Technology start-ups tend to be a group of technology professionals with little business experience. Further, the start-up environment can be significantly more hostile in a developing economy, where services remain inadequate, inaccessible or expensive. The diverse nature of modern tech startups means a higher demand for flexible starting points. Inexperienced entrepreneurs may not always realize it, but they need solid direction in order to succeed. The business world is challenging and, at times, unpredictable, and without a keen mentor to direct their energy, they may end up fizzling out before striking success. Furthermore, inexperienced entrepreneurs may have more difficulty locating initial resources to build momentum.
Padup Ventures provides virtual incubation programs for “disruptive & innovative technology” based early stage start-ups to build a sustainable business model.
Padup Virtual Incubation Program increases survival rates dramatically with its well-conceived program as it is a unique combination of all aspects of an incubator and an accelerator with a well-defined process. Padup Ventures is re-defining incubation with it’s a deep mentoring program with well-defined processes, followed with discipline. This not only ensures a higher success rate, it but also has some very relevant lessons for new entrepreneurs:
Genuine Entrepreneur: Not everyone is meant to be an entrepreneur. Padup helps entrepreneurs determine whether or not they are absolutely ready to build a business from scratch by doing, learning, pivoting and managing innovation.
No Idea is perfect: Once validated through an intense Bootcamp to uncover flaws and establish do-ability & the technology point of view, “Padup’s” incubation program helps fix various missing links in entrepreneurial ideas.
Getting Help is a must: There are hundreds & thousands of entrepreneurs in the country who realize that Mentors play a vital role to start, survive and sustain a startup. “Padup” provides a structured mentoring process along with able mentors to help and handhold startups in their journey.
Resources are valuable: Learning first-hand from Mentors how to access precious resources & preserve them will help plan the business more conservatively as a business person.
Doing is more important than planning: Padup Mentors are hands-on and help in making things happen for others, to see and value it as most of the time, the idea is there for a while, but nothing gives more insight about it than seeing it come alive and experiencing it.
Funding requires evidence: Padup helps demonstrate the real value of the idea being pursued by showing traction in numbers as it prepares the entrepreneur to make rational decisions with long-term vision & setting for the direction of the business with the big picture in mind. With this, fund raising becomes a real possibility.
The overall success rate can be astonishing, considering that most companies come with little more than a laptop and a dream.
Padup is building a Startup Ecosystem with the following critical factors:
A Strong Mentorship Driven Program that ensures a higher success rate for Startups
Entrepreneurs will learn more from Mentors, each other, and other businesses, than ‘Consultants’
Well-customized programs that are sustainable and independent
Strict entry criteria (focused on innovation and implementation) to ensure high success rates
Investors/entrepreneurs seeking to make equity investments shall be leveraged as mentors
Businesses seeking future clients shall provide discounted professional services
Strong founders monitor both mentors and companies
Engage managers who have entrepreneurial experience and can ‘relate’
Shall create a climate of collaboration and networking from the start
Well oiled sourcing and screening platform for start-ups through a Bootcamp
Founders are serial entrepreneurs & industry stalwarts as business & domain mentors
Brand being built in the area of focused mentoring to create quality “curated" Start-ups
Mature process stack. Ability to deepen focus on any desired vertical
Significant risk reduction for partners & investors as venture goes through intense selection and mentoring process
Long term mentoring and network access to maximize the value creation potential