iAccelerator

In many business and personal relationships how money is handled determines the nature and success of the relationship. With the iAccelerator we’re working with younger first time entrepreneurs, helping them to establish healthy relationships with investors and other stake holders who will play key roles in the companies success.

When we agree to work with a company and invest money into it, our first task is to get a legal corporate entity set up which can execute binding contracts with partners and to set up a company bank account. As soon as this account is set up we fund it with the full amount promised. This helps everyone associated with the company recognize how serious it is and how committed we are to its support. 

This doesn’t mean though that the founders have free reign of the upto 5 lakh now sitting in their corporate account. We work with the entrepreneurs to define a frugal budget which covers the foreseen expenses the company will face running its operations.  Together with the entrepreneur we charge a company secretary or chartered accountant with the task of making sure all bills get paid according to the budget.  This includes stipends, equipment purchases, travel, marketing and everything else. Changes to the budget will happen as the company develops a better understanding of their business and the costs associated with running it. Entrepreneurs will submit these changes to the board, and once approved the CA will write checks according to the new understanding.

The net effect of this is that while the company’s will be small and nimble when it comes to their ability to develop and respond to market challenges, they will have a big company feel as far as how their money gets handled and distributed. By puting these processes in place from the beginning we believe the companies that work with us will be more attractive to follow on investors who come to trust that all the companies we work with have sound financial practices.