New Delhi: Gurugram-based start-up community builder and accelerator PedalStart, in collaboration with reputed venture capital firm FAAD Network, has announced the launch of their latest collaborative initiative a first-of-its-kind, sector agnostic cohort named ‘Gear One’ designed to accelerate and empower the entrepreneurial journeys of early-stage start-up founders in India. As a part of this exclusive cohort-based online program, 5 early-stage startups shall be selected, 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.
Notably, each start-up that gets selected for the upcoming Gear One cohort will be simultaneously securing guaranteed initial angel investment cheque of US $100,000, along with further commitment of upto US$ 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 US$ 50,000 of AWS, coworking spaces, payment gateway tools, etc., in addition to valuable connects and opportunities to network with numerous VCs, an esteemed curated panel of mentors whom they can onboard as advisors onto their captable, and of course, the fantastic opportunity to foster long-term connections with like-minded founders as peers in the cohort.
- 5 selected early-stage start-ups will be getting access to the cohort
- Each cohort startup gets guaranteed initial investment cheque of USD 100k, as well as follow-on funding commitment of upto USD 250k
- Selected startups to also get access to useful tools and resources in the form of credits worth USD 50k
Speaking about the cohort, Manas Pal and Aditya Darolia, Co-Founders of PedalStart said, “Following the phenomenal impact and success of our previous online cohorts like Zero-to-One, One-to-N, etc., we at PedalStart are now elated to join forces with FAAD Network to introduce our Gear One Cohort, curated for supporting innovative early-stage startups. 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. While the well thought out and structured journey of this program along with guidance and learnings from seasoned industry experts is bound to propel the startups in the right direction, on the other hand, the guaranteed funding of $30k and beyond offered to all the cohort startups comes as a cherry on the top, and will ensure that these visionary cohort startups must thrive, grow, and succeed.”
Aditya Arora, CEO of Faad Network added, “Our primary objective is to facilitate the successful launch, sustained growth, and scalable expansion of early-stage startups by providing them with essential resources and fostering valuable collaborations.”
Gear One represents Faad Network’s and Pedalstart combined commitment to supporting the advancement of the startup ecosystem in India. The program aligns with the organization’s mission to drive positive change and empower startups that are leveraging technology to revolutionize and contribute to the country’s sustainable development.
During the 3-months’-period of the upcoming Gear One cohort beginning April 2024 onwards, the 5 selected startups will be provided structured learnings, assistance and guidance from various program mentors including various successful ex-startup founders and domain experts. Moreover, in the long run, they shall benefit from PedalStart’s continued strategic partnership with FAAD Network, leveraging the latter’s expertise and resources. Even after the program completion, the cohort startups will be allowed to be a part of PedalStart’s wider community platform, and shall be receiving support from PedalStart and FAAD Network on their future fundraising endeavors as well.
Notably, the startups applying for Gear One shall be carefully screened and filtered by the PedalStart and FAAD teams through a 3-step intensive screening process, before onboarding only ten shortlisted startups for the cohort.
Applications for the PedalStart’s and FAAD Network’s Gear One cohort are currently underway.
About PedalStart:
PedalStart is a platform that solves a single major problem statement of the ecosystem: building startup founders. The platform helps build founders through their startup ideas, with the help of ex-entrepreneurs, successful startup founders, domain experts, and angel investors. The team at PedalStart uses real-life experiences over traditional theoretical knowledge, to build and empower startup founders. With more than 40,000+ startups having joined the wishlist, 20,000 hours of one-to-one brainstorming completed, 2000+ founders building ideas, and having managed cumulative $2M investments till now, PedalStart has been transforming big ideas into high-potential businesses since 2021.
About FAAD Network:
FAAD Network is a CAT-1 SEBI registered AIF that invests in early-stage start-ups across various sectors and geographies. With 2000+ Angels, HNIs, and VCs, FAAD has invested in over 95+ startups, with follow-on rounds in more than 55 per cent of its portfolio companies. Some of its notable portfolio companies include Blusmart, Battery Smart, Grip Invest, Kerala Banana Chips and others.
