EF will invest in each of the companies developed during its bi-annual Bangalore programme, apart from the monthly stipend paid to cohort members.
Entrepreneur First (EF), a pioneering UK based global talent investor, has entered India with $25 million, allocated from its larger fund, to promote tech startups in the country. EF also announced its first-ever Indian cohort of 50 founders who were selected from a pool of 900 applicants.
Of the selected cohort 30 per cent are PhDs from across various science and technology streams like aerospace, neuroscience, machine learning, electrical engineering, etc.
EF’s unique programme invests time and money in aspiring entrepreneurs, helping them to find a credible co-founder, develop an idea and create a highly scalable technology company from scratch. Each year EF announces two cohorts in each location and invites applications.
Each cohort member will be paid a monthly stipend of $2000 during the process of finding a co-founder and developing startup ideas in the first three months.
Esha Tiwary, General Manager of Entrepreneur First in India, said, “We have remarkable talent available in India. Through Entrepreneur First, we are trying to change the narrative for ambitious people in India who have thus far hesitated to start companies due to several reasons such as lack of a co-founder, no big idea, job security.”
EF’s bi-annual Bangalore programme
As part of its pledge, EF will invest in each of the companies developed during its bi-annual Bangalore programme that clear the Investment Committee, apart from the monthly stipend paid to cohort members.
EF focuses on deep tech companies that build on defensible technologies such as artificial intelligence, quantum computing, AR/VR, robotics, etc. In the past, it has funded companies across a broad spectrum of industries including space, satellites, medical devices, logistics, marine technologies, insurance, banking, fintech, education, agriculture and many more.
Finalized startups from EF Bangalore will pitch to well-recognized regional and global investors at Investor Demo Day in Asia this July. Also present on the Investor Demo Day will be startup counterparts from EF’s Hong Kong and Singapore programmes.
About EF’s Programme
Each year EF announces two cohorts in each location and invites applications. This is followed by interviewing, shortlisting applicants, and finally announcing a cohort. Of those who register, about 50 to 100 promising individuals form a cohort and are paid a stipend for the duration of the programme. These founders then go on to select co-founders and build companies with the support of EF. Selected companies get funded by EF and are also showcased to the larger investor community to raise seed funding.
EF claims that till now it has helped over 1,200 individuals build more than 200 companies, with a total valuation of almost $1.5 billion.