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Launchpad Advisory and accelerator management company Applyifi on Wednesday said they have collaborated to launch Applyifi-Launchpad — an accelerator fund that will provide Rs 75 lakh ($100,000) capital and deep-engaged mentoring to MVP and pilot-stage startups. In fact, the accelerator fund may consider higher investments in some startups.

The Applyifi-Launchpad accelerator programme claims to be designed to help founders hit product-market fit and help raise follow-on capital. The 100-day programme will consist of structured group learning sessions and startup-specific one-on-one interventions.

“As a business house based in Madhya Pradesh, we are keen to support entrepreneurs also beyond the metros. Besides the initial capital via the programme, we can support startups with follow-on capital and access to a large investor base. In effect, we want to make it easier for startups to access the resources required for them to scale,” said Vishal Khandelwal, Partner, Launchpad Advisory — an Indore-based organisation focused on fostering entrepreneurship — and Managing Director of SS Global Group.

Applyifi Launchpad will support tech startups and any early-stage businesses that have the potential to create value. 

Prajakt Raut, Founder, Applyifi, said,

“The Applyifi-Launchpad accelerator will support any business that has the potential to create value. And hence, our model is geared to provide not just venture capital but venture debt and revenue-based financing.”

To increase the chances of success of the startups that Applyifi-Launchpad invests in, the programme claims to have a component of deep-engaged mentoring customised for each startup. While the programme for the first cohort is largely online, startups will get the full benefit of Applyifi’s proven methodology and framework.

Nitin Sarda, VP-Finance, Etisalat Group, and an advisor of Launchpad Advisory, said, “The programme is global in nature. We want to provide startups with the access to markets beyond what they feel are currently possible.”