Bengaluru, Mar 1 (PTI) Brigade REAP Director Nirupa Shankar today said on an average, the company is willing to invest between Rs 50 to Rs 60 lakh in any startup under India’s first startup accelerator programme, which focuses on the real estate industry.
“On an average, we will be willing to invest between Rs 50 to Rs 60 lakh in a startup under the programme,” she told PTI here.
However, Brigade may invest Rs 50 to 60 lakh in four startups or Rs 75 to Rs 80 lakh in one startup, depending upon the size of the funds needed, Nirupa said.
Replying to a query, Nirupa said “as of now the company has not invested in any of the five startups that have been shortlisted and inducted into the programme.” The programme was launched in October 2016 with over 125 startups applying for it.
Nirupa said the company doesn’t want to invest multiple crores in any one startup.
Earlier, the programme with a focus on real estate industry had its Demo Day or ‘Handover Day’, marking the completion of its first batch.
The day saw participation from representatives of the real estate industry who spoke about technologies impacting real estate.
The startups graduating from Brigade REAP made presentations on their business that included eminent developers from the Real Estate Industry, Investors, HNIs, other startup founders and top management of global corporates.
This is published unedited from the PTI feed.