The second largest startup ecosystem globally (as per number of registred startups from DIPP) is getting a fresh entrant in its competitive angel/pre-series investing scene. UK-based Entrepreneur First, a unique talent investor which helps founders find relevant co-founders, has announced its launch in India.
As a part of the launch, the fund has also allocated $25Mn from its much larger global fund. As part of its pledge, EF will invest in each of the companies developed during its bi-annual Bangalore programme that clear the Investment Committee, apart from the monthly stipend paid to cohort members. EF focuses on deep tech companies that build on defensible technologies such as Artificial Intelligence, Quantum Computing, AR/VR, Robotics etc. The fund has, in the past, invested in companies across a broad spectrum of industries including space, satellites, medical devices, logistics, marine technologies, insurance, banking, fintech, education, agriculture and many more.
Finalized startups from EF Bangalore will pitch to well-recognized regional and global investors at Investor Demo Day in Asia this July. Also present on the Investor Demo Day will be startup counterparts from EF’s Hong Kong and Singapore programmes.
Esha Tiwary, General Manager of Entrepreneur First in India said,
We have remarkable talent available in India. Through Entrepreneur First, we are trying to change the narrative for ambitious people in India who have thus far hesitated to start companies due to several reasons such as lack of a co-founder, no big idea, job security.
For those of you who are unaware, Entrepreneur First works on a rather unique model by helping entrepreneurs find a credible co-founder, develop an idea and create a highly scalable technology company from scratch.
Each year EF announces 2 cohorts in each location and invites applications. This is followed by interviewing, shortlisting applicants, and finally announcing a cohort. Of those who register, about 50 to 100 promising individuals form a cohort and are paid a stipend for the duration of the programme. These founders then go on to select co-founders and build companies with the support of EF. Selected companies get funded by EF and are also showcased to the larger investor community to raise seed funding.
Firoz joins The Tech Portal to report on all stuff that relates to developers and their community. He is actively involved in multiple startups, helping them build and develop modern web products.