India is ripe with talent and opportunity, with some of the world’s best education and a technology sector estimated to be worth $1T by 2030. Entrepreneur First India has already seen huge success to date, having already funded 45 companies that otherwise wouldn’t exist. Those companies, including Fello, Medpay and Unbox Robotics, have gone on to raise funding from some of the world’s leading investors, and grown at lightning pace.
That’s why today, we’re announcing that we’re doubling down on our programme in India: to enable the country’s most exceptional people to build the next tech giants, and take them to the world. We’re unveiling a new leader, a new funding offer with greater investment allocation in the region, and a new global advisory structure for our next cohort, beginning April 2023.
Under this new strategy, we will be increasing our investment to $75,000 for each company we fund at Investment Committee, and also expect to double the number of companies we invest in annually in India. Alongside access to capital, we will also give founders access to a full global network of 60+ industry experts and advisors; successful operators and entrepreneurs who have built and scaled their businesses.
Commenting on the announcement, Reid Hoffman, the co-founder of LinkedIn and EF Investor said, “I’m excited that Entrepreneur First is doubling down on India.
The Indian startup ecosystem has already seen real success, but the best is yet to come. By investing further in the region, EF is going to play a key role in supercharging its growth.
The next generation of Indian talent has the potential to build the iconic companies of tomorrow. Access to EF’s community, funding and networks can make it happen. Entrepreneur First is bringing the best of its global network to India to enable the country’s future founders to take their ideas from India to the world”.
We’re also pleased to announce the strategic appointment of Rahul Samat as Partner and India Head. Rahul brings global expertise, hands-on experience as a founder, builder, and mentor, and a deep understanding of the Indian ecosystem. He joins Entrepreneur First following six years at Swiggy, where he created and grew their private brands business from pre-idea to a business unit that scaled into tens of millions of transactions.
Rahul has assisted many startups by mentoring and coaching them through their early stage product market fit journeys. At EF, he will enable ambitious entrepreneurs to unlock their potential, find the right co-founder, and apply their skills to some of the hardest problems faced today. Rahul will lead and expand our team in India to offer expert, end-to-end support to founders – from the pre-idea stage, to finding product-market fit, and raising funds through EF’s vast investor network.
“To realize the potential of India’s talent pool in the coming years, early-stage investment has to transform into early-stage support”, says Rahul. “In addition to providing capital, EF enables every ambitious individual to find their co-founder and build globally important businesses from scratch.
I’m excited to work with exceptional founders from India and help them along their way to creating global impact.”