and Ravi Kiran, former CEO- South East and South Asia at Starcom MediaVest Group and Co-founder and Managing Partner, Friends of Ambition.
Why are you doing this?
We are motivated by the opportunity to mentor start-ups and their founders using our many years of experience at starting and building businesses. We believe that while the start-up ecosystem in India is developing rapidly, young companies are quite often either not mentored at all or are passively mentored, resulting in too much time being spent in raising money, instead of building the business, sometimes leading to closure of enterprise.
They can benefit a lot by being actively mentored in their formative months, before they approach investors for seed funding.
What do you look at in team & the proposition i.e. criteria of selection?
ITF - Idea and Innovativeness, Team and Tenacity, Focus and Flexibility
What kind of start-ups do you look for i.e. any sector focus?
Although VentureNursery is designed to be sector agnostic in the long run, it will begin by focusing on six sectors – Media & Entertainment, Retail, e-Commerce, Consumer Technology, Education and CleanTech.
All things being equal, we prefer businesses which are socially inspired. These include triple bottomline businesses.
We are a start-up and we don't really need the money. Does it still make sense to apply?
VentureNursery is less about money and more about the right mentoring. If you feel you will benefit from the strategic and operational guidance by the VN Angels-in-Residence and other participants, you should consider applying.
How much do you invest?What does VentureNursery get out of this?
Angel investors associated with VN may invest up to INR 25L, in a start-up upon successful graduation from the acceleration program.
Each start-up will agree to give sweat equity of 5% to VN, upon admission into the program. All graduating companies will be evaluated for investment by VN’s Angels-in-Residence as well as VN Charter Angels, on Pitch Day
Why does VentureNursery need and want stock in my new company?
We, as an accelerator, play an active role in helping you build your business. Like you, we’re entrepreneurs. Equity in your startup ensures our commitment and time with your team. We firmly believe that our association and strategic guidance can bring significant value to your startup and improve your probability of success.
What is your unique offering for startups?
Will you sign an NDA? How do I know you won't steal my idea?
We respect your intellectual right over your idea and your right to build a business on it. That said, signing an NDA at an idea stage is neither practical nor required. Nor is it a practice anywhere in the world.
We will, however, help you protect your ownership of the idea, by connecting you with the smartest copyright lawyers and experts available.
How can we get funded after the acceleration program ends?
We aim to provide the seed funding to get you going, but you may need more funding. We’ll coach you so that you’re as effective as possible, and help you to get follow-on funding, on a best efforts basis.
On successful completion of the Acceleration Program program, we’ll organize Pitch Day, an investor meet where Angels-in-Residence, Charter Angels and VC members of VN will evaluate your business presentation and share their feedback. Some of the start-ups are likely to get funded as a consequence of this evaluation.
Can you tell me more about the Acceleration Program program?
VN Acceleration Program is a focussed experiential learning with Angel-in-Residence, Advisors-in -Residence, select top Angel Investors, Partner Level VC’s, C level executives, bankers, serial Entrepreneurs’, Government Officials and executives from other high quality start-ups. It’s a magnetic experience full of networking and feedback opportunities.
What if my company doesn’t ultimately succeed?
There is no failure for VentureNursery startups it is just a feedback to improve. The program will build competence in you and your core team which may be useful for your lifetime. You may be potential partners for other startups or a sought after professional.
What sort of control am I giving up by granting equity to VentureNursery?
VN wants to be viewed as your partner in growth and a minority shareholder. We expect to have only those rights which are relative to our minority ownership position. In a nutshell, we don’t want any special or controlling interests in your company. We won’t ask for a board seat or for any uncommon investor rights. It’s your show and you will run it.