Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2014-09-09

IIG eyeing campus start-ups for promising ideas

Such a move will certainly boost the ecosystem by providing investors better visibility about latest happenings on these campuses.

Our Bureau
 
 
The India Internet Group (IIG), a venture capital firm that invests in early stage internet and mobile technology startups, has launched a campus ambassador programme across top education institutes like IIM, IIT to identify promising start-up entrepreneurs at campuses and deepening connections with students launching startups. 
 
 
"The main motive behind such a move is to tap into the entrepreneurial talent booming across college campuses in India. India Internet Group wants to help identify, mentor and channel the talent of these student entrepreneurs to make them an active part of the Indian startup ecosystem," Anirudh Suri, MD & Founding Partner, IIG told Entrepreneur India. Suri heads the Delhi and Mumbai offices for IIG Advisors. Prior to that, he worked at McKinsey & Company and Goldman Sachs, serving clients in the consumer, retail, healthcare, energy and the public sectors.  
 
 
The firm has so far identified around 20 ambassadors at campuses like IIT-Bombay, IIT-Madras, BITS-Pilani, IIM-Ahmedabad, and XLRI-Jamshedpur, focusing primarily on mobile app development with smart and focused entrepreneurs who know how to fail cheaply and quickly.
 
 
Such a move will certainly boost the ecosystem by providing investors better visibility about latest happenings on these campuses. "In turn, we will be more likely to invest in start-ups coming out of these campuses. Besides investing, we will give them mentorship and training so that these student entrepreneurs can further refine their ideas and products while still in college. Hopefully, all of this will ensure a very deep pipeline of entrepreneurs for the Indian ecosystem," shares Suri. 
 
 
The initial investment range can typically depend anywhere between $50K-$200K for selected start-ups.
 
 
Students from various under-graduate and graduate schools can apply to be a part of this initiative. IIG will provide necessary resources to help promote the entrepreneurial ecosystems on these campuses. Campus ambassadors will be selected through an application process where they are questioned on their startup experience to gauge their engagement levels and involvement with the venture.  
 
 
All campus ambassadors will be presenting their top selected ideas on a monthly basis in an IIG investment call and will work closely with the IIG team to conduct further diligence into the startups, as required. "Further due diligence will be conducted by campus ambassadors as a group (who will vote upon the ideas and products) and then the top startups will be evaluated by the IIG Investment Committee," Suri explains further.  
 
 
Other portfolio companies of IIG includes Findable, TookiTaki, SnapLion, Frrole, inVenture and other. Of these, SnapLion (an app development and marketing company) founded by Nikhil Sama has raised aditional investment from Blume Ventures recently. 
Related opportunities
  • About:An ultimate high-fashion destination for the stylish and glamorous of..
    Locations looking for expansion New Delhi
    Establishment year 2014
    Franchising Launch Date 2016
    Investment size Rs. 20lac - 30lac
    Space required 150 - 200 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Innov8 is a lifestyle collaborative workspace brand, where you work..
    Locations looking for expansion New Delhi
    Establishment year 2000
    Franchising Launch Date 2015
    Investment size Rs. 2 Cr. - 5 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater South Delhi New Delhi
  • Clinics & Nursing Homes
    Express Diagnostics is one of the most technologically advanced Diagnostic..
    Locations looking for expansion Gujarat
    Establishment year 2013
    Franchising Launch Date 2015
    Investment size Rs. 10lac - 20lac
    Space required 500 - 5000 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Quick Service Restaurants
    About:Gharwaala tiffinis a Takeaway QSR + delivery food chain with..
    Locations looking for expansion Tamil Nadu
    Establishment year 2016
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Chennai Tamil Nadu
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities