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QRate

QRate

QRate: Is an assessment program which provides a detailed report on the startup’s potential and investment worthiness. Much like a health check-up report from a diagnostic lab, the assessment report “scorecard” provides startup founders with actionable insights to strengthen their business plan and improve chances of receiving funding.

QRate is a combination of 3 key components to help startups increase their chances of success, and of getting funded: Startup Scorecard, Skill Building & Fundraising Assistance

The startup assessment starts with online application (business plan) by registered & recognized startup on the iStart portal. A suggested template of the business plan is available on the portal for the startup to refer and prepare its deck.
sample QRate pitch deck
The application is assessed based on multiple parameters of business and provided with a detailed QRate Card (Scorecard) and assessment report on their strengths and weaknesses within 15 working days of the submission. The startup will be eligible to apply for re-evaluation.

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1. Startup Scorecard (Assessment & Rating of the startups on various aspects of business): Startups are assessed on multiple parameters of business and provided with a detailed QRate Card (Scorecard) which includes an assessment report on their strengths and weaknesses. The major parameters for the evaluation include the following:

Concept, product, and service of the business plan
Revenue streams, pricing, and business models
Prioritizing market, with a well-defined expansion plan
Customer experience management
Product and service design

Market potential and size
Cost structures
Business case
Marketing planning
Sales planning and sales program design

2. Skill building program for startups: Aimed at significantly improving the chances of success of startups. Enabling entrepreneurs via structured access to capital and potential customers is a powerful proposition, and one that equally benefits startups, investors, corporates, and the broader startup ecosystem in the state. Skill building will help entrepreneurs become better prepared for business, and for fund raising. The next step after generation of the “Startup scorecard” shall be to help startups identify problem areas and offer corrective actions to improve the health of business via below mentioned activities:

Bootcamp(s): Organize boot camps aimed at refining product, strategy, business plans, market position and to help startups work over their shortcomings and limitations. The Bootcamps shall enable rigorous, immersive, collaborative, action learning experience of enterprise creation to the participating startups. The multi day activity shall be conducted through online-lectures followed by an offline session (if required). The objective of the Bootcamp(s) is to impart practical insights to the participants about the nuances of enterprise creation and help them.
Capacity Building Workshop(s): Workshops for startups focusing on developing skills, providing resources, and other areas of interest to all startups, such as pitching to angel investors.
The mentoring clinics, include, organizing workshops, group learning sessions using a proven curriculum and aiding in preparing investor pitch presentation. Since most startup pitch decks and their investment needs plans are not fully ready for funding, the team shall work with shortlisted startups to help founders think through their business strategy, go-to-market plans, business case and funding needs, and help them in strengthening their plans and investor pitch deck.

3. Investor Connect: To streamline the deal flow pipeline and make startups business ready & improve their chances of success, the program shall enable networking and facilitate connect with VCs and Angel Investors via a predefined standard structure.
As part of the Investor Connect, the partnerships are being done with various venture capitalists and investors from across the country which shall help us in showcasing the startups that are business ready to potential investors.

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