NEW DELHI, April 6, 2020 /PRNewswire/ -- PadUp Ventures Private Limited announces the launch of 'BootUp Lockathon' - an idea to investment online bootcamp for startups where funding worth Rs. 25 lakhs (Rupees twenty-five lakhs) will be on avail for PadUp validated and investor shortlisted startups. Open to global technology and technology-driven startups with more than just an idea, this one-of-a-kind online bootcamp will take the entrepreneurs through a structured process to build disruptive, innovative and resilient startups.
Spread over six-weeks, the BootUp Lockathon will provide participating startups the opportunity to become investible by helping them to understand the nuances of entrepreneurship as well as validate their business idea via a customer centric process that is based on lean startup principles. The BootUp Lockathon is being launched at a time that is witnessing unprecedented industry traction for e-learning, remote working, and productivity tools aimed at generating tangible returns for both the providers and the consumers. The online nature of the bootcamp will enable the participants to be part of global programme, aided by webinars, videos, videocalls and online interactions. Thus, the BootUp Lockathon becomes even more relevant in a world that is reeling under a global pandemic and a third of the population is under lockdown.
"Today's entrepreneur is first looking for funding, then some business and may be a mentor, whereas it should be other way around," said Rajat Jain, Founder, PadUp Ventures. "With BootUp Lockathon we are here to change the way entrepreneurs build their business as we take them through a structured mentoring process that makes their offering customer centric to acquire business and funding to build on top of it."
The participating startups in the BootUp Lockathon can look forward to not only making their idea and the problem-solution investable, but also get invested to the tune of upto Rs. 25 lakhs while getting their idea validated by the PadUp mentors. "In these difficult times, one of the ways we can help entrepreneurs is to make the startup investible," said Pankaj Thakar, Founder, PadUp. "We offer to take the startups via a well-defined, tested and validation delivered process that clearly outlines startups true value proposition, market potential, innovation and the business plan which ultimately is appreciated by Padup's associated investors."
The registration process entails online submission by visiting the BootUp Lockathon microsite - http://www.padup.in/lockathon. On the microsite, the interested startups can find more information encompassing important deadlines, milestones, programme structure, mentor profiles, terms and conditions and frequently asked questions in addition to other information. Post the pitching session, the shortlisted startups who have moved beyond the idea-stage with a tangible proof-of-concept, will qualify to potentially receive an investment of upto Rs. 25 lakhs each and the funding will be facilitated by PadUp and its associates in lieu of five-percent equity in the company. The shortlisted startups will emerge from the programme as a result of attaining a grade score of eighty percent or more and, subject to approval of PadUp's investment committee.
With about 90,000 startups in India, less than ten percent are able to secure funding due to undifferentiated business model, and a host of other gaps such as lack of skills, funds, mentoring, leadership and proper business conduct. All of these are indicative of lack of structured mentoring. As a result, the BootUp Lockathon has been conceptualized to help startups overcome the crucial initial years of survivability by combining entrepreneurial education and mentoring for budding entrepreneurs. PadUp, a knowledge firm founded by industry veterans, has a proven track-record of successfully assisting entrepreneurs with open sourced resources and mentoring guidance. Over the years PadUp has incubated, mentored, and guided many start-ups. PadUp is in a unique position to create meeting grounds for start-ups and corporate entities so that they could leverage their mutual strengths.
About PadUp:
PadUp is a scalable 'Mentoring to Accelerate' platform that focuses on Knowledge and startup Acceleration Funding. Established in 2015, PadUp boasts of a founding team with in-depth experience in strategic, leadership and ownership roles in large multi-national corporations in diverse industries as well as in the entrepreneurial world. A shared motivation of contributing to nation building and societal development have led the founders to form PadUp with the purpose of creating employers, not employees. PadUp works with and for start-ups with a 360-degree handholding, long term engagement approach, from start-up ideation and validation phase through survival and sustaining stages to the scaling-up stage.
With the vision of being a mentoring partner of the start-ups of world class quality, PadUp is continuously investing in refining its mentoring platform and creating funds (and funding opportunities) for the qualifying start-ups that have been mentored by it and have gone through all its qualification filters. PadUp's mission is to significantly impact at least 1000 early-stage tech start-ups by the end of the year 2025, with its structured online-cum-onsite world-class quality coaching and mentoring across sectors, to achieve a survival rate for its mentored start-ups that is substantially higher than the industry average. In completing its mission, PadUp aims to create extremely attractive returns on its shareholders' investments. PadUp is in strategic alliances and partnerships with government agencies, educational institutions, corporate entities, and diverse tech platforms through whom cohorts of start-ups are brought on board PadUp's "Mentoring to Accelerate" platform. As of the beginning of the year 2020, PadUp is deeply connected to a 2500 strong (and continuously increasing) global network of industry domain experts, affiliate mentors, angel and seed funding entities as well as funds interested in supporting start-ups at, and indeed beyond, Series A round of funding.
To learn more about our work and initiatives, please visit us on Facebook, Twitter, or Instagram. Please visit our website - www.padup.in
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