Mumbai: Yet another hope for startups. Former promoter of multiplex chain operator Fame India Shravan Shroff and former Starcom Mediavest Executive Ravi Kiran are launching a new startup accelerator VenutreNursery that will kick off its maiden 13-week bootcamp with between five and eight young startups.

Based out of Mumbai, VentureNursery aims at mentoring and accelerating up to a dozen startups in the first year. The startup will follow a unique Angel-in-Residence model, in addition to providing business and infrastructural support, it will offer intensive and immersive mentoring to a batch of entrepreneurs by active angel investors, throughout the acceleration process.

Their prime motive is to help founders of startups to refine their business models and enhance their chances of raising angel and seed funding. The qualifying startups for the bootcamp will have access to infrastructure such as office space, legal experts and accounting experts, branding and design professionals and even travel agents. The startup accelerator will kick start with focus on six sectors: media and entertainment, e-commerce, consumer technology, retail, cleantech and education.

Kiran and Shroff both have been active angel investors with organizations like IAN and Mumbai Angels, and have backed over a dozen startups between them.