Its really good to see a bunch of active initiatives and discussions around providing support to the young entrepreneurs who are just getting started.
The Morpheus (previously known as, Morpheus Venture Partners) is one such initiative. The Morpheus is a business accelerator and we work with companies at idea / early stage. Thus far in our Business Acceleration Program, we were investing only sweat capital. We did 20 deals in that model and have worked with a group of exciting startups.
Based on our work with these 20 companies we have raised a small corpus and will start investing INR 5 Lakhs (approx. USD 10,000) as financial capital, beginning with Batch 4 in Mar 2010. We believe that our Business Acceleration Program along with the investment could give enough momentum for startups to take off. However, we may not be the right partners for folks who are looking only for funding.
Click here to read the complete announcement on our blog. Last date to apply for the upcoming batch is March 10, 2010.
- Morpheus announces dates for next batch. To invest 5 L per startup - February 24, 2010
- Barcamp Chandigarh @ 22 Nov - November 18, 2009
- MVP – Announcing Batch 3 – New startups & new gang members - August 16, 2009
Here’s a brief about my start up:
The company will have 3 divisions – Business Consulting & Applications (BCA), Technology Solutions (TS), Product Development (PD).
The BCA div is partnering with ERP/CRM vendors – Sage & Microsoft Dynamics to cater to the domestic mid market space of manufacturing & services industry. The key differential will be the quality of services and the availability of the skillsets.
The TS divn will be addressing the MS technology based software development projects. The focus in domestic market will be govt. and industry verticals with no standard offering like textiles etc. TS will address the international market of Latin America, Scandinavian Europe, Africa, Far East and also North America thru the channel of system integrators and software development firms.
The PD divn will focus on two sets of products – 1) vertical addons for the Sage & MS ERP / CRM applications for the global market and (2) Innovative products to capture the ever growing young and highly paid urban middle class like personal finance and other mobile / web applications.
The core team:
Deb – CMD & Promoter
X – COO & Principle Consultant – Finance professional with 20 years in domestic business applications industry doing consulting and implementation services.
Y – Exe Director (Project Delivery) – With 10+ years experience of delivering application & software development projects in domestic, EU & US markets.
Z – VP (TS) – With 9 years extensive SDLC experience working with various MNCs in their offshore units in India. Leaving a plush job in NCR to join us in Bangalore.
A – Sr Cons (TS) – with 10 years experience in developing vertical products on Sage SDK and managing them, has decided to move in with us for our vertical initiative of Sage. He is currently heading the development team of the biggest vertical development partner of Sage with customers in India, ME & US.
14 others of functional and technical profile are joining us in the first month of operations. Looking at growing to total of 50 people by end of 1st year of ops.
The short term expansion plan – in talks with one mid size but successful partner of a top tier ERP partner focussing into real estate and auto dealership verticals. This will help to get access to that segment and the resources for expanding the international market base.
Long term plan is to create subsidiaries in Mumbai with a stake holder CEO from the industry. The core functional and technical team of Bangalore can be shared with the various subsidiaries. Similar talks are on in US as well where in the associates will create the company with our majority stake by the end of successful 2 years of our operations.