This Independence Day finally gave something to Entrepreneurs to cheer about. BootUpIndia was launched on 15th August 2014 on the eve of India’s 68th Independence Day. It is an initiative by iSPIRT which is looking out to help bootstrapped entrepreneurs and startups.
iSPIRT strongly believes that company building can take place both through Venture Funding and Bootstrapping. Though, in India the scene is a little different. The Venture Funding path is being overplayed by the incubators and media and due to this bootstrapped companies end up bearing the repercussions, but not anymore, because BootUpINDIA is here to redress this bias.
Now and then, it has been repeatedly proved that even Bootstrapped companies can also turn into successful companies. Some of the companies which have been able to turn it around are HappyFox, FusionCharts, Cosmic Circuits, Kayako, RateGain and BrowerStack. In fact, bootstrapped companies can also transform into Billion dollar companies, for example Zoho.
Venture Funding provides a startup with media validation which most of the times transforms into customer traction. A good VC also ends up getting access and mentoring to expert entrepreneurs in the portfolio of the VC. BootUpIndia is here to provide almost the same benefits to some selected bootstrapped companies. Their goal is to help these companies scale their game and become more successful.
The companies are selected through an awards process and the companies who make the cut are then provided with media coverage through Customer Impact stories, group mentoring from expert entrepreneurs and access to certified performance warrants for deeper customer relations, among other things.
BootUpIndia has a strong belief that their package can have a dramatic impact on the enterprise value of the selected bootstrapped companies, which in turn would help the software product industry to grow faster even with a limited availability of early stage capital.
The applications for the BootUpINDIA award are open till 15th September 2014 and the Award Day is scheduled to be held on 2nd October 2014. The BootUpINDIA awardees will get five things-Industry validations, structured group mentoring, media visibility, certified performance warrants and a lot of perks. The perks would include a privileged access to all other iSPIRT programs. In addition to that, the awardees will get access to co-working spaces and discounts from partners including Zoho CRM, Amazon Web Services and FreshDesk.