Startup guiding platform Applyifi and Indian Angel Network are joining hands to help budding startups grow and raise adequate amount of funding.
Applyifi guides startups in creating a comprehensive pitch deck, and provides startups and investors a 36-point scorecard and assessment report on the startup’s investment worthiness.
“Think of it as a GMAT score for Startups“, they say.
Applyifi assesses a startup and provides an assessment report that helps a startup to understand its shortc0mings, strengths and also help them in making an action plan.
Co-founded by Prajakt Raut, the platform after reviewing a huge number of startups has realized what a startup really requires and hence has collaborated to help startups raise up to Rs.75 lacs funding.
“Based on reviewing business plans of 1000s of startups, it is clear to me that a number of startups that struggle for months to close a Rs.3cr. – Rs.6cr. angel/seed round could actually do with Rs.50 lacs. – Rs.1cr. to take their venture to the next level. And they can close the rounds much faster and get on with their business, rather than struggling for months to close a larger round (as many often do),” said Prajakt Raut in a blog-post.
“For investors to be comfortable investing upwards of Rs.3cr as a first cheque in a startup would need the startup to have some amount of organizational maturity and some early-evidence that the concept, market opportunity, value proposition, pricing, business model, marketing program, sales program, product/service delivery, etc. are tested and that the results appear to be encouraging“, he added.
Indian Angel Network is amongst the top active investors group in India and looks actively for potential startups.