SUMMARY
The programme has been floated in partnership with HSBC and AWS
Ideaschool is a 6-week startup acceleration programme which has been designed for entrepreneurs who are seeking to build startups that are at the idea stage
Each of the five finalists will receive a funding of INR 80 Lakh from IPV along with mentorship
Angel investment platform Inflection Point Ventures (IPV), which counts Clensta, Siply, Loankuber, Kazam and Qubehealth as some of its portfolio companies, has launched a sector-agnostic accelerator to support entrepreneurs who are seeking to build startups that are at the idea stage.
The six-week startup acceleration programme, IPV Ideaschool Batch 1, has been floated in partnership with HSBC and AWS.
IPV expects a turnout of over 2,000 applicants for this programme, of which 100 will be shortlisted in the first leg. Eventually, 40 of those 100 startups will reach the next stage to participate in the accelerator programme discussion, it said in a statement.
Talking to Inc42, IPV’s cofounder Mitesh Shah said that the startups will be evaluated on the basis of several parameters such as background of the founders, their vision, their experience, governance and others.
Given the fact that the startups are in the early stage, Shah said, “We are mindful that the actual traction in terms of revenue might come in later but our focus will be on identifying ideas which are solving a genuine problem.”
At the final stage, the programme will offer an opportunity for the top 15 startups to showcase their products and offerings, where five of them will be selected. Each of these startups will receive a funding of INR 80 Lakh from IPV.
The funding will be offered through IPV’s subsidiaries Firstport Capital and Physis Capital.
As a part of this programme, the startups will also receive mentorship from the IPV experts on business development. IPV will also leverage its own investors’ network, ecosystem partners and other VCs to help the startups get access to the required infrastructure and raise additional capital.
In addition, the selected startups will also have access to bootcamps, and masterclasses on various subjects helmed by experts on matters related to different areas of businesses that founders should learn about.
Shah further said, “IPV Ideaschool- the highly curated program aims to give an edge to the startups as they will not only secure early-stage funding but also get an opportunity to grow and scale their business rapidly with strategic guidance and IPV’s rich network.”
Founded in 2018 by Shah, Vinay Bansal, Vinod Bansal and Ankur Mittal, IPV has participated in more than 210 deals with support from over 11,000 investors including CXOs, HNIs, and professionals.
In September 2023, the angel investment platform made full exit from automobile spare parts platform Koovers, claiming a 47% internal rate of return (IRR).
