Ahmedabad based development company Space-O funds two startups with $5000 each
Space-O is a mobile app development company founded in 2010 by three experienced professionals, Rakesh Patel, Atit Purani and Utpal Vaishnav. Space-O is now 100 member strong and has clients mostly in the US (95%). They have their own apps along with the services as well. In a recent announcement, the company has funded two young startups from Gujarat that were discovered at an event Startup 20-20 which was conducted at MS University by GTU (Gujarat Technical University) along with OpenFuel.org.
Rakesh was invited as a mentor for the event which had more than 15 teams participating. Rakesh went on to fund two of the companies which he found interesting:
1) Park: On the Go
On-the-Go will employ crowd-sourcing model (like Wikipedia) to gather the data and build a database of parking and no parking zones. For the end users, access to this data will be made available free through various mobile and web apps. The team includes Juie Talavia, Bhargav Mehta , Hardik Bagdi, Himanshu Chetwani, Smit shah, Hardik Patel and Rishabh Shah.
Radius is building a mechanism to improve the credibility of resumes via "credibility scores". Radius is basically a platform that will do all the data mining and analysis about an individual for building their credibility. The team includes Naeem G Shaikh, Ronak Gohil, Dhrumil Pathak, Amit Anand, Ankit Agrawal.
Both the companies will be given the money in the form of infrastructure, tech support and other management capabilities that the startups will need.