Infosys co-founders S D Shibulal and S Gopalakrishnan on Tuesday launched Axilor Ventures, a business a business incubator aimed at improving the odds of success of entrepreneurs and early-stage companies.
For the selected startups, the founders will co-invest through their individual funds. The quantum of investment will range from Rs 30 lakhs ($50,000) in the accelerator programme up to Rs 6 crore ($1 million) for early stage companies.
“Axilor aims at energising the startup ecosystem in the country by incubating ventures operating in the e-commerce, healthcare, life sciences, sustainability and clean technology space,” the company said in a statement, adding, “Axilor will focus on scalable, disruptive and technology-led business ideas from budding entrepreneurs and experienced professionals with entrepreneurial aspirations.”
In its initial launch stage, the incubator will run three programmes, namely Accelerator, Entrepreneur-in-Residence and Early Stage Funding Programme. Besides helping entrepreneurs and early-stage companies with funding, Axilor will assist them in other areas critical for success, which include infrastructure, mentorship, market access and talent.
Through its programmes, Axilor aims to build a platform for innovation and entrepreneurship that will benefit entrepreneurs. Axilor, through its partnerships, will also help entrepreneurs connect with innovation ecosystems outside India, the statement added.
The infrastructure to house the programmes is coming up in the City and the first batch of the accelerator programme is scheduled to commence in the first quarter of 2015. The applications for the programmes will be opened later this month.
Besides Shibulal and Gopalakrishnan, Axilor Ventures founding team also includes Srinath Batni, Tarun Khanna and Ganapathy Venugopal.
