DotZero has launched an Angel Fund for pre-revenue and early revenue startups. The privately funded co-working space and incubator has already invested in 6 startups and is now looking to expand its investment portfolio.
What Are the Requirements?
While DotZero Ventures isn’t setting all requirements in stone just yet due to entrepreneurship being in the nascent phases in Pakistan, there are three major considerations for startups to be eligible for funding.
- Young startups: Early stage startups that have proven their products or services have mass appeal through pilots.
- Key Focus Areas: The focus areas for startups that’ll be funded are Fashion/Retail, E-commerce/Internet and Technology.
- Location: Preferably located in Karachi to get hands-on training and mentorship. However, DotZero Ventures is open to working with startups across Pakistan. 2 startups in their current portfolio are located outside the port city.
startups that are already been funded by DotZero
What’s the Process?
To start off, you need to show the DotZero team that your idea is valid and has mass market appeal. Ventures is perfect for founders who are looking for growth stage capital.
In the first two weeks, DotZero would interview, interact and validate the founding team. References would also be checked at this stage. Most importantly, the product or service will be extensively tested.
Agreeing of terms and moving forward depends on three things.
- How coachable is the entrepreneur – is he/she open to feedback and mentoring, and co-existing as a portfolio company – to ensure our knowledge and the founder’s passion work in harmony
- What funds are required for the seed round
- What equity split & board control equation is mutually acceptable
Once the agreement is inked, it would take a month to transfer the funds to the bank account of the founder’s account.
Mr Farzal Dojki, CEO DotZero Ventures signing collaboration agreement with Founder Institute. DotZero Ventures to provide $20,000 convertible finance to the graduates of Founder Institute (Pakistan Chapter)
Once You’re Selected:
Founding a startup is a hectic process. Founders and teams juggle a bazillion tasks and responsibilities at the same time. DotZero aims to take away the peripherals so the startup can focus on their products and services.
This involves the use of shared office workspaces, access to legal, accounting and IT professionals as well as access to a network of vendors, partners, customers and investors.
What has DotZero Ventures Planned for the Future?
In 2016, DotZero Ventures plans to start two funds.
- An early stage fund that will invest in 10 startups
- A Series-A fund to invest in companies exiting the Seed round investments by DotZero Ventures or other accelerators around the country
For more information, you can visit the DotZero Ventures site here
Is office space more important for an IT or web start-up than funding and mentorship?
I think we can get 100 people across Pakistan to invest 1 lakh each, to form a combined seed fund that could provide some runway to ventures till they get product-market fit.