Finolutions Launches Finvolve in Partnership of India Accelerator
Start-up incubator and accelerator firm ‘India Accelerator’ has partnered with business consulting firm ‘Finolutions LLP’ to introduce a platform for start-ups funding education. The platform is said to have aimed at educating the wealth managers and investors about the benefits of investing in a start-up. It claims to be the first ever such tupe of platform to serve the Business to Business (B2B) start-up funding network. Moreover, it teaches users about Unique Selling Points, Profitability, Advantages and Risks attached with start-up investments.
Despite the surge that country has seen in terms of start-ups, very few of them were able to survive and make money out of it. Some surveys mention that only 10 percent of them were able to make it. A major reason for their failure is lack of a dedicated platform that offers mentorship and financial assistance. Finvolve claims to solve this problem by setting itself as the platform that start-ups need but lack.
Apoorva Vora, Co-Founder, Finvolve, while being bullish on the partnership said that Finolutions has a vast and rich experience in the wealth management industry. This reach has remained focussed on alternative investment space which can help us. “Finvolve is our next natural progression to unlock a new phase of growth for the start-up ecosystem which will stem from educating wealth managers on new trends unfolding in this space. Wealth managers understand the need to upgrade themselves, and this is what we intend to do. Our overarching goal is to reach out to wealth managers and empower them to encourage their end investors to invest in start-ups with adequate understanding. With better understanding, wealth managers can be instrumental in mainstreaming such investments from accredited and knowledgeable investors.”
As of August 2022, India ranks 3rd globally in terms of its start-up ecosystem, with 75,000 start-ups. However, wealth managers have not participated in this journey. There is a clear need gap for Finvolve to work with wealth managers and give them the right knowledge and tools to motivate their end investors to invest in start-ups. This will ultimately encourage young and innovative minds to start their ventures, with ample investment in tow.
Managing Director, India Accelerator, Ashish Bhatia, “Lack of guidance is one of the primary reasons why so many start-ups fail or are not able to carry out sustainable business for a longer period. This is where India Accelerator comes into the scene as an award-winning start-up accelerator which has supported over 150+ start-ups. Joining hands with Finolutions will further add to our expertise. They have vast experience as consultants for wealth management firms and we will conduct programs pan India for wealth managers and motivate them to convince their end investors to invest in start-ups. Wealth Managers have a very good influence on their end investors.”
“We aim to connect with over 1000 wealth managers in the next 12 months and will educate them about all the aspects of investing in start-ups including the risks. We have already started these programs at various centres and a good number of wealth managers are participating with their end investors too. We are quite hopeful that together we will be able to provide a sustainable environment for start-ups and help the nation with bolstered employment opportunities. Our motive is to democratise the entire start-up ecosystem,” he added.