Community-based builder and accelerator, PedalStart and VC firm FAAD Network have launched sector agnostic cohort named, Gear One. The aim of the programme is to empower the entrepreneurial journeys of early-stage start-up founders in India, Gurugram-based accelerator said in a release.
The programme will select 5 early-stage start-ups who will be gaining access to high-quality mentorship and acceleration support, game-changing resources, lucrative networking opportunities, supportive community, and last but not the least, guaranteed angel funds to supercharge their entrepreneurial journeys from the idea validation/proof-of-concept (POC) to the minimum viable product (MVP) stage, the statement added.
Notably, each start-up that gets selected will be simultaneously securing guaranteed initial angel investment cheque of $100,000, along with further commitment of upto $250,000 via a follow-up round (pre-seed/seed funding round) enabled by PedalStart and FAAD Network. The cohort start-ups will also be getting access to resource-linked credits worth $50,000 of AWS, coworking spaces, payment gateway tools, etc.
Speaking about the cohort, Manas Pal and Aditya Darolia, co-founders of PedalStart said, “This strategic move represents a significant step forward in realizing our collaborative endeavor and shared vision to catalyze the early-stage startup ecosystem in the country. Through the Gear One cohort, we would be focusing on a tri-dimensional approach, which encompasses acceleration, funding, and community, thus leaving no stone unturned to fuel success for our selected cohort startups and entrepreneurs.”
Applications for the PedalStart’s and FAAD Network’s Gear One cohort are currently underway.
