G7CR Technologies Launches $5 Mn Fund For Startups and SMBs The fund will provide cloud funding to startups and small-medium sized businesses to overcome economic slowdown caused due to COVID19 pandemic
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Consulting and cloud service provider G7CR Technologies announced the launch of its Cloud Accelerator Funding (CAF) to support, sustain and empower startups to grow during economic slowdown caused due to the COVID-19 pandemic. The nobel initiative will provide startups and small businesses with benefits of up to $5 million. Apart from this, under this initiative G7CR Technologies will also offer assistance in building competency, revenue and technological areas.
CAF program is expected to leverage G7CR's existing channels and markets to increase the go-to-market strategy for the startups and SMBs who will be part of this programme and provide funding against cloud consumption.
Founded by Dr. Christopher Richard, G7CR has crossed INR 100 crore revenue mark in the beginning of this year. The firm not only has a presence pan-India, but also operates in markets such as the Middle East, the UK and southeast Asian countries.
Companies that are less than 15 years old and have a cloud consumption of over $10,000 per month or companies that have cloud expenditure among its top five expenses are eligible for the program.
Commenting on the initiative, Dr. Christopher Richard, managing director and chief cloud architect, G7CR Technologies, said, "We believe in excellence in innovation and want to extend our support to companies that are at a growing stage. The initiative will be a gamechanger for the immense growth prospects and for businesses that need a little cushion due to Economic Slow down. Empowering start-ups and SMBs are the core objective of this initiative, this will give them the power to recognise the importance of cloud. Our purpose is to support, sustain and help the start-ups in India to grow and achieve the global standards. Not only this will be beneficial for the health of the start-up industry but the Indian economy as a whole."