Frequently Asked Questions
Do we charge for our Education and Mentoring Services?
IITStartups is a 501c3 Non-Profit for Education organization and as such does not charge for any Education and Mentoring, nor does it take Stock Options from the Startups it assists.
Can any Startup join the Education and Mentoring Program?
EDUCATION: Anyone, anywhere in the world, can view our online Educational videos available in the Library section of our website.
MENTORING PROGRAM: The Startup must have at least one IITian co-founder. The Mentoring is provided to selected Cohort members who have met certain conditions to be assigned with a dedicated Mentor.
In which countries does IITStartups operate at the moment?
Currently we are confined to the Startup Eco system (Startups, Mentors, Investors) in the San Francisco Bay Area in California.
Startups operating out of the IIT Research Parks in India who have applied to us must have some co-founders and core team members in the Bay Area to be considered for being accepted in our Cohorts
What Services does IITStartups provide?
As of now we provide connectivity and guidance to reach the following milestones:
a. FUND RAISING: Education & Mentoring culminating in the Demo Day where the Startups are presented to the Investor Community (Angels & VCs) which enhances their chances of getting funded.
b. BUSINESS DEVELOPMENT: Connectivity to System Integrators (like
TCS, Infosys, HCL, Wipro, Cap Gemini) who plan to take Startups to their worldwide customer base where the Startups offering match the SI’s customer needs and the terms are mutually convenient.
c. DEVELOPMENT SUPPORT: Some of the SIs may offer their bench
strength to provide coding support to our Startups where the skills of the bench match the requirement of the Startup.
d. ACQUISITION: At each Monthly Mixer we have the venture arms of large ISVs make presentations about their Technology roadmap and their acquisition plans. Since most Startups chose the Acquisition route (as against an IPO) understanding the Acquirer’s needs will help them with
their Product Planning or pivots.
Can a person on an H1B be a co-founder?
Please consult a qualified attorney for an answer to this in the context of your specific situation.
Can the Mentors charge the Startups a compensation (Stocks or cash)?
The Mentors offer free mentoring to startups registered for a specific Cohort during the duration of the program through the Demo Day. If the startup wishes to engage the mentor for ongoing advice, coaching and/or mentoring, they are free to get into private arrangement which is outside the purview of IITStartups and it’s 501c3 non-profit status.