Being a young business is hard. Surviving through the first three years is in fact the hardest. If you ever manage to pass the three years litmus test, that is when a business’ real journey starts. In order to help early stage startups in their journey, Bengaluru-based Startups Club has decided to launch a special vehicle called SC Incubator (SCIN) that would be working towards incubating, investing and accelerating early-stage startups over a 12-month period, according to a report in Inc 42.
For the uninitiated, Startups Club is an Open Inclusive and Collaborative platform for startups from Napkin Stage to Growth Stage. Currently present across 20 cities, the platform has successfully conducted more than 500 events and mentoring sessions for startup entrepreneurs. The club claims that these sessions have helped some 100 odd Startup founders in their entrepreneurial journey.
According to Startups Club, their main aim behind setting up SCIN was to fill the currently present gaps in the mentoring programs in the startup ecosystem. In order to become a part of SCIN, a startup should not be older than five years and it must have a valuation of less than Rs 10 crore ($1.56m).
As per the initial plans, SCIN is planning on taking in 10 startups annual. It has plans to scale this figure subsequently. The vehicle will have a pan-India character and will cover as many industry segments as possible.
SCIN’s concept has received a big thumbs up from the startup community as four startups have already signed up to go big with Startup Club’s newest venture. The four signed up startups are: Vellore,TN-based hardware startup, Vicara; Bangalore-based intelligent technology solutions startup for the retail sector, Grabbngo; Vellore-based personal care products maker, Renaura, and Foxity, a tech startup developing solutions in the night-life entertainment space.