PW sets up a $5 million fund to support 100+ startups
- PW SOS is set to offer a comprehensive platform designed to prepare aspiring entrepreneurs for success in the dynamic startup ecosystem.
- The 1000 aspiring entrepreneurs enrolled in PW School of Startup’s Aarambh program will gain invaluable practical learning experience.
India, August 21, 2024: Physics Wallah (PW), India’s leading EdTech platform, that is on a mission to democratise education across Bharat, launched the PW School of Startups (SOS), under its PW Foundation. This innovative institution is designed to bridge the gap between traditional education and the rapidly evolving startup ecosystem, with a focus on entrepreneurial skill development. PW School of Startups offers a comprehensive platform for aspiring entrepreneurs and those with an intention to turn their ideas into successful ventures through cost-effective programs, practical training, strategic mentorship, and access to capital.
The Global Entrepreneurship Monitor India Report 2022/23 reveals that 75.5% of Indians see good business opportunities locally, ranking India 7th out of 49 countries. About 78% of the youth find starting a business in India relatively easy. India, now the world’s 3rd largest startup ecosystem, has generated 10 lakh jobs through startups till 2023, according to the Economic Survey. Notably, 48% of these startups come from Tier 2 and beyond cities, addressing local challenges in sectors like healthcare, education, and agriculture, showcasing India’s grassroots innovation potential.
The PW School of Startups is committed to preparing participants for the challenges of entrepreneurship by equipping them with essential skills, real-world experience, and a supportive community. PW SOS is incorporated with the mission of fostering innovation, creativity, and sustainable growth in the startup world. By joining PW SOS, participants gain access to a network of resources and opportunities that are crucial for entrepreneurial success.
Speaking at the announcement ceremony of the PW School of Startups, Alakh Pandey, Founder & CEO of Physics Wallah (PW) said, “I believe that progressing Bharat’s startup ecosystem can significantly contribute to our nation’s economic growth and see immense potential in the startups emerging from Tier 2 and 3 cities. These aspiring entrepreneurs possess incredible business ideas but often struggle due to a lack of guidance and the absence of a supportive community.”
Prateek Maheshwari, Co-Founder of Physics Wallah (PW) further said, “Through PW SOS, we aim to provide aspiring entrepreneurs with access to mentorship from seasoned startup founders and key figures who have successfully scaled organisations. Additionally, we’ve established a fund of USD 5 million, which will be used to support at least 100 startups over the next 60 months.”
PW School of Startups offers three distinct programs Aarambh, Prarambh, and Hopes Alive which are uniquely tailored for different stages of an entrepreneurial journey.
- Aarambh is a 5-day offline program designed for school students, college students, and early professionals. It focuses on accelerating growth by providing access to resources, and vital networks, and offering expert advice to aspiring entrepreneurs.
- Prarambh is an extensive 5-month offline program designed for college students, early professionals, small family business owners, second-generation entrepreneurs, and social impact enthusiasts. It emphasises business model development, branding, and budgeting, helping participants refine their ideas and manage their startups effectively.
- For those with some entrepreneurial experience, Hopes Alive is a 5-month hybrid program that is free of cost. This program is designed for seed-funded or bootstrapped startups from across Bharat and from various domains and sectors. The program provides financial resources, expert counseling, and valuable connections, helping participants scale their startups and achieve long-term success.
In the next 12 months, PW School of Startups will enroll 1000 aspiring entrepreneurs in Aarambh and 100 budding entrepreneurs in Parambh.
Corporate Comm India (CCI Newswire)
