Posted by Bengaluru: CoCreate Ventures, an idea stage fund has acquired the Startupreneur’s traktor platform for an undisclosed sum. The acquisition will enable CoCreate Ventures to scale its operations and improve support for the entrepreneurial ecosystem.
Two alumni of the London School of Economics (LSE) Aakarsh Naidu and Adhikar Naidu co-founded the UK-based venture the Startupreneur.
Aakarsh was previously in charge of IIM Bangalore’s Startup Incubator. And Adhikar Naidu was handling the investments at Goldman Sachs prior to starting Startupreneur.
Startupreneur has been working towards transforming the early-stage startup ecosystem through its virtual incubation platform – Traktor.
The platform is intended to provide an end-to-end digital ecosystem for entrepreneurs to generate their idea, build a pitch deck, and receive mentoring, incubation, and funding support – all in a single place.
It addresses a critical gap in the first mile delivery of the entrepreneurship ecosystem where there is a lack of know-how amongst founders on tapping networks and resources to develop and launch their ideas into the market.
“The platform solves the fundamental gaps in the startup ecosystem by democratising opportunities for founders. It will help entrepreneurs build businesses ground up, tap into networks, and take their ventures to the next level. Our association with CoCreate will increase the reach of the platform and impact entrepreneurs at a larger scale,” said the Co-Founders of Startupreneur.
“This acquisition will fuel Cocreate’s mission to incubate, nurture and help student entrepreneurs build their businesses from an idea and scale it up,” said Suresh Narasimha, Managing Partner, CoCreate Ventures.
“We aim to build a cohesive virtual incubation platform and implement it across our venture studios, and partner with universities to make it accessible to each entrepreneur incubated,” added Narasimha.
CoCreate Ventures works through a venture studio model and collaborates with several universities.
Pre-Incubators like Nirmaan, IIT Madras and government organisations like Karnataka Digital Economy Mission (KDEM) have leveraged the Startupreneur platform to support their entrepreneurship and incubation initiatives.
CoCreate plans to invest in 50 plus startups over the next year with a ticket size of $200, 000 per startup. This acquisition will fuel CoCreate’s mission of creating better entrepreneurial ecosystems to produce unicorn startups from campus.