Do you create? Do you take risks? Do you live your passion?
Then you surely are an entrepreneur and we love entrepreneurs.
Purpose and Goal
Nothing depicts an early stage entrepreneur’s journey better than this image. The more entrepreneurs we see the more real this depiction proves. The entrepreneur journey that starts from the “best idea ever” and goes through a roller coaster of ups and downs is what we strive to be part of.
The “Garager” program is one of a kind and is intended to create a long term impact on the rate of progress and growth of an early stage business in this new online and technology enabled environment. Even though sometimes fund raising is over-riding, we work towards making the enterprise scalable and fundable.
With this image essentially in our heads and hearts, this program is designed to HANDHOLD early stage businesses through their early years and focus on four key thrust areas of strategic experience, market access, product & digital development and fund raising.
The business gets venture garage as a whole as a partner, an approach that is very different from that of Accelerators and Incubation programs.
Our goal is to make the enterprise with as little burn as possible. We do not believe in high burn businesses at the early stage. We believe that PRODUCT, PROCESS and PEOPLE make an enterprise and we work towards enabling the entrepreneur in all these areas.
While we encourage all Start-ups and early stage business to apply for the “Garagers” program, it works best for the companies matching the following criterion:
1. Have moved beyond just a concept note and have at least reached a prototype stage
2. Have funds to survive for at least an year
3. Have a strong and dedicated founding team
The “GARAGER” program runs for one year.
Why Venture Garage
Unique & Standout benefits: The program provides direct benefits to the early stage businesses and startups backed by a network of 100,000+ businesses, mentors & 1000+ strategic and financial investors.
The team at venture garage has been multiple entrepreneurs themselves, and has been working with early stage businesses and start-ups. The team is in tune with the existing neo-environment and have themselves gone through the highs and lows of scaling up, raising money, and investing money, facing rejection, failing and then succeeding. They themselves have stock holding in start-ups and mentor and work with promising ones.
The “Garager” gets venture garage as a whole as a partner; a company whose activities are Fund Raising, financial analysis& documentation, Investor events, go-to-market & business development, digital execution & consulting. Venture garage thus seeks to address whatever gaps in the above areas that may exist in the GARAGER’s business.
6 Key Areas of Delivery
>> Venture Garage would charge equity of 3-5% in the company. This equity will be non-dilutable to infusions by the promoter itself, ESOP allocations and any small friends and family rounds.
>> And a monthly fee of Rs. 25,000- 50,000
>> To create some cash flows there would be revenue share on actual business created (5-15%), success fees on fund raising (2%).
>> All third party payments to vendors would be made directly by the company.
There would be service tax applicable as per GOI regulations
“It’s almost always harder to raise capital than you thought it would be, and it almost always takes longer. So plan for that.”