Mumbai : Freemont Partners today announced that it has teamed up with the Centre for Innovation Incubation and Entrepreneurship at IIM-Ahmedabad to support them in various initiatives over the course of the next year.
CIIE also runs an incubation and venture seed fund that focuses on investments in the areas of Clean Tech, Healthcare and Technology. CIIE has various programs that are designed to foster and encourage the development of startups across the country. Through the Power of Ideas nationwide competition, talented startups are identified with 2012 edition receiving more than 14,000 entries. About 500 were provided mentoring through the MentorEdge program.
Freemont Partners will participate in this years' investor showcase and plans on providing seed capital funding to 2 – 3 startup-ups that have created Intellectual Property, can be scaled to operate on a global basis and have passionate founders.
Pranay Gupta, CEO of CIIE said "Helping our startups grow with the assistance of experienced professionals and the resources at Freemont Partners can truly enrich our program. Freemont Partners will assist in extending the reach of the incubation support of CIIE to other cities. CIIE and Freemont also plan to help each others' startups through sharing of resources."
Freemont Partners' Founder Vivek Mohan said "We are keenly interested in helping the creative startups identified by the different programs run by CIIE grow into successful business. We have participated in the MentorEdge program and now look to strengthen our involvement with CIIE. CIIE provides a strong platform for early stage startups to showcase their talent and we are eager to provide acceleration and seed capital to these deserving companies"
About Freemont Partners: Freemont Partners is India's first Global Incubator and Accelerator, which provides seed funding to entrepreneurs focused on technology driven start-ups. Freemont Partners provides mentorship, strategic direction and access to local and global CXO mentors and partners. For more information, visit www.freemontpartners.com