The Morpheus is known for accelerating startups such as Airwoot, Commonfloor, Zepo, Padharo, pocket Science, iDubba and more. However, it seems that the startup accelerator is now taking a while to change its own support program.
The company website’s home page is now replaced with a blog post and a picture of the ‘Morpheus Gang-the founders of the companies in its portfolio’.
As revealed from the post, the team will soon be bringing changes related to supporting early or growth stage startups, criteria of their success, etc.
The Morpheus was started in year 2008 by Sameer Guglani and Nandini Hirianniah. Till date, the accelerator has produced 10 batches with currently around 82 startups in its portfolio.
Need for evolution
Morpheus’ purpose in the beginning was to provide dedicated support to startups in the portfolio during the first 2 years. However, with the evolution of startup ecosystem, the founders are now more mature and have many good sources of support.
“Currently, there are other serious and tough problems that need to be solved at the ecosystem level so that Indian startups can go to the next level and way beyond,” as said in the blogpost.
Proposed changes in the support structure
1) Initial format included 4 months of intensive engagement / 5 L INR investment and lifetime support. Now, This will not include batches of 4 months, but will extend support only when it is required at anytime of the year and only till the support is relevant.
2) The new program proposes ‘Open Community’ in order to include more entrepreneurs, who can contribute to and draw from the morpheus gang. Previously, only the members of the gang can participant in the community.
3) The focus will shift from early stage startups to companies in the next stages, 2-5 years / 5-10 years & across other categories.
4) The criteria of success for the company will shift to the ‘Happiness’ they receive rather than how much follow funding or revenues it receives.
“If a company is worth 250 crores but the founders are unhappy, for us it is a failure. On the other hand if the company is just 1 person, struggling for 2 years but the founder is happy. Its a success.”
These are just a few changes. As mentioned in the post more updates will soon be out.
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