The second series of the funding round, ‘Cohort II’, with a Rs 50-crore corpus for start-ups. This program aims to provide startups, not only funding but also guidance from industry stalwarts and advisors.
Business accelerator firm Turbostart announced a second series of the funding round, ‘Cohort II’, with a Rs 50-crore corpus for start-ups. Turbostart will select 25 start-ups in this round, beginning from August 15, and fund up to Rs 2 crore to each of the entities.
“Turbostart opens applications for Cohort II. Twenty-five start-ups have a chance to win up to Rs 2 crore funding each,” the accelerator said in a statement.
The firm said the funding program is conducted bi-yearly, under which it invites early-age start-ups that are looking for funding to commence their businesses.
The statement said winners will also receive mentorship by industry stalwarts, 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 founder and CEO Ganesh Raju said last year’s program received over 1,000 applicants from over 30 countries globally and 300 cities, including start-ups from various sectors such as edutech, health tech, and internet of things. “Taking into account the current dynamic situation of the start-up ecosystem, funding has become even more challenging,” Raju said.
He added that this Turbostart’s program aims to provide a platform for budding start-ups where they get not only funding but also encompassed guidance from industry stalwarts and advisors.