Hyderabad: Wadhwani Foundation (WF) and its flagship initiative, National Entrepreneurship Network (NEN) completed its inaugural accelerator programme. Ten early growth startups shortlisted from over 150 applications participated in this accelerator programme titled as, WF NEN Venture ScaleUp.
With over 25 workshops, one-on-one mentor and expert sessions, the startups received inputs and experiential learning from WF NEN growth coaches, domain experts, mentors, entrepreneurs and experts who worked with participating entrepreneurs one-on-one to help achieve tangible growth and the right ‘Traction Metrics’.
“Wadhwani Foundation’s Venture ScaleUp accelerator programme has helped PROSOC in a great extent to reach out to many new marketing and business development leads. The support for promoting DESKIT helped us to close the orders from few major CSR and government funding partners.
At the start of the program, our average impact through DESKIT on an average in a month was to reach 1,000 students. At the end of 3 months, due to the vast networking support, the average has tripled to 3,000 per month and a prospective pipeline of around 2 Lac DESKITs is being projected considering the orders under negotiation,” says Eshan Sadasivan, CEO, PROSOC Innovators.
Reflecting on Venture ScaleUp, Sri Charan Lakkaraju and Frederick Devrampati, co-founders, stuMagz said “It’s almost like before-Wadhwani and after-Wadhwani for us in the journey of stuMagz. We were facing a lot of challenges, and when we applied for Venture ScaleUp, we understood that it’s the need of the hour, because of the exposure we got to a wide range of mentors. It was like a mirror for us to know about ourselves and how to shape our business and take it to the next level”.
Ravi Bulusu, founder & CEO, Enmovil Solutions was one of startup participants to the programme. He says, “Wadhwani Foundation helped me understand the legal and financial aspects on how to run a company. For somebody who has just done technical stuff and nothing else, the program has been immensely helpful. I understood what it takes to run a company and how to manage my cash flow for my operations. I managed to come with a thought and a business model and now, am walking away from the programme with an excellent execution plan”.
Anusha KP and Muralidhar Nayak, co-founders, PayMatrix opined, “The one-on-one mentoring sessions with the Wadhwani team members helped us capture our thoughts in a more organized way. It also helped us identify channels towards cracking some key partnerships.”
Commenting on the successful completion of WF Venture ScaleUp’s first batch, Dr Ajay Kela, president and CEO, Wadhwani Foundation said, “Although India is only behind China and the United States in terms of number of accelerators, these numbers may not mean much as the quality in many cases is questionable. The real value of any accelerator program lies not in education but in connects and peer learning. WF Venture ScaleUp is focused on enabling hyper-growth to participating startups by enabling connects with mentors, and potential customers and investors. Over and above the three months of deep intervention, our USP is the nine months of continued business support and lifetime access on NEN’s platforms to mentors, experts, service providers and investors”.