14th Aug 2018: The Wadhwani Foundation has launched ‘Venture ScaleUp’, a programme with no-fee and zero-equity business, for startups and small businesses to scale up.
This programme was launched recently following an initial experimentation in January 2018 with broad-based cohorts: three in Bengaluru and one each in Hyderabad and Pune. “This programme also includes India’s first SME-led scalerator programme and the first dedicated and structured scalerator featuring FMCG startups,” said Ajay Kela, president of the Wadhwani Foundation.
It is directed towards startups and small businesses with revenue between ₹5 crore and ₹50 crore with the objective of growing their businesses two-to-ten times over five years. “It is a long-term engagement model of 2-4 years, with deep engagement during the initial quarters ” Kela said.
The programme connects the businesses with Wadhwani Foundation coaches, mentors, investors, service providers, prospects and peer networking opportunities, supported by customised knowledge sessions. The foundation’s goal is to create an open-source, highquality scalerator programme model, tools and platform for national and international replication that further accelerates job growth in the country, Kela said.
The foundation has already identified more than 25 companies for the new programme. Three new batches of WF Venture ScaleUp has commenced at Bengaluru (8 FMCG startups), Pune (11 SMEs from automotive and engineering sectors) and Santiago, Chile (12 tourism companies).