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.