Nitrobator wants product development easy for non-techies, will build in exchange for equity
There have been numerous campaigns revolving around getting more people to code. Although everyone can learn, it is not always necessary and the need for a solid technology backbone will always remain for a company to thrive. Ankit Dudhwewala is one such 'non-techie' who wants to solve the problem of finding a technical co-founder. Ankit runs AppItSimple, a products company along with Piyush Patel, the CTO. The company is based is Ahmedabad and the duo has now come up with Nitrobator, an incubator that'll help non-tech folks build their company.
“Many people face the issue of getting a strong technology partner due to which execution falls apart for many products. The sad part is that all the incubators and accelerators have a very high focus on technology and this is where we thought of stepping in,” says Ankit. AppItSimple is a team of 10 at the moment and they specialize in web and mobile development. The same team will also work on projects taken up by Nitrobator. Both the ventures are supported by Saludcare (I) Pvt. Ltd, Ankit's family business. Saludcare is a prominent player in the domestic Pharma market and is managed by Vinod Dua.
Nitrobator will work for equity in the company. The equity range will be 20-40% which is on the higher side according to me but it is better than not seeing an idea being implemented. Nitrobator is taking in and evaluating ideas at the moment. “As we don't take any monetary compensation, escape for the entrepreneur becomes relatively easier. A bad venture leads to opportunity loss for many other entrepreneurs and financial loss for us. Hence, we don't want to get into any project before evaluating the intent of the entrepreneur, which in our case is as important as the idea itself. This takes time,” says Ankit.
For the equity it takes, Nitrobator will take the product to a point where the entrepreneur can build his/her own development team. “This of course is broken into stages (over a year) and tangible values are attached to it in terms of customer acquisition, turnover, etc. This is for regular evaluation of the concept,” says Ankit. The nitty gritty of a project will depend from case to case.
Nitrobator has an inclination towards ideas that solve a problem for India and will give such ideas more weight. The concept itself is very suitable for the Indian market and it can surely help realize some ideas in the online world which otherwise may never have had an opportunity to be in the internet space.
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