IFIM Institution’s startup incubator aims at creating an ecosystem for budding entrepreneurs, enthusiasts and investors to explore ideas in the space
Bengaluru, October 14, 2017: IFIM Institutions, inaugurated the first session of ‘Friday’s@Startup Foundry’, today, at the college campus. The event, which is scheduled to take place on the second Friday of every month is open to start-ups, enthusiasts, IT professionals and students from various colleges with no fee. This bi-monthly event is hosted by IFIM’s startup incubator cell with an aim to make Electronic City a hub of entrepreneurial activities.
The one hour evening session is a platform to listen and interact with entrepreneurs, investors, mentors and industry experts as they share their insights on the startup ecosystem in India.
The commencement session of ‘Friday’s@Startup Foundry’, was conducted by Mr. Nao Murakami - Partner at Incubate Fund India (The Largest Seed Focused VC in Japan) who shed some light on the topic “What do Investors look at while funding a startup” . He said, “ There are three important questions that every investor looks at before investing- first, is the idea strong enough to make the customers pay for it? Second, is the market big enough for the solution that the idea is offering and third and most importantly, how committed is the founder; unless he puts in his all, no investor will trust him.”
Varun Akhnoor, Chief Incubation Officer, Startup Foundry, IFIM Business School said, “Business Schools are cultivators and motivators of entrepreneurship. It forms a base for budding ideators to find a firm ground and grow at a swift rate. There is an immense talent pool and networking with fellow ideators and potential mentors would only lead to an upward climb.”
Attending the session was Mr. Sanjay Padode, Secretary, Center for Developmental Education (IFIM Institutions). Sharing his views on this initiative, he said, “As India reaches the doorstep of becoming one of the youngest countries of the world, entrepreneurship is a platform that will redefine the youth of this country. Bangalore is the pivot of startups in India and Electronic City, a major area of business. Hence, we plan to become the first incubator in Electronic City to give shape to fresh ideas.”
Several areas in Bangalore like Koramangala, HSR and Indiranagar are startup hubs. IFIM envisions Electronic City too to be a part of this ever growing start up city.