IvyCamp, is an Entrepreneur Ecosystem designed to create intellectual capital and innovation across India’s Educational Institutions and transform that into economic value that will shape Indian technology and economy.
IvyCamp, a platform created by IvyCap Ventures, has set aside a kitty of Rs 60 crore to invest in startups at seed and angel funding stages through premier institutes such as the IITs and IIMs in the country. They would begin their quest of identifying the potential startups for their investments from IIM Calcutta (IIM-C). IvyCamp and IIM-C will identify startups with sound business models through this alliance.
They are planning on engaging in activities like business plan competitions, training startups on pitching their ideas, access to funds and markets, etc. in order to promote entrepreneurial ecosystem in eastern India. They are also planning on setting up a dedicated office in the campus.
Whichever startup is shortlisted through their screening, will be eligible for funding available through both IvyCamp platform and IvyCap Ventures. Vikram Gupta, founder and managing partner at IvyCap Ventures Advisors Private Ltd. said,
“We haven’t seen any similar partnership by anyone else in the industry. This will be scaled up not just across India but across global campuses having similar approach to entrepreneurship,”
Not just that, this initiative will allow the students from IIM-C to get an access and exposure to the Ivy Camp network of mentors, investors, corporates and incubators.
Ivy Camp aims at replicating the same model across various premier institutes in the country. This will result in building a strong partnership with global institutes and engaging with incubators.
This looks like a welcome step for promoting startups in the eastern and north-eastern parts of the country. Setting up such initiatives will boost the startup ecosystem and will promote idea generation towards this direction.