Venture capital firm IDG Ventures India Advisors, has partnered with Unilever Ventures Ltd and Amazon Web Services Inc. (AWS) to launch an initiative to invest in startups.
Uniliver Ventures is the venture arm of consumer packaged goods company Unilever Plc, while AWS is one of the largest cloud infrastructure service provider globally. The newly formed team will invest between $500,000 and $5 million in early-stage tech start-ups of India.
As per IDG’s managing director Sudhir Sethi, the VC firm will invest in start-ups across consumer technology, software, health-tech and fintech over the next two months through the initiative called the Innovation Program. He said,
Typically, do entrepreneurs get decisions from investors in 30-45 days? No, but that’s what they will be getting in this programme. Conventionally, do entrepreneurs get the money in 60-75 days? No, but…