A Start-up To Support Start-ups
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When one starts his or her own company what is one of his major assets? The entrepreneur’s idea. And these ideas are built into reality by his/her technical team, comprising the company’s senior management officials.
But what will be the future of the venture, when the technical team backs out, is one the questions that haunts an entrepreneur.
In a bid to provide mentoring and technical support to such entrepreneurs with an in-house team, Sandipan Chattopadhyay and Srinivas Koora started their incubation center called Xeplmoc.
In an exclusive conversation with Entrepreneur India, the duo shares their ideas, plans, and also talks about opportunities for aspiring entrepreneurs.
What’s in a Name?
When you hear a company name like Xeplmoc, you are surely either confused or curious about the title. But, see the company’s logo and you will realize that Xeplmoc is the reverse of the complex. Chattopadhyay said, “Our vision is to only reverse the complex procedure of starting up a company.”
“There are so many good start-ups out there that are unable to enter the mainstream market because either they do not have enough resources or they are not pedigreed enough. Xeplmoc is attempting to help them,” he added.
The Co-founders, who have been investors in the past, grouched about how an entrepreneur reaches to square one when his/her senior management ditches the venture.
“Xelpmoc helps start-ups under its portfolio with our own in-house technical team,” said Koora adding, “we do not just help the companies with ideation or business strategy or technology but act as the start-up’s co-founders.”
Seat on the Table
As a fee for the experience and expertise which Xelpmoc offers, the incubation center seeks a seat on the table. “We want to put our skin in the game. We will help the entrepreneur develop the idea into a company and in return, we ask for a seat on the table. We make money only when the start-up starts making money,” added Koora, who is the CFO of the company.
The idea is to help the society but not through charity but as profit-making company, added Chattopadhyay. Xelpmoc only assists venture that falls under sector or segments like logistics, foreign exchange, rubber, adventure sports, speech to text solutions, fintech, etc. Its portfolio includes companies like Fortigo, Mihup, Mad About Adventure, Jzeva, IFtoSI among others.
Speaking about opportunities which aspiring entrepreneurs can tap, the duo explains us about HEAL.
“Health, Education, Agritech and Livelihood are HEAL segments. Add multilingual feature, which would work online offline both. Reaching HEAL out to next the next 500 millions of Indians is where the next opportunity lies,” added Chattopadhyay.