BANGALORE: Social investor Unitus Seed Fund has launched Speed2Seed, a nationwide program to help early-stage startups raise angel and seed capital in order to grow and realize their potential. Unitus announced that it has signed on 11 business accelerators and incubators including Catalyzer, Khosla Labs, IIM Calcutta, Deshpande Foundation and Startup Oasis as program partners.
"Our main contribution, to this program will be to assemble global best practices as knowledge partners to accelerators and incubators and the findings from this survey will be available to our partners. We will be bringing in different content modules, sample documents and regular pitch sessions, to startups on how investors think so that they can better prepare and rapidly understand how to build a venture investable business. We will augment existing programs at our partners," said Will Poole, co-founder, managing partner at Unitus Seed Fund.
Once these companies are venture ready, Unitus will look at investing in them too. Additionally, partner accelerators and incubators will introduce companies under the program to investors. The program will last up to two years, and both Unitus and its partners will introduce applicants to each other. "We have made 33 introductions to four partners so far," Poole said.
Unitus' research with a sample of over 50 incubators in India indicates that only about 5% of incubated graduates are receiving angel or venture capital investment. Comparatively, accelerators that work with later stage startups are finding more funding - on average about 25% of their graduates get financed, it said in a statement.
Others in the network of partners include Amity Innovation Incubator, Catalyser, CIBA, CIE IIITH, Startup Village, Sylvant Advisors, and VIT TBI.
The Speed2Seedprogram is part of Unitus' India Impact Acceleration Program, which is made possible in part by U.S. Global Development Lab, a program of USAID.