Saturday, 13 July 2024

Young Entrepreneurs Association launches Rs 50 Cr fund for Indian startups

Initiative aims to empower nascent startups, building on YEA’s commitment to upscaling and mentoring the young entrepreneurs

The Young Entrepreneurs Association (YEA) and Magnifiq Capital Trust partnered with Dr A Velumani to invest upto Rs 50 crore in Indian startups, handpicked and mentored by the latter.

Dr Velumani, creator of Thyrocare, as jury and investor in StartUp Tamizha, brings his vast experience and expertise as he plans to select, invest and guide the young companies with a potential to scale.

The announcement was made at YEA’S Annual General Meeting held on April 27th in Hyderabad, and reflects the organisation's ongoing effort to drive advancements in the startup ecosystem.

Seed-stage companies innovating in these fields are encouraged to apply. The application process involves a detailed proposal submission, where the applicants will undergo a thorough review, ensuring a fair and insightful selection process for prospective recipients.

YEA's history includes impactful investments in unlisted IPO shares in startups like Bira and Boat, and the association continues to provide one-on-one mentorship from YEA's members, many of whom are first and second-generation entrepreneurs. These mentors come from a plethora of industries, ensuring startups receive a wealth of knowledge and tailored advice.

Founded in 2012, YEA is an influential part of Hyderabad’s business scene, drawing members aged 25 to 45. The organization holds monthly meetings with around 85 entrepreneurs, emphasising a commitment to family-oriented business values. Members range from first to fourth generation entrepreneurs, contributing to a legacy of innovation and tradition.

Published on : 30th April, 2024