The Indian startup ecosystem has drastically evolved in the last decade. The rise of digital technologies and the soaring number of young entrepreneurs is telling of the fact that the country currently houses the third-largest startup ecosystem in the world.
The 90,000 startups and 115 unicorn companies with a cumulative valuation of over $350 billion could not stave off a funding winter. This was predominantly visible for post-Series A startups in the latter half of 2022 and now holds true for early-stage startups. However, when push comes to shove, founders and startups with resilience and strong character will be the ones to survive and potentially flourish. Startups banking on top founders and solid founding teams will continue to raise funds.
Turbostart is a sector-agnostic, early-stage accelerator and provides a platform for entrepreneurs and startup founders to scale their businesses. The accelerator has now opened applications for the 4th Cohort to enlist startups seeking to raise seed and pre-Series A funding.
Accelerating the startup journey with Turbostart
Turbostart, which has a presence in India, the Middle East and Africa (MEA), the US, and Singapore strives to help early-stage startups with the potential for disruption and impact.
Since 2019, the accelerator has helped and supported more than 25 startups to leverage its network of expert mentors, entrepreneurs, and investors who aid innovation, funding, and scalability.
Two years down the lane and investing over $25 million in 30+ startups, the accelerator is inviting applications for its fourth cohort (Fund II, Cohort IV) and plans to invest up to $1 million each in 10 startups.
Apart from investment, Turbostart will also aid finalists in raising subsequent rounds and access to a worldwide ecosystem of resources, partnerships, and opportunities. It will help co-build with a domain expert to offer specialised support services with its 5 Centres of Excellence which act as the CXOs for start-ups providing strategy and services across business development, marketing technology, investment banking, product, and experience design.
“We provide specialised services to startups that are part of our cohort and help them succeed which funding alone cannot accomplish. We also want to help portfolio companies scale and grow their business, with the right guidance and mentorship”- said Ganesh Raju, Founder, and CEO- Turbostart. He added that the accelerator empowers startups with the right resources, platforms, and guidance to ace their game.
How does it work?
Turbostart follows a cohort-based approach for selecting and onboarding promising startups.
Ganesh Raju, CEO & Founder, explained the process – “Twice a year, we invite applications via our website and carefully evaluate each submission through an extensive curation process. We conduct in-person and virtual pitch sessions to assess the viability and potential of startups” The initial review rounds and the subsequent discussions with the executive committee helps them select the most promising startups. It is presented to an external Investment Committee (IC) for further evaluation. The IC, which comprises experienced industry experts and investors offers insights and guidance to “make the best investment decisions”.
Turbostart has not listed rigid selection criteria and is open to receiving applications from early-stage startups if they have strong unit economics and the ability to scale.
“We typically prefer to write the first institutional check to startups,” Ganesh added. The finalists will be chosen after three months of due diligence and the funding will be initiated after drawing term sheet negotiations.
Ganesh also elaborated that Turbostart believes in the potential of healthtech, edtech, and vertical-focused and differentiated SaaS products. He said-“Our analysis indicates that these sectors possess significant potential for growth, innovation, and impact and we are actively seeking out startups that operate in these fields. Eventually, actual revenue numbers will take precedence over flashy presentations and sustainability will be ingrained in the DNA of startups right from inception.”
What are you waiting for? Apply now and confirm your chances of strengthening and scaling your business under proper guidance and mentorship. To register and learn more about Cohort 4,