KOCHI: In a bid to promote startups, KITCO, is on the look out for angel investors for its ‘My Enterprises’ project. The project, launched last year, focusses on incubation and provides mentoring for IT and non-IT entrepreneurs. As of now, the project has helped many startups to take wings. Moreover, a string of innovative initiatives is in the pipeline getting ready for a jump start.
Startups like Valmiki.com, online publishers, and IMob technologies, the promoters of the advertising site Cashdis.com, have already been incubated.
“Entrepreneurial initiatives along the same line are in the incubator all set to go live and for that angel funding is imperative,” says Cyriac Davies, Managing Director, KITCO.
“We chose an idea or project on its meritn based on thorough market research; reason why most of our projects made a mark in the respective domains. Moreover, KITCO takes 10 per cent share in all projects; an added attraction for the angel investors to invest on such projects”, he adds.
According to KC Chandrasekharan Nair, Assistant Principal Consultant, KITCO, the project offers the right platform to people who are keen to be part of startups and technology companies but lacks the opportunity to identify promising and potential firms.
“Retired professionals, bankers, executives, businessmen etc can launch startups with minimum investment while opening up a new culture of entrepreneurship in the state,” he added.
KITCO is looking for investors who can invest around `5 lakhs to `25 lakhs. The angel investors get a share in the project tantamount to the amount they invest. Apart from providing seamless incubation and mentoring, KITCO offers the entrepreneurs fully-furnished offices with free wi-fi facility.