Hyderabad: International Institute of Information Technology, Hyderabad (IIIT-H) has created a seed fund network to invest in technology startups placed in the IIIT-H incubator and/or anywhere else. The fund will be from a network of investors comprising of professionals and successful entrepreneurs.
The fund will be invested in early stage tech startups in areas like machine learning, computer vision, robotics, AR/VR, natural language processing and other sub-domains of artificial intelligence among others.
The seedfund will comprise of professionals and entrepreneurs who will extensively mentor the startups. The venture capitalists who are senior industry leaders with extensive domain knowledge and peer networks will assist in creating a structure to support start-ups and further enhance IIIT-H’s startup ecosystem.
“As mentors and key players in the startup ecosystem, we found that the lack of resources, mentoring, market reach and early stage funding seriously impedes and limits many startup founders. As a group, we want to address this through the mentor intensive fund we are launching along with IIIT Foundation” said Viiveck Verma, co-founder DiSRUPPt Thinking.
This guidance and investment mentoring model is expected to help startups leverage the expertise of individual investors who will be sharing their expertise in sales and marketing, finance, systems and technology, risk, legal and compliance, tax and legal, HR and training.
The seedfund is being started in conjunction with 5 leading investors who will help structure and govern the fund. These include Viiveck Verma, Vikrant Varshney, Ajay Jain, Anurag Garg and V V S N Raju.