Working out of their beach villa community space in Candolim, Goa, build3, an impact-focused startup studio, helps startup enthusiasts and founders turn their impact ideas into a fully functional startup.

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An impact idea creates profit with purpose, and build3 does this through a hybrid of models in their studio, including the flagship ‘build3 impact Accelerator’ (biA) programme.

This 12-week flagship programme is specifically designed to propel these ‘entrepreneurship-for-good’ startups from the ideation stage to scalable ventures.

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Offering structured support through training, mentorship, and community, biA helps its participants refine their ideas into a strong business model with funding.

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Recently, they announced the success of their inaugural ‘impact Accelerator’ cohort, with five selected startups receiving funding for their impact ideas. build3 led investments of Rs 1.5 crore across these five startups.

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The investments were made in Ziti, a gig workforce platform powered by lead generation; Citraverse, an elderly-care platform; 18startup, which empowers college students with entrepreneurial skills; Neokul, an AI-assisted platform for future-first skills and employability; and GoodLives, an AI-enabled mental health wellness platform.

“We’ve invested in 12 startups in total, including the five from our first Accelerator programme. Working with us, new founders get a team of seasoned experts who have built their startups or who have been part of founding teams of other start-ups. Startups get access to resources beyond the build3 team to help grow their businesses,” says Varun Chawla, founder at build3 and co-founder at 91Springboard.

“We invest Rs 25 lakh to help newly-formed startups from our Accelerator achieve product-market fit (PMF). Once that is achieved, we provide follow-on funding of Rs 1.25 crore to scale further from there,” says Abhimanyu Rathi, co-founder at build3 and the primary force behind the Accelerator programme.

“Additionally, build3 has a robust network of value-aligned investors, venture partners, and mentors, who may be approached in case they need more funds, and a trusted list of vendors that help you sort out the nitty-gritty of the business like running your social media, proofreading legal documents, building your website, etc,” he added.

The objective is to ensure that the impact ideas coming their way become operational, and the selected ones for investment co-build with build3 gain “a large degree of financial and operational independence”.

With the success of its first cohort, build3 is now inviting 55 founders for Cohort 2 of the ‘build3 impact Accelerator’. This next phase promises to expand its reach, supporting even more startups to achieve their impact goals.

Applications close on 8 April 2024, and Cohort 2 starts on 1 May 2024. If anyone applies after 8 April, they will be considered for Cohort 3.

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