Vimal Ambani has joined a newly founded incubator called Indus Mentors. As it is already known that, he is the nephew of Dhirubhai Ambani and the reason for the brand name Vimal textile.
About Indus Mentors
This company is found by Nadeem Jafri and Manasvi Thapar in Ahmadabad. Indus Mentors has been able to pull six mentors who will be providing their services to the start-up for a 5% equity share.
Members of the Company’s board
Ambani, Chandan Nath, previous head of Mudra communication, Sandeep Patel, head of Let’s Recycle, and Pavan Bakeri from Bakeri group are the other members of the board of the company.
India Needs Right Mentorship
Ambani, is currently holding the managing director position at Tower Overseas and previously was the chief executive of textile division at Reliance Industries, said that, “We saw scores of incubators cropping up across the country and though they had everything in terms of infrastructure, the access to the right mentor eluded them”.
He additionally said that, “Even though I have informally mentored many new ventures earlier, this would be my first formal foraying into the startup space”.
As per him, the current Indian Startup ecosystem is currently surviving with the lack of righteous mentorship which is a very essential point for reducing the number of entrepreneur failures.
Finding a right mentor is a great challenge
In this context, Thapar, cofounder of Lothal Ventre which is an angel investor’s network, said that, “Finding a right mentor is a great challenge for a startup”.
The concept of the incubator is to allow both the parties i.e. the mentor and the mentee to work together and come up with solution to check whether the business model would be fruitful or not.
Mentor’s acceptance leads success of startups
As per his understanding, a mentor’s acceptance is a key factor for the success of any start-up. In fact, it would be more appreciable for the mentor if he invests his most of the time to nurture and configure the startup with perfect guidance towards growth.