1. About NOW Venture Studio
In today’s world, rapid urbanization has led to various climate-related challenges, such as microclimates. These issues stress the need for innovative solutions that can tackle these changes head-on. Entrepreneurs play a key role in unlocking these solutions and driving change from the grassroots level.
However, entrepreneurs need more than just financial support. They require a partner and a nurturing ecosystem that can help turn their ideas into successful commercial ventures. NOW Venture Studio is a Sustainability Action Venture Studio dedicated to accelerating and de-risking the journey from idea to commercialization for deep tech or deep science-enabled startups in the fields of sustainability and climate tech.
Founded by Gayathri Kuppendra Reddy, an entrepreneur, trained climate leader, and active angel investor, NOW Venture Studio is led by a core team with over 40 years of combined experience in startup scaling, climate entrepreneurship, innovation, SaaS, and venture capital.
2. Why Choose NOW Venture Studio?
- Early-stage deep tech founders in the sustainability and climate tech sectors often face challenges scaling their innovative solutions in industries that are traditionally slow to change.
- NOW Venture Studio offers more than just financial backing. They provide a supportive ecosystem, acting as an ideal co-building partner for entrepreneurs aiming to scale their ideas into viable ventures.
- Under the model, NOW supports founders with finance, mentorship, assistance in finding product-market fit, access to market opportunities, and connections with climate tech experts.
- Globally, startups originating from Venture Studios have shown a 30% higher success rate compared to traditional startups.
- 84% of studio startups successfully secure seed funding, a rate significantly higher than the 25-30% for traditional startups.
- Moreover, 72% of studio startups advance to Series A funding, outpacing the 42% of traditional startups. These achievements are reached in a significantly shorter timeframe of 25 months, compared to the typical 56 months for traditional startups.
3. Who should apply?
- NOW is inviting applications from early-stage startups and aspiring entrepreneurs committed to solving and building critical areas of sustainability and climate. They can be researchers, students, industry professionals, first-time entrepreneurs, or repeat entrepreneurs.
- Applicants working across areas corresponding to reducing global carbon footprint and advancing environmental resilience, viz Built Environment, Industrial and Supply Chain decarbonization, Energy, EV and Mobility, Agri and Food, Circular Economy, and Low Carbon Materials, are invited to apply.
4. Benefits of the NOW Venture Studio
- Committed capital: Initial and follow-on funding ($250,000-$500,000)
- Pre-vetted market opportunities (White Spaces)
- Corporate partnerships for prototype/solution validation
- Access to Lab/Sandbox for quick experimentation
- Unparalleled access to a pool of climate tech experts
- Help in identifying potential co-founders and core team
5. How to apply?
NOW Venture Studio accepts applications on a rolling basis, meaning there is no fixed cohort model. This allows the company to tailor its engagement with each startup based on their unique requirements and journey. The company is looking for authenticity, new ideas with significant climate impact, commercialisation potential, and the potential to be a category leader.
Fill out the application: Click here
Applications Due: May 9th,2024 at 11:59pm IST
6. The Venture Building Process
Over a period of 60-70 weeks, NOW Venture Studio helps transform idea and concept into a scalable Sustainability and ClimateTech Venture. With a committed co-founding team, pre-seed capital, handpicked mentors, and corporate partnerships, NOW serves as strategic partner throughout the journey.
- PHASE 0: Ideate (4 weeks): Scope opportunity areas, evaluate, and refine venture hypotheses.
- PHASE 1: Validate (8 weeks): Validate the Desirability, Feasibility, and Viability of the idea.
- PHASE 2: Build (36 weeks): Incorporate company, Turn validated concept into Prototype/MVP, early client POC, and adoption
- PHASE 3: GTM and Fund Raise (12 weeks): Prepare Business Plan, Pitch & Raise funds
7. Capital And Shared Services
- Early Funding
- Product and GTM
- PMF Support
- Access to Labs
- Deeptech and Climate Experts
- Strategic Partnerships
- Finance and Legal
- Branding and Marketing
- Talent and HR
- Space