This is part of an ongoing startup review series supported by our sponsors Sun Startup Essentials.
Startup Incubator: Seeders
Well we have been reviewing startups but today we shall review a newly launched startup incubation firm. The name is Seeders
One sentence description: Startup Incubator for Tech Startups
About Startup Incubator: Seeders is an incubation firm that focusses on internet enabled startups only. It is based out of Kolkata and would provide infrastructure, mentoring, handholding as well as investments of 5-15 lakhs to startups in India. They currently have a fund size of 2 crores for startups.
About Founders: The company is founded by Abhishek Rungta, founder and CEO of Indusnet Technologies, a firm that specializes in all things Internet – design, development, market, training and Pallav Nadhani, co-founder of InfoSoft Global, the company behind FusionCharts.
Funding Status: Self Funded
WAT’s HOT: This is by far the closest model to the wildly popular YCombinator model in the US. There have been players like Morpheus Ventures doing similar stuff but they dont invest the funds (atleast not yet). This kind of model is of utmost necessity if the digital startup scene in India is to grow. Also the fact that two handson entrepreneurs are initiating this makes it more lucrative.
WAT’s NOT: The key challenge is the location. Because they are based out of kolkatta they will miss out on the startups elsewhere as shifting to Kolkata is a big decision. Also they need to rope in investors from the very beginning as internet based products require continued investment and 5-10 lakhs wont suffice for more than 6 months.
Our Rating – 4 points out of 5
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I guess iAccelerator is another program running in India thats modeled on YCombinator. They invest between 3 – 5 Lakhs for a 5-8% stake