NEW INNINGS
$2 million Incubation fund, Shooting Star LLP, has been set up in equal partnership with Franchise India and an initial investment of $2 million and will be expanded further.
ACE SHOOTER ABHINAV BINDRA LAUNCHES INCUBATION FUND
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ce shooter Abhinav Bindra has floated a venture fund that will invest in startups. The Olympic champion has set up an incubation fund, called Shooting Star LLP, in equal partnership with consulting firm Franchise India and an initial investment of $2 million and will be expanded further. “This is my first widespread and extensive business venture. A start-up is very much like an athlete’s life... There’s no guarantee for success,” says Abhinav Bindra, the ace shooter. “There are only challenges but that’s a life I’ve lived for the last 20 years. Shooting is a great sport but not where you can make sustained economic benefits over a lifetime says Bindra who has also been the first ever Indian to win an individual gold medal in Olympic games. I have been contemplating “What More” and that is where the Shooting Star LLP’s Idea was born. Franchise India would bring the infrastructure and growth support across India and overseas at Shooting Star LLP. Commenting on the same Gaurav Marya, Chairman of Franchise India and partner in Shooting Star LLP, says “The fund will be used for making investments in such service oriented start-ups that have scalable formats and specialized domain expertise such as emerging sports academies, sports injury, Rehab, tech, equipment, training, health apps, child development, holistic wellness, organic food and dairy.”
APRIL 2016 ENTREPRENEUR
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