Investpad and Starfish Growth Partners (SGPL), an idea-stage capital, incubation and accelerator advisory firm have announced a strategic partnership to fuel the next phase of idea-stage innovation in India.
With a commitment of $100 million+ over the next three years, this partnership claims it will give rise to an ecosystem spanning capital and fundraise advisory, business incubation and growth acceleration services.
The partnership has a double operating base of the US and Hyderabad, India, which gives them a unique vantage point to understand the lack of proper support that idea-stage founders need in developing markets like India, believes Philip Thomas, founding partner and CEO, SGPL.
“While India has seen major advancements in home-grown businesses making a mark on the global stage, we still are at a nascent stage when it comes to accelerating the right culture of innovation. A lot of bright founders with truly game-changing ideas are led to throw in the towel early,” Thomas said.
“This is not just due to the lack of capital but also the right support system that will help them navigate everyday challenges. We believe in evaluating every idea on the same baseline – potential to make real world impact at scale, technology immersion and addressing clear market gaps. Starfish along with Investpad will aim to channelising the capital resources we bring in towards fuelling many moon-shot innovations in the near future,” Thomas added.
While the innovation fund seeks to remain industry agnostic, there will be a special focus on verticals such as education, manufacturing, deep-tech, agriculture, fin-tech, healthcare and sustainability.
The fund aims to enhance its portfolio to around 30-35 start-ups over the next 13 months. Ticket size purely depends on the nature and need of the idea/business and will range from Rs 25 lakh to $10 million.
Sai Abhishek Rayarao, CEO, Investpad, commented, “With Starfish our track record of investments and helping ideas impact everyday lives of consumers has been very satisfying. We have worked with some of the most passionate and driven individuals who hustle to change the world for the better. I am sure this team will be able to attract more moon-shots and help them achieve escape velocity.”
“I have witnessed the power of the ecosystem in the US first-hand, and it is no surprise that the majority of tools we use in our everyday life stems from those communities. We want to build something that allows our entrepreneurs to thrive. Despite start-ups being a buzzword for many years in India, founders have to rely on funds from family and friends to begin with. We want to bring a seismic shift in the confidence level of deserving founders to bring their ideas to life,” Rayarao said.
Investpad claims it is disrupting the start-up ecosystem with its primary focus on idea-stage and early-stage investments that currently bridges the gap between US and Indian markets.
Established in 2016 idea-stage entrepreneurship incubator and capital advisor, Starfish Growth Partners has incubated more than 25 disruptive start-ups, raised over Rs 125+ crore in capital and has already helped more than 50 percent of their portfolio companies become profitable.
The strategic partnership between Invest Pad and Starfish Growth Partners further acts as a catalyst in helping achieve their combined goal of improving the success ratio of idea-stage companies, especially in India.
With this aligned mission and vision, together they are hoping to take multiple technology native, billion-user ideas to the next level.