Driven by an expanding economy, rising disposable income, and the recent technology boom, India’s startup ecosystem has simply skyrocketed in the last few years. To enable the growth and long term success of these entrepreneurs, several government policies and private cohorts have been working hard with an aim to support innovators.
Although entrepreneurs are able to connect to investors and even advisors, they still struggle to identify and build a clear path forward to help them grow. Turbostart, a sector-agnostic pan-India programme for early-stage startups, takes pride in doing just that. They are enablers first, financiers next.
Apart from funding up to Rs 5 crore, Turbostart closely mentors startups, acting as an extension of their team, providing services that help with overall business strategy, organisational structure, resource planning, digital marketing, overseas expansion, and other such services.
Showing the way
Unlike other incubators and accelerators, a relationship with Turbostart is ongoing. They continue to support and help early-stage entrepreneurs for as long as they require their assistance, thus giving them the confidence to dream bigger. thus helping them scale their business and reach.
To date, Turbostart has invested a cumulative amount of ₹ 357.32 Mn in the two cohorts that it has hosted.
Turbostart CEO Ganesh Raju says, “While many funds make investments and hope that 20% are successful, Turbostart was designed in a way where we invest and ensure that 80% succeed.”
Turbostart’s team comprises business leaders, strategy consultants, serial entrepreneurs, venture investors and young professionals who have a combined experience of more than 500 years.
The teams at Turbostart - the management team, investment committee and advisor pool enable startups in finding the right customers and help them in implementing an effective business strategy. Each team plays a specific role, whereas the management team was designed to be cross-functional in nature.
Turbostart has worked with more than 70 founders and has seen around 4x value appreciation at the portfolio level in less than 2 years from its inception. Working closely with startups has also enabled them to understand multiple business models across sectors better and help them grow and tackle all problems at hand.
Turbostart’s investee companies such as edtech platform Ken42, gaming and content platform KahaniBox, life sciences platform Ykrita, and satellite imagery platform Tathya are a few of the best performing startups and display high potential to disrupt the market.
According to Mentor-in-Residence Venkat Raju, “At Turbostart, we strive to pave the way for businesses, ideas, and innovations of tomorrow. With two successful cohorts under our belt, we’re ready to turbocharge the growth of startups that will be part of Cohort 3!”
What Does Growth Mean for Turbostart
Turbostart’s aim has always been to support startups on a global level, while also creating more and more entrepreneurs. With regards to future expansion plans, it aims to establish a global network of connections, which is supported by how the fund is structured. Apart from this, Turbostart also plans to expand its current range of value-added services by introducing new offerings like design thinking, strategic HR, and more.