Lightspeed, a multi-stage venture capital firm headquartered in the US, has announced the launch of the first batch of startups attending Extreme Entrepreneurs (EE), an accelerator designed for “outsiders” of the startup ecosystem.
EE is a 6-week long online training programme that charges zero equity and fees for participation. The programme has no strict selection criteria and is willing to accept startups in all stages, even founders with only crazy ideas and no prototype.
According to a statement, “the only selection criteria for EE is whether the founders will benefit from and make the most of the opportunity”.
However, if a startup is looking to receive a cash hangout or grant, this might not be the ideal programme for them, as no such promises are made.
The programme will involve mentoring, learning sessions, coupled with a series of online community events.
Some of the top tech mentors who will be providing mentorship are Tony Fadell (iPod inventor, iPhone co-inventor), Ming Maa (President, Grab), Ryan Roslansky (CEO, LinkedIn), Byju Raveendran (Founder, Byju’s) and Balaji Srinivasan (ex-CTO, Coinbase).
“More than 1,200 teams applied from across India, Singapore, Vietnam, the Philippines and Indonesia and the finalists were chosen across four gruelling rounds by our investment team. In particular, we are delighted that six teams have at least one woman co-founder. EE 2021 is bigger and better. It is 100 per cent online, which eliminates geo boundaries completely and allows the program to expand to founders anywhere,” Vaibhav Agrawal, Partner at Lightspeed, said.
Below are the brief profiles of the four startups selected from the Southeast Asia region:
A lightweight mobile platform that modernises traditional human capital workflows for MSMEs.
A content network that rewards users for their time and attention.
A provider of B2B2C income streaming solutions that empower employees to get paid on-demand while helping employers improve retention and employee engagement at work
A knowledge-based social network, enabling sharing of bite-sized knowledge about work and life through short videos.
Below are the brief profiles of Indian startups attending the programme:
Analytics on natural language to help product teams learn from large scale customer feedback
A digital university that allows individuals to learn digital skills online
Enables credit-as-a-service on consumer-facing apps in a plug-and-play fashion
A neighbourhood one-stop store for home and personal need products
A live quiz game show app for new-gen Indians to connect and compete with friends
Economize helps companies analyse, manage and optimise cloud expenses
A micro-mobility platform that provides tailor-made end to end solutions for running businesses based on mobility of goods or people
Provides 100 per cent plant-based substitute for liquid egg
A B2B agritech platform for SMEs
Designs fitness and nutrition plans for young women who deal with hormonal imbalances
A platform where women can get tailored outfits stitched from their homes
A contactless payments app
Professionally managed and serviced student housing for university students in India and Singapore.
Image Credit: Lightspeed.
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