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JGI Ventures has launched a programme called “iDEA” (Incubating and Developing Entrepreneurial Ability) to foster entrepreneurship by incubating business ventures of students.
During the first 18 months of the 30-month programme, JGI Ventures will educate and groom the student entrepreneur on the ‘how and why' of business; it will incubate the student's venture in the 19th month, and during the next 12 months it will provide infrastructure support, advisory services, mentoring and coaching on key entrepreneurial aspects. The company will also provide networking, funding and customer acquisition assistance, a JGI Ventures release said.
JGI Ventures promoter Dr R Chenraj Jain said the programme was meant to mould the untapped entrepreneurial zest of young India. “Currently, lack of angel funding or early-stage seed money backed by professional guidance is preventing the growth of start-ups in India,” he said.
iDEA, he said, has tied up with ICGC Consulting, Germany, to provide hands-on experience to students of international business management. “The collaboration would facilitate student entrepreneurs to meet international venture capitalists, businesses, etc, especially those planning to expand here. Besides this, it is expected to enable students to get incubation support in Germany, China and Hong Kong,” he said.
He said JGI Ventures has already incubated 46 start-ups with a combined turnover of Rs 147 crore. It plans to incubate at least 500 companies by 2015.
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