IIMA and BITS Pilani Graduates launch $1 Million Fund For Startups – gradCapital to fund College Student Founded Startups
In an effort to support and fund startups founded by college students, Indian Institute of Management, Ahmedabad (IIMA) and BITS Pilani graduates Abhishek Sethi and Prateek Behera have launched a $1 million fund.
The Bangalore based venture named gradCapital said it will be choosing 20 startups over the next year and invest $25,000 in each of them.
Co-founder Abhishek Sethi stated “Students have been at the origins of these radical ideas. Our vision is to cultivate these academic spaces. Entrepreneurship is a way to bring such strong ideas to life and create value for society and we are betting on such ideas. With this mission, we help students build the companies of the future.”
Their primary focus is to support college students to not only grow their ideas but also execute them.
The Innovation Continuum, based out of IIM Ahmedabad has extended its support to gradCapital. An eight-week intensive program will be hosted for companies founded and run by college students.
The founders see great potential in taking this forward due to their successful pilot run before launching the fund which bagged around 8 companies.
The applications for gradCapital have been opened. Their vision is to invest in 100 startups in the next three years.