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Bangalore: SnapFish Co-Founders - Bala Parthasarathy, Sanjay Swami and Shripati Acharya launched a unique "incubator" that is set to launch various startup companies. Bringing in together both ideas and entrepreneurs, they also intend on providing much mentorship and seed capital to experience success. All the three have a proven track record in their respective fields by starting ventures from scratch. Both Parthasarathy and Swami are the founders of a photosharing company SnapFish, which later became the world's largest site for photosharing which had gross revenue of $600 million. They later sold it to Hewlett Packard for $300 million. "Angel prime's motive is to use the "lean startup" model in bringing in together highly talented entrepreneurs, mentor them through the process of taking an idea, prototyping it, validating the market, building a customer base and in 9 to 12 months raising institutional investment for the business," said Bala Parthasarathy, Co-Founder of Angel Prime.
Acharya mentioned that they were really happy to help the entrepreneurs in developing ideas that challenge the status quo. He also added that they would provide hands on help in technology, marketing, sales and business development until the companies are self sufficient.
According to Swami, Ex-CEO of mCheck, they would be launching a mobile based payments company in 30 days and another smartphone/tablet based Ecommerce Company in 90 days. Raj Mashruwala, founder of Tibco and Consilium, who will be joining as the lead investor for Angel Prime and one of the members in the board of directors.
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