Entrepreneurs launch AngelPrime
Entrepreneurs - Bala Parthasarthy, Sanjay Swamy and Shripati Acharya - have launched AngelPrime, a unique "incubator" that plans to launch multiple start-up companies focussed on three areas: Electronic Payments, eCommerce, Smartphones and Tablet-based applications. AngelPrime brings ideas and entrepreneurs together, fuelling this with much-needed mentorship and seed-capital to rapidly create successful start-ups.
Together with the explosion of mobile data traffic, affordable Smartphones & Tablets and new digitally verifiable identities like UID, there is a unique opportunity for next generation of entrepreneurs to start with a clean slate and build applications and products that can leapfrog existing technologies. While numerous funds pour capital into later stage companies, the very early stage start-ups or entrepreneurs with ideas are highly starved of investment and critical mentorship.
"AngelPrime's approach is to use the 'lean start-up' model in bringing together highly talented entrepreneurs, mentor them through the process of taking an idea, prototyping it, validating the market, building a customer base and in 9-12 months raising institutional investment for the business," said Bala Parthasarthy, Co-Founder, AngelPrime.
Sanjay Swamy, Co-Founder, AngelPrime, said, "We are excited both by the calibre of investors and the early entrepreneurs we have been able to attract. Our first companies will be coming to market soon. Within the next 30 days, we will be launching a Mobile-based Payments company and within 90 days, a Smartphone/Tablet-based eCommerce company."
Raj said, "AngelPrime is filling a key gap in the Indian start-up ecosystem - enabling entrepreneurs to focus on building great companies while relying on an entrepreneur-friendly, been-there, done-that set of committed co-founders, advisors and mentors whose incentives are squarely aligned with company success."
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