Sunday Tech launches start-up studio

The founder of technology startup Sunday Tech on Sunday announced setting up of the countrys first start-up studio, GenX Ventures, at an initial funding of USD 2-million for the aspiring entrepreneurs of over 40 years. Currently, there is no specific support system for mid aged career people above 40 years in their entrepreneurial journeys, it said.

The founder of technology startup Sunday Tech on Sunday announced setting up of the country's first start-up studio, GenX Ventures, at an initial funding of USD 2-million for the aspiring entrepreneurs of over 40 years. The Studio is looking to build 50 startups in the next three years with cumulative revenues of over Rs 500 crore and over 2,000 employees, the platform said in a release. It also plans to open up over 40 ventures that it has built from ground up internally for professionals to come on board and lead to scale, GenX Venture said.

Start-up studios are entities that create start-up ventures at scale. Unlike incubators or accelerators, they co-found ventures and build them from the ground up.

Globally, there is a tremendous shift in the approach of the people towards commencing their own businesses rather than just remaining employed anywhere. Many mid-career people are leaving their lucrative jobs to pursue entrepreneurship, the platform stated. This bodes well for India with its huge professional pool of talent that entered the corporate sector with liberalization and are now poised for their next challenge, it said. GenX Ventures will also focus on corporate hubs in Mumbai, Bengaluru and New Delhi to find the right aspirants with entrepreneurial ambitions and ideas to partner, according to the release.

Generation X (or Gen X) is a term used for those born between 1965 to 1980 and are now in their 40s and 50s. Currently, there is no specific support system for mid – aged career people above 40 years in their entrepreneurial journeys, it said. "The Start-up Studio has been specially designed to support and facilitate senior professionals who have rich domain and functional experience and wish to transition to entrepreneurship," Joseph George, the founder of the platform said. Currently, close to USD 2 million has been infused to put together the studio and backend support infrastructure, create the venture pipeline and to fund rollout and expansion of these ventures, the platform said, adding, GenX Ventures has also tied up with multiple funds to infuse capital as and when required by the multiple ventures it enables.

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