The SOAR program, a pioneering fast-track funding initiative, was launched on 1 May 2020 with the single-minded objective of investing in a select few startups, despite the Coronavirus pandemic that has brought the world in general – and the venture funding industry in particular – to a grinding halt. At YourNest we believe that this is, in fact, the ideal time for passionate, future-oriented startups to be encouraged even more.
The program will invest anywhere between US$ 250,000 and US$ 1 mn in funding – within four weeks of the application deadline which was 14 May 2020.
Applications are now closed, and have shortlisted those startups who have met the eligibility criteria. If your venture has not made it to the final round, this does not necessarily mean that it is not viable; it simply means that it does not fit into our investment thesis for any number of reasons and that you should continue building the business and seek funding from other sources.
At this stage, a select set of startups has been shortlisted and term sheets are being issued.
The program has been supported by several eco-system partners – Amazon Web Services, Cisco, Intel Maker Lab, Freshworks and JioNext along with Agnii and Invest india – who have committed their network, resources and specialists to the selected startups.
We would like to thank everyone who applied and supported SOAR. And will update this section shortly when the final funding process is completed.