Continuing our series of iStart initiatives in Rajasthan, with Udaipur being our focus, we are pleased to share information on the iStart QRATE program, which was launched earlier this month. A super initiative for startups, this programs lays down a focused and structured approach for startups primarily for access to VCs and Angel investors.
Qrate is a State‐endorsed rating of Startups in which detailed scorecard and assessment report for startups on multiple parameters will be provided. These rating cards is based on score achieved and then the startups will be ranked as Bronze, Silver, Gold, Platinum and Signature. This will allow direct connect with VCs and Angel Investors with a pre-defined standard structure. Thus, tangible commitment of mapping startup rating and indexing with Funding to be obtained.
There are now more ways than ever for startups to find and connect with investors, through in-person events and online deal-closure platforms, but this also means that investors are seeing more companies than ever before.It is important for entrepreneurs to catch their attention as they may only have one chance to make a good first impression. Many startups reach out to investors before they even know how to make a sound and compelling investment case for their business and how to articulate that. Often even strong entrepreneurs with good ideas miss an investor’s attention, as they fail to present a compelling case to investors.
Therefore, iStart Rajasthan’s Startup Scorecard provides entrepreneurs a detailed assessment report on their startup’s potential and investment worthiness. It is much like a health check-up report from a diagnostic lab helps you identify problem areas and take corrective action to improve your health. The scorecard and assessment report provides startup founders actionable insights to help them strengthen their business plans and improve their chances of getting funded.
Since most startup pitch decks and their investment needs plans are not fully ready for funding, iStart Rajasthan team will work with shortlisted startups to help founders think through their business strategy, go-to-market plans, funding needs, help them in strengthening their plans & investor pitch decks.
STARTUPS THAT SCORE ABOVE 60% WILL BE INVITED TO JOIN THE RAJASTHAN STARTUP ASSISTANCE PROGRAM WHERE IN THEY GET THE FOLLOWING:
- A two-day workshop to get a sharper understanding of different aspects of building a business.
- Based on the assessment report, a detailed action plan will be worked out for each startup on how to improve their chances of success.
- A month-long engagement with experienced mentors and startup experts to help startups refine their business plans and investor pitch decks (may be extended on a case-to-case basis)
- Weekly review with our team to assess progress on the milestones set, and the assessment report indicators.
- Assistance in rehearsing their investor pitch presentation
QRATE program will, hence, help you share your profile with investors and help you connect with more VCs and investors. So join QRATE and increase your chances of success and funding.