It is a fast-track funding initiative that will get each selected startups around US$ 500k – 1 Mn in funding, followed by a 60-day accelerator. The chosen startups will get a term sheet within 30 days of the application deadline viz. 9 June, 2024.

Applicants need to fill this form here which will require approx. 15-30 minutes to complete. No direct applications will be entertained during this period. 

Velocity is primarily for startups in the DeepTech domain that use technologies such as Artificial Intelligence, Machine Learning, AR/VR, Autonomous Systems, Developer Tools, Enterprise SAAS Technologies, Electric Vehicle, Battery & Charging Systems, Electronics System Design and Manufacturing (ESDM), Genomics, Hardware, Industrial IoT, Materials Technology, Quantum Computer, Robotics, Wearables etc.

However, we are also open to investing in audacious entrepreneurs: change-makers using a tech-enabled approach to solve real-world problems.

We are looking for startups across various stages – starting from a Minimal Viable Product* stage – upto those that are in an early stage and are generating revenues. 

(* Minimal Viable Product is a stage wherein the product/solution is ready for early customers who would be able to give useful feedback. Companies that do not have a Minimal Viable Product ready and have not provided their product/solution for pilots to early customers should refrain from applying.)

Yes, startups must have a certification from DPIIT, or should have already applied at the time of filing of the application.

Yes, the startup should be incorporated in India.

Yes, however, its chances of selection may be reduced.

It means that a product/service is not restricted to a particular market and can expand to multiple geographies outside India.

Yes, such startups can also apply to the program. We always encourage co-investors so that a startup has access to a larger pool of capital as it grows.

Yes, you may apply again – but only if there have been any significant changes since the last time you applied.

No, your application will not be considered. All applications must be submitted via this link

Depending on the funding requirement of the company, the selected startups may receive funding of around US$ 500k – $1Mn. This funding is normally milestone-based and released in the agreed number of tranches.

The deadline is 9 June, 2024 at 12 midnight IST.

Call for Applications: 21st May – 9th June

Cohort Finalization: 8th July

Acceleration Program: 1st August – 30th September

Stage 1 : Selection of applicants will be on the basis of the Initial application form 

  Stage 2 : Selected applicants will be then required to fill a detailed questionnaire.

Stage 3 : Basis the details provided in the questionnaire, calls/demos will be scheduled

Stage 4 : We may call for more information basis our findings during calls/demos

Stage 5 : If your startup has passed the above stages, we will set up meetings with the partners at YourNest to evaluate you on your entrepreneurial and leadership skills.

Stage 6 : If all goes well, we would issue a term sheet that will have all the legal/commercial aspects covered.

Stage 7 : An external third party will conduct due diligence. 

Stage 8 : If the due diligence report is clear, and all the commercials and legal have been agreed to, we shall sign the Shareholders’ Agreement. Post signing of Shareholders’ Agreement, the funding amount will be allocated.

Velocity team will communicate the result directly via email after the end of each round to all the eligible startups.

Shortlisted founders, at each stage, will be contacted for further evaluation.

If you receive a rejection email, it does not mean that your venture is not worth funding but that it does not meet with our investment thesis and criteria. We would encourage you to persevere and search for funding elsewhere.

Post the deadline, we shall evaluate each deal and communicate via email whether a startup has progressed to the next round or has been rejected. We will be sending you an email in both the circumstances i.e. at the time of rejection or when a startup progresses to the next round.

The final selection will be communicated to the startups within 30 days after the deadline of application on 9th June, 2024.

Selected companies will receive a term sheet from YourNest. The required investment amount will be disbursed to the company after due diligence. The timeline for the disbursement of funds will depend on the findings from the due diligence process.

The selected founders will be mentored by the partners at YourNest who have experience in technology, strategy, financial management, global operations, etc. In case you need more specialised mentoring, we have an extensive network of mentors and advisors who are experts in their own fields.

If the startup performs, grows, and meets targets consistently, YourNest may participate in the follow-on funding rounds with even larger cheques.

The eco-system partners will not be participating in the funding round. However, some of them may contribute through rewards like free credits to access their platforms/software.

Yes, You can email your queries at help@sanchiconnect.com
Note: Any applications sent directly to the above email-id will not be considered for the Velocity Program

We are a founder friendly program & do not charge any program fee from startups. We do reserve right to invest in each selected company at partly paid equity.

The program is intended to assist founders in the early stage in developing a successful business through:
– Collaboration/ Partnership with ecosystem partners
– Learning from Founders
– Mentorship around IP frameworks, & relevance, compliances, roadmap to $10 million ARR