Online platform for startup investments, Applyifi.com has partnered with Educomp Solutions Ltd., an education service company to launch an education technology focused funding forum.
The forum will provide a platform to identify and support the nation’s next big ed-tech startups. It will provide funding, mentoring, and unparalleled market access to the startups.
The ed-tech startups, which applies for the program before 31st January 2016, will then be shortlisted using Applyifi’s proprietary 36-point scorecard. After that process gets over, the shortlisted companies will be invited to attend one of four first round pitch events to be held in Gurgaon, Pune, Chennai and Bangalore.
Prajakt Raut, Co-Founder and CEO of Applyifi said,
Our aim is to go above and beyond to help high-potential startups succeed by providing not only the funding they need, but also the mentorship and market access that will empower them to thrive. Our aim is to become the one-stop shop for the high-potential startups and we will do everything in our power to help these companies succeed.
A team of mentors from both the companies – Educomp and Applyifi, will work with the top candidates to refine the business plan of the shortlisted companies, before visiting the Educomp Gurgaon headquarters in March.
At the headquarters, the selected startups will pitch to a panel, which consists of members from Educomp’s leadership team and some of the prominent venture capitalists.
From the short-listed companies, up to 5 companies will be selected for the funding by institutional investors and selected angels. Also, there will be no cap on the amount of funding and all the companies funding requirements will be considered.
Shantanu Prakash, Chairman & Managing Director, Educomp Solutions Ltd., said,
It is critical that we harness the brainpower of entrepreneurs using technology to help solve the most pressing problems facing education in India. The Ed Tech funding forum gives us a dynamic platform to identify and help the most deserving startups addressing opportunities in the education sector.
Educomp is one of the largest education company in India. Since last 21 years, it has empowered more than 30 million learners and educators across over 65,000 schools – from pre-school toddlers to competitive high school exams, from core curriculum subjects.
Applyifi, founded by David Kirk, Prajakt Raut and Sharad Puri, is an online platform that converts startup applications into an elegant pitch deck, and provides investors with an in-depth, independent analysis and expert scorecard of the investment-worthiness of each business.
The company is working with a goal to make it easier for senior professionals and experienced entrepreneurs to co-investin curated high-potential startups.