After ace badminton player Saina Nehwal, Olympics winner Abhinav Bindra has floated a venture fund that will invest in start-ups.
Olympics shooting champ Abhinav Bindra has set up an incubation fund called Shooting Star LLP, in equal partnership with consulting firm Franchise India and an initial investment of $2 million and will be expanded further.
"This is my first widespread and extensive business venture. A start-up is very much like an athlete's life... There's no guarantee for success," said Bindra.
The ace shooter, who has also been the first ever Indian to win an individual gold medal in Olympics, further added, "There are only challenges but that's a life I've lived for the last 20 years. Shooting is a great sport but not where you can make sustained economic benefits over a lifetime. I have been contemplating ‘What More’ and that is where the Shooting Star LLP’s Idea was born.”
Aiming to back innovative ventures, Shooting Star LLP welcomes young entrepreneurs to share brilliant ideas with the firm.
Franchise India would bring the infrastructure and growth support across India and overseas at Shooting Star LLP.
Elaborating on its role, Gaurav Marya, Chairman, Franchise India and partner in Shooting Star LLP, said, "The fund will be used for making investments in such service oriented start-ups that have scalable formats and specialized domain expertise such as emerging sports academies, sports injury, Rehab, tech, equipment, training, health apps, child development, holistic wellness, organic food and dairy.”
Franchise India is Asia’s Largest Business Growth organization with 18 years of specialization in the empowerment and growth of Startups, small and medium business and corporates across B2B and consumer businesses.
The company brings to businesses right partners, brand growth strategy and expansion advisory through its media, forums and consulting verticals. A 700 people on the ground team at Franchise India has been addressing business needs of Start-up and growth entrepreneurs across the country.