FAQs

What is WF Venture FasTrack?

WF Venture FasTrack is a 3-month program by National Entrepreneurship Network, Wadhwani Foundation, to help aspiring and early entrepreneurs accelerate their venture.

What happens at WF Venture FasTrack?

In the WF Venture FasTrack program, you will learn in 3 months what you would otherwise learn in 1-2 years. You will use Lean Startup methods to:

  • Find the biggest risks in your business
  • Go to your customer and run experiments to validate your problem and your solution
  • Measure, measure, measure – everything.
  • Collect real market-based evidence for new ideas
  • Launch a functioning business with expert inputs in areas like Channels, UX, Legal, IT, HR, and Ops
  • Get a chance to win seed or angel funding for your venture

What happens at the end of the WF Venture Fastrack program?

All startups who have been a part of WF Venture Fastrack program will pitch before a panel of investors and experts. All participants will receive feedback from business experts, and we will select three best startups to receive free business mentoring and/or consulting. The panel of judges will include some Seed and Angel Investors. Depending on the quality of your pitch, you may end up receiving funds or making it to their watch list.

How is WF Venture Fastrack different from other startup accelerator programs?

Most startup accelerators work with tech-focused companies such as FinTech, MedTech, or other product-based companies. At WF Venture Fastrack, we have opened doors to entrepreneurs from any sector: Manufacturing, Retail, and Food & Beverage. At WF Venture Fastrack, we will provide mentors who will guide you to build a viable product.

We are using the Lean methodology and believe in the Steve Blanks idea of “Get out of the building.” While cohorts and learning are a part of the program, the focus will remain on going out to the market and learning from your customers. In the NEN Venture Fastrack program, you will learn in 3 months what you would otherwise learn in 1-2 years.

Most accelerators have a fixed duration, of three to four months after which entrepreneurs make a demonstration to some panelists. The WF Venture Fastrack will also run for three months.

However, even after the final event we will continue to support with mentors and a supportive ecosystem including investors, experts, and a Startup Help Desk.

Our mentoring platform, WF NEN MENTORWISE enables us to offer you the benefit of rightly matched mentors based on your goals. We call this goal-based mentoring. Finally, we are a non-profit organization, so we offer all help for free and will not ask for a stake in your venture.

If I am a participant from outside of Bangalore, will you provide accommodation?

Wadhwani Foundation will not pay for or take responsibility for your accommodation. However, we do recommend that you put up at the Construkt Startup Hostel here in Bangalore. The Conskrut Startup Hostel will provide you subsidized rates for your stay. To know more, please email wfventurefastrack@wfglobal.org.

I am a student entrepreneur. Can I join WF Venture Fastrack?

Yes, you can. Please register yourself right away.

I have been running a business for a few years. Now I want to start a new one. Can I join?

Yes, you can. We will love to guide you in your new business idea. Please register now.

How much time do I need to invest for WF Venture Fastrack?

We will meet every two weeks for 6 hours. You can use the rest of the time to work on the experiments and tasks given to you by the mentors. Attending the biweekly check-ins is mandatory for being a part of WF Venture Fastrack.

How can I join WF Venture Fastrack?

Register yourself on this website, and we will get in touch with you.

Is there a participant fee for attending WF Venture Fastrack?

No, there is no participation fee for attending WF Venture Fastrack. There is a selection process based on the potential of your idea and your commitment. It is our strong recommendation that you do the following to the best of your ability to have a good shot at being selected for this program:
• Fill all sections of the Registration Form
• Create a 1 to a 1.5-minute video where you introduce yourself; your co-founders, if any; the problem you are solving; and why you should be selected for this program. Upload this video to YouTube and add the link to the Registration Form.

Can my startup team join with me too?

We recommend that you and your co-founder both join on the first day. From the second day onwards, we recommend that at least one of the founders attend all sessions consistently. It is not a good idea to shuffle participants across the sessions. Again on the final two days, it is important that all founders be present for the pitch.

Is there an age limit to join?

No, there isn’t any age limit for participants.

Will you provide funding for my business?

In WF Venture Fastrack, we will guide you on your journey as you validate your venture idea, build your MVP, and launch your business. The mentors working with you will guide you in finding funds for your business. National Entrepreneurship Network, Wadhwani Foundation does not directly invest in any startup.

