Nikhil Kamath and Kishore Biyani have launched an entity called The Foundery, also called a residential business launchpad where they intend to identify and also develop early-stage Indian startups. The Foundery is otherwise called a co-founder factory and is based on an innovative 90-day residential program in which entrepreneurs develop an idea and nurture it all the way until they have an investible business.
They align closely with the operators, investors, and subject matter experts to test an idea, develop products, analyze market fit, and form companies. The selected teams get to retain up to 25% equity in the startups that they help build. The startups that meet the in-house milestones receive seed investments up to Rs 4 crores.
The Foundery accepts applicants who are aspiring founders, new founders, or career-switching professionals. The admission criteria of The Foundery value problem-solving skills, creativity, and founder mindset more than other factors. The applicants of The Foundery have to go through rigorous assessment rounds.
Mentors at The Foundery are Vijay Shekhar Sharma, Kunal Bahl, Mithun Sacheti, Varun Berry, Rama Bijapurkar, and Aakrit Vaish, to name a few. Each year, the final sessions of every cohort end at a demo day where startups showcase their work to carefully assembled investors. With venture building followed by “School of Life” sessions for decision-making, resilience, and founder psychology, this program also looks to be an intensive experience. The Foundery will be a residential program.
