Accelerator management company Applyifi and Launchpad Advisory have collaborated to launch accelerator fund Applyifi-Launchpad. The accelerator fund will provide Rs 75 lakh ($100,000) capital and deep-engaged mentoring to MVP and pilot-stage startups. It may also consider higher investments in some startups.

Claiming to be designed to help founders hit product-market fit and help raise follow-on capital, Applyifi-Launchpad will be a 100-day programme and consist of structured group learning sessions and startup-specific one-on-one interventions. It will support tech startups and any early-stage businesses that have the potential to create value.

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Vishal Khandelwal, Partner at Launchpad Advisory, said,

“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.”

Applyifi-Launchpad claims to have a component of deep-engaged mentoring customised for each startup to increase the chances of success of the startups they invest in. The programme also aims to provide startups with access to markets beyond what they feel are currently possible.

Speaking on the development, 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.”

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