The Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust Launch INR 500 Mn Fund for Indian Startups The initiative aims to empower nascent startups, building on YEA's commitment to upscaling and mentoring young entrepreneurs.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
The Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust partnered with Dr A Velumani (creator of Thyrocare) to invest up to INR 500 million in Indian startups, handpicked and mentored by the latter.
According to the official release, the announcement was made at YEA's annual general meeting held on April 27th in Hyderabad and reflects the organisation's ongoing effort to drive advancements in the startup ecosystem.
Subhakar Alapati, President of the Young Entrepreneurs Association, said, "Today marks a landmark moment as YEA turns the page on a decade of trailblazing entrepreneurship. This new fund marks a milestone in our journey to foster innovation and entrepreneurial spirit. Over the past decade, YEA has been pivotal in supporting startups through investments and mentorship, and with this initiative, we aim to further amplify our impact on India's startup landscape."
Seed-stage companies innovating in these fields are encouraged to apply. The application process involves a detailed proposal submission, where the applicants will undergo a thorough review, ensuring a fair and insightful selection process for prospective recipients.
YEA has a track record of making significant investments in unlisted IPO shares of startups such as Boat and Bira. Additionally, the association offers one-on-one mentorship from its members, a large number of whom are first- and second-generation entrepreneurs. These mentors come from a plethora of industries, ensuring startups receive a wealth of knowledge and tailored advice.
The Young Entrepreneurs Association (YEA) is a Hyderabad-based organisation that was founded in 2012 and brings together a vibrant network of innovators and business leaders. The goal of YEA is to promote a culture of development, mentoring, and cooperation by making networks, resources, and expertise more accessible.
