June 2022, Bengaluru- PESU Venture Labs , a partnership with PES University & CoCreate Ventures today announced that they will be investing in 50 start-ups. CoCreate partnered with PES University in 2021 and set up PESU Venture Labs (PVL), a concept stage fund and has invested in over 24 deep tech startups across sectors like weather tech, ed tech, and cyber security, crypto, and pet wellness. This initiative has proved that interesting and scalable startups can emerge from Indian Universities.
With the goal of identifying budding entrepreneurs and innovative startup ideas. CoCreate and PVL started programs like ‘Unicorn Launchpad’, which is a search for ideas from campuses that could be unicorns. These ideas would be assessed by VCs and analysts and would be built toward becoming a successful start-up. Another program ‘Venturethon’ is a month-long event where teams submit their ideas and these ideas would be assessed by a jury of VCs and analysts. Ideas & Entrepreneurs with the potential to create a large impact will be provided funding of up to $200K. They would also be provided with technology, GTM, Branding, or any other support that they would require. Some of the startups that were incubated last year that have reached interesting market traction include Fond, Assert, Seminar Room & Frizzle.
Suresh Narasimha, co-founder and Managing Partner of CoCreate said, “We are fascinated about the kind of ideas & commitment that we are witnessing from students. The support structure that we have created at PESU is enviable and aspirational for any startup founder & the kind of idea flow we see from students is unseen outside. We believe this is going to be the future of entrepreneurship & destination for the brightest students. “
CoCreate is on a mission to empower student entrepreneurs and help turn ideas into reality. The venture builder approach has been replicated by CoCreate Ventures in five other universities. The venture has been successful in building a strong network of entrepreneurs, venture capitalists, and mentors that can help any upcoming start-up scale up and reach the series A stage.