Sep 14, 2011 -- posted by Navin
A friend on mine Rajat Mittal along with Nishant Singh have just launched a very nice initiative (incipiens.com) to help startups which are based in India. Having strong technical background and high proficiency in web technologies they are not only able to provide financial help but also perfect as mentors to critically look at your plan and help you when and where it is required. Here is a short summary about their offerings copied from their homepage
Over a year, we are offering funds of upto 1,000,000 INR to support upcoming web startups in India. If you are anywhere like us, you are already excited. This is probably as hacky as it gets to the idea of seed funding. We are excited to help you get off the ground. Our relationship will be based on mutual trust. Something similar to what you share with your family and close friends. The way we think about this, it’s less about money and more about being part of great ideas in the making, and discovering awesome friends on the way. We are more interested in the journey, the end we are sure, will be awesome!
So shoot us an email at email@example.com and show us a prototype. If we are on the same page as you, We will take care of the paperwork and you get upto 1million INR to spend as you wish, when you wish.
Typically, seed funding firms get upto 10% of stake in the startup. Since we are as new at funding as it gets, we’ll settle for something smaller. To us, the stake doesn’t really matter at this stage. As we said, we are in it for the experience and we hope you are too.
So if you are in India, bootstrapping your startup idea and strapped for cash, do check them out at incipiens.com and get in touch with them to take your journey forward.