?L-pad, a remote mentoring/incubation program for early stage startups is launching their second batch. You can apply here. It is an interesting model where they take 4% equity in the company for providing mentoring and connections, but no funding.
Mohit, the founder of L-pad answered some questions for us.
Shabda: This is your second batch who have you already funded?
Mohit: L-pad runs a mentoring program. We do not fund startups. We take a 4% equity stake against the 6-month intensive mentoring.
In our batch-1, we have one startup (Spojit.com) that just launched their alpha.
Shabda: How many people are you mentoring in this batch?
Mohit: As specified above, we are currently working with one startup from our batch-1.
Shabda: When was the first round of Lpad done and what percentage of them are profitable or funded?
Mohit: The first batch would be over by the end of February. The startup is yet in an early stage and is not looking for funding at the moment.
Shabda: Are you looking to fund web startups only, or any other type of startups as well?
Mohit: We are looking forward to work with technology-driven startups (web/mobile) and Operation-driven startups enabled by technology.
Lpad's second batch of remote internships starts
By : shabda
Mohit, the founder of L-pad answered some questions for us.