A group of individuals who are well-connected or networked in the start-up space have come together to form a cohort to help other start-ups scale without such ventures having to dilute equity.
Growth Accelerator and Investment Network or GAIN has been formed with an aim to capitalise on the connections of the member experts and also move the focus area a bit away from funding only as a way to scale.
“We wanted to shift the focus from funding as the only way to grow and build a way for promising start-ups to scale up. That’s why we launched an equity free, growth focused accelerator program,” said Neera Inamdar, Director, GAIN.
In a similar context, Sharat Chandra, Tech Evangelist and VP at Earth ID, and also one of the founding Growth Partners (GPs) of GAIN, believes that growth has many aspects and it is not that capital is the only challenge all the time.
I have personally witnessed many start-ups with up to Series C funding also struggling in many ways that can be helped,” said Chandra.
Incidentally, GAIN as a concept has picked up pace with multiple GPs - both domestic and international – coming on board and it has also received support from international organisations like Global Impact Fintech, which operates through multiple country chapters.
"It is a fantastic idea to help start-ups scale,” says Varlam Ebanodise, a regulatory professional in banking risk management and currently working with the central bank of Georgia.
“We are happy to be part of the initiative. Having worked [with] various banks and fintechs in UK and EU region, I look forward to helping any fintech start-up from India that I can add direct value to,” said Ebanodise
Ridzuan Aziz, another ex-regulator turned entrepreneur, has also come on board as a GP and believes that the GAIN will add value to the start-ups as ventures need to adapt for which “understanding practical knowledge and listening with intent” are key factors.
“The world wants innovation and transformation and start-ups with their entrepreneurial mindset are in a perfect position to address this 100x demand opportunity,” points out Sudin Barokar, who has joined the cohort and was formerly heading innovations at State Bank of India.
For its first set of applications, GAIN is focusing on three sectors within the start-up space - fintech, health-tech and deep-tech. The applications for first cohort are open and start-ups can apply till July 7.
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