May 26, 2021: Graduates from IIM Ahmedabad and BITS Pilani, Abhishek Sethi, and Prateek Behera have launched over One Million USD Fund in order to support, and invest in startups started by the college students.
On Wednesday, May 26, 2021, their venture, called gradCaptial stated that they are planning on supporting 20 start-ups founded by IIM Ahmedabad and BITS Pilani students by investing USD 25,000 in each. The 20 start-ups will be selected over the next year by gradCaptial.
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gradCaptial further added that it will host an eight-week intensive program for startup companies of college students. It has also started the application process for its first cohort of startups for all interested students.
“Apart from building a strong and sustainable structure for their company, these young entrepreneurs will leave with countless tools, crucial knowledge, a network of peers, mentors, and investors, and funding of USD 25,000", it said.
gradCaptial is supported by the "CIIE.CO – The Innovation Continuum", which is also based out of IIM Ahmedabad. It has plans on supporting over 100 startups in the next three years by investing in them.
Referring to the startups founded by students of BITS Pilani and IIM Ahmedabad, Abhishek Sethi added, “We genuinely believe in academic spaces. Entrepreneurship is a way to bring such strong ideas to life and create value for society. We are betting on such ideas''.
Abhishek Sethi and Prateek Behera have selected a total of eight companies for the cohort which include KiranaKart, Humit, Codedamn, Valerio Electric, and Neuralastic. Referring to the cohort, Prateek Behera stated that Science, Commerce, Arts, and Engineering college students have tremendous value in their startups.
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