India Quotient announces first batch of 11 incubatees for its bootcamp; Program starts April 15
India Quotient is an early stage venture capital investor founded by Anand Lunia. An initiative to help early stage startups more intricately it has launched the IQ bootcamp- a free and no-contract technology incubator. The effort is promoted by and mobile VAS company One97 Communications and today, they've announced the first batch of 10 incubatees. The teams were selected by a panel comprising of One97 Communciations’ Vijay Shekhar Sharma, Seedfund’s Shailesh Vickram Singh, Matrix Partners’ Tarun Davda and, India Quotient’s Anand Lunia.The eleven teams selected as part of the inaugural batch are:
Fusedcow: A product information modeling & market intelligence dashboard for building material/product companies (site not public yet).
Clipr: A personalized magazine of products for window shopping and gift recommendations.
Eashmart: The value proposition is to allow the user to pay anyone, anytime, anywhere, with their card.
Mealnut: Takes home cooked food to the masses. (Also a Morpheus Gang company)
Eezyrent: The ambition is to make it really easy for the young bachelors, busy mothers, hard working businessmen & the old parents to rent a place, for any purpose or duration.
Buyundercover: A brand of fashion lingerie offering an extensive line of sensuous and naughty costume lingerie, babydolls, etc.
Gaglers: A link between buyers and sellers at online marketplaces
Storemonk: A retail SaaS venture
Dawa: An online platform for purchase of medicines
Imly: A platform for home chefs
Tutor Aider: SaaS software for tuition teachers, training institutes
The bootcamp is a seven week (50 days) program that'll involve a series of workshops designed to help the teams acquire skills and know-how on topics such as idea validation, SEO/SEM, fundraising, UI/UX, LEAN startup and product design.The teams will also be exposed to various workshops from VCs, leading entrepreneurs and will get first hand experience via "Startup Tours" (first up will be MakeMyTrip- all the startups will be visiting MMT's office in Delhi).
The program commences on April 15 at the premises of One97 and India Quotient in Mumbai and ends with a Demo Day which will offer all the participating teams a platform to pitch their ideas and business models to venture capitalists, angel investors and startup incubators.
India Quotient and One97 will not own any stake in the companies in exchange for the space, infrastructure and ecosystem provided. Fuding for the startup is not guaranteed but the teams do have the opportunity to continue with India Quotient with funding up to Rs 50 lakh. "Our main intention behind this initiative is two-fold: One is that we'll be able to learn a lot ourselves and we believe that keeping the program free from any attached strings, we'll be able to attract the best companies automatically," says Anand Lunia.
Update: Storemonk was added later as the batch size was increased to accommodate 11 startups.