However, on the final day all startups who have been a part of WF Venture Fastrack program will pitch before a panel of investors and experts. All participants will receive feedback from business experts, and we will select three best startups. The panel of judges will include some Angel Investors. Depending on the quality of your pitch, you may end up receiving funds or making it to their watch list. You can also win free consulting and mentoring.

Do I need to come prepared with a business plan?

Not for WF Venture Fastrack. We will guide you through the entire process of beginning with an idea and end with venture or company.

Are you going to sign an NDA? How can I be sure that you will not steal my idea?

We will not sign an NDA with you. However, we will keep our commitment to secrecy via our website disclaimers and agreements with the WF Venture Guides, mentors, and other WF NEN representatives who are a part of the program. However, all participants will have to sign an NDA before joining WF Venture Fastrack. The purpose of the NDA will be to make sure that participants maintain the confidentiality of the business ideas shared by others.

I have a great idea, but I do not possess the technical know-how. Will you guide me?

We will want to guide you, but your chances of success will be more if you find a
Tech-savvy co-founder. It is always a good idea to look for a co-founder amongst friends and colleagues rather than team up with someone new. Teams put together for creating a startup often fall out under stress. You need some personal connection.

Is this program only for people making software or tech. startups?

No, WF Venture Fastrack is for entrepreneurs from all sectors and not only technology. You could be from Manufacturing, Retail, or Food & Beverage and join WF Venture Fastrack.

What if my product is something really big and complex?

We will love to enroll you. However, in case you are building something big and complex, the likely outcome after three months will be a proof of concept (POC) rather than a full-blown product. After three months, we will give extended support via MENTORWISE and NEN Startup HelpDesk.

I have been already working on my business for a while. Can I apply?

You can apply if you want to validate your business idea, re-look at your customers, and release a new product or service. If you are looking mostly to scale up and need help in specific areas, then call the NEN Startup HelpDesk at 1800-420-8286 or send an email to startuphelpdesk@wfglobal.org.

Are there going to be multiple startups working on the same idea?

It is likely that there will be some overlaps in the business ideas proposed by the participants. However, you can be assured that we will not share one’s ideas with another. Also, the program will guide you to come up with a unique value proposition that will help you gain an edge over the competition. Historically, multiple startups with slightly different ideas do not have a problem because bigger markets have room for several offerings.

Will you review my business idea?

In the WF Venture Fastrack program, we will help you validate your business idea. When registering for the program, please fill up all the fields related to your business idea. This will help us provide individual guidance to you during the program.

Why did you not accept my application?

Perhaps our seats for this run are already filled up. We will try and accommodate you in the subsequent run of the program.

What is Wadhwani Foundation?

Wadhwani Foundation was founded in 2000 by Silicon Valley-based entrepreneur and philanthropist, Dr. Romesh Wadhwani with the primary mission of accelerating economic development in emerging economies through large-scale job creation. The Foundation is present in Asia, Africa, and Latin America operating in association with governments, corporates, mentors, investors, and educational institutes. Its initiatives are driving job creation through entrepreneurship, skills development, and innovation. Visit us at https://www.wfglobal.org/ to learn more.

What is National Entrepreneurship Network (NEN)?

National Entrepreneurship Network (NEN) inspires, educates, and supports entrepreneurs to create high-value companies and jobs. NEN creates city-based entrepreneurial ecosystems consisting of institutes that teach entrepreneurship and network of mentors, investors, and incubators that support startups and SMEs. NEN also aims to create world-class innovation ecosystems in critical sectors of high importance. Go to https://www.wfnen.org/ to learn more.

Who is Dr. Romesh Wadhwani?

Romesh is a successful Silicon Valley entrepreneur and philanthropist with a passion for wealth creation. After building three large-scale, successful companies in three decades, the last of which was sold for over $9 billion, Romesh founded the Wadhwani Foundations in 2000 to which he has committed to donate most of his wealth. He is also a member of the Gates-Buffet Giving Pledge. Romesh envisioned a high-impact social change in emerging economies through sustained economic acceleration. This vision led to the launch of Wadhwani Foundations five Initiatives through which the Foundation drives large-scale job creation and skill development in multiple countries. Watch Dr. Romesh Wadhwani talk about entrepreneurship here https://www.youtube.com/watch?v=FYoXzviWPyk.