CoWrks Foundry, the mentorship program for startups, plans to incubate two cohorts of 8 startups each every year. The first cohort will be initiated in May.
Shared working space startup CoWrks, a unit of Bangalore-based commercial real estate developer RMZ Corp, is now dabbling in mentoring and incubating early-stage startups.
CoWrks Foundry, the mentorship program for startups, plans to incubate two cohorts of 8 startups each every year. The first cohort will be initiated in May.
“The vision is to forge resilient and unsinkable businesses. The program will nurture early-stage startups over a 24-week period in the areas of Urban Tech, Enterprise Tech and Social Enterprise,” Sidharth Menda, CEO of CoWrks said.
The company has roped in several individuals as well as institutional investors to fund the shortlisted startups with a seed fund of USD 30,000 each in return of equity.
“We are sitting amidst more than 100 Fortune500 companies. We have the resources to create a solid go-to-market strategy for the startups that are solving unique solutions. Leveraging our global network of enterprises and also our other clients will be a much-needed impetus for them,” Menda added.
The company has constructed a comprehensive curriculum for the startups, which will train them in handling investor pitches, dealing with specific investor queries, setting up of legal and company policies, and so on.
“We’ve intentionally selected these three major sectors as they face industry-specific issues that are not addressed by existing mentorship and accelerator programs in the country,” Managing Partner of The CoWrks Foundry, Nruthya Madappa said.
