With over 50,000 government-recognized start-ups (and counting), the Indian start-up ecosystem has been on an unprecedented growth trajectory. Availability of capital, and thus Venture Capital (VC) firms, are an integral part of this success story. However, the role of a VC is not merely to provide capital. Visionary VC firms also provide a much-needed ingredient to start-ups and founders – Expertise. It is made available to founders throughout their journey in a variety of areas and in the form of professional networks, connections and/or dedicated mentors.
We, at IvyCap, have a unique and structured mentor model that provides execution, scale-up, and exit support to our founders. Our mentor pool has a blend of corporate executives and successful entrepreneurs who have traveled the entrepreneurship path before. Each Portfolio company gets access to mentors who provide dynamic tutoring for execution, scale-up and for helping with Strategy, Coaching, Capacity Building, Domain Expertise, Recruitment and Go-To-Market. Our mentors
Mentor Selection and Assignment Framework:
In our experience, when it comes to on-boarding and then recommending and assigning mentors to start-ups, the following elements come to the fore for VCs to consider. These elements need periodic monitoring to ensure their effectiveness at different stages of the start-up journey.
The next step in the process is for VCs to identify a mentor who fits the bill – from the available mentor pool or from a larger professional network. For IvyCap, besides the existing mentor pool, the Fund has over5,000 IIT and IIM alumni globally to tap into for support.
Given the pace of innovation and disruption in the start-up ecosystem, the role of mentors will only grow in the times to come. IvyCap already has quite a few examples of mentor-mentee success stories such as Purplle, Clovia, eShakti, and Lexir to name a few. However, this is just the beginning and we at IvyCap have a lot to look forward to in our quest to take our mentor model to a still higher orbit.