When the initial boom has fizzled out and the list of first hundred customers has been exhausted, the question that remains is the sustainability of a business. Having a business idea is great, but how do you make it work? How do you know what its scaling-up capacity is right in the beginning? Is it realize-able, investable or scalable? Or let’s say is having a great business idea enough to guarantee its success?
This guarantee is what every entrepreneur who is starting out looks for, more so, in an economy like ours. Essentially, the function of an accelerator is to provide a business with the infrastructure, knowledge, expertise, guidance, services, connections and opportunities that help a startup grow faster and better by eliminating risks.
Espark-Viridian is one such accelerator that has taken a route to help resident-startups reduce risks. A joint venture between Entrepreneurial Spark, Europe’s most dynamic business accelerator for early stage and growing ventures with an 88% success rate; and Viridian Ventures, a venture catalyst in the startup and SME space in India, it aims to be a game changer in the entrepreneurship ecosystem in India.
It began its operations in India only a year ago and has already marked its presence in Noida and Gandhinagar with 25 graduated startups belonging to sectors ranging from tech to farming.
Now working in sync with the government’s growing support to young entrepreneurs, across the country, Espark-Viridian, has launched the #StartSomething initiative, under which it has expanded its acceleration programme to two new geographies- Chandigarh and Mumbai; and are inviting entrepreneurs to apply for their acceleration programme’s October batch at all four centres.
They invite successful entrepreneurs, industry experts and mentors to empower startups with both strategic and tactical know-how. They also conduct doing interactive sessions to enhance entrepreneurial skills like pitching, HR management, customer acquisition, marketing and much more, to transform ideas into investable, scalable and successful business models.
It establishes the ideological stand of not just building businesses, but also the people behind those businesses. Along-with the industry expertise and 23 on-boarded mentors from various fields, it has enhanced the acceleration experience by giving startups an opportunity to get enabled. Enablement is one of the core practices of this accelerator. The centre-enablers with a holistic knowledge of the startup ecosystem, master the process of starting up a business. They constantly track the progress of the start-up, from the moment it joins the centre, challenging, streamlining, directing and validating the startup’s business process.
Their vision is to ignite the Indian startup ecosystem by bridging the large gap between the need for new businesses to succeed and the actual success rates of entrepreneurs in India’s nascent entrepreneurship ecosystem. They do so by establishing sector-agnostic acceleration centres, in key start-up nerve centres across India, running their unique enablement program to develop entrepreneurs who have a #GoDo attitude and a clear sight on value creation, helping them shape their idea into an investable commercial enterprise.
The initial 45 days, focus on idea validation, during which the startups carry out the customer, product and market assessments. In order to get their business investor ready, the entrepreneurs need to first explore new avenues, analyse consumer need gaps and validate the product. This process turns the initial idea into a viable and feasible business model. 5 of the resident-startups have successfully raised seed-funding.
With this vision, Espark-viridian is expanding opportunities to launch entrepreneurs with a startup dream through the upcoming October batch. Apply now at: http://espark-viridian.org/apply-now/
Disclaimer: This column is powered by Espark-viridian