The platform will invest in startups that have a feasible roadmap to reach revenues of $15 Mn (INR 100 Cr), and an EBITDA of about $2 Mn (INR 15 Cr) by March 2020.
Ganesh retired as the vice-chairman of Zensar Technologies, an IT services and infrastructure services provider for Fortune 500 companies, last month. He is now focussing on his company Global Talent Track (GTT), a global educational initiative and corporate training solutions company, backed by Intel Capital and Helion Ventures.
Ganesh said, “We have earmarked $600K (INR 4 Cr) to invest in startups. We will invest between INR 25-30 lakh in seven-eight companies this year who are working either in the skills or communities area or in technologies like augmented reality, big data or analytics.”
With the formation of meta-startup platform 5F World, the company will now focus on collaboratively setting up startup incubators or accelerators long with funding. Ganesh added that he plans to spend 70% of his time at 5F World, 10% at GTT and the rest on social initiatives like the Nasscom Foundation and Pune City Connect.
Besides, he also plans to set up Skills Alpha, a company that will use technology to provide technical and soft skills training. He said, “We are working with four companies on this for the beta version, which will be ready in about four months. We will use technology to design a path and help you acquire skills, monitor you, and maybe provide coaching and mentoring. We are investing about INR 3 Cr into this.”
The development was first reported by ET.
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