InnovationQore, a startup accelerator, has started Turbostart, a national-level startup programme to fuel the growth of around 100 startups over the next five years, reported Yourstory.
Under the Turbostart programme, every six months, the top ten innovative startups will be identified and nurtured by a team of entrepreneurs, business leaders and a seasoned management team who are working full-time to assist the startups.
As part of the programme, shortlisted startups will also be funded with (up to) Rs 2 crore (per startup).
Also, the startups will receive assistance with product positioning, human resource management, brand and digital strategy along with marketing and sales.
Ganesh Raju, Founder and CEO of InnovationQore said, “Our vision is to build a strong startup ecosystem by creating a clear path of success for the entrepreneurs and eliminating the tedious task of dealing with market hurdles and non-core activities.”
Apart from accelerating the growth of the startups, the programme is also aimed at complementing the work of existing incubators and accelerators.
Raju further added and said, “Our plan is to fund 20 startups per year in two seasons – January and June. The intent is to accelerate the growth of at least 100 startups over a period of five years We have raised around 50 crore already with additional commitment from investors on a need basis.”