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Hostelfund.com: Catch Them Young
Rakesh Gupta
Indian Institute of Management, Nagpur, Maharashtra, India
Reema Khurana
Institute of Management Technology, Ghaziabad, Uttar Pradesh, India
Volume 19: 2024, pp. 389-404; ABSTRACT
HostelFund (HF) was founded by Ankur Jain in December 2019 based out of Gurugram (Haryana, India). It was set-up to support student
start-ups through mentoring and helping them get funding at an early stage. The venture idea was based Ankur Jain’s personal experience
as a student entrepreneur and the challenges he faced during those days. He therefore refined the idea during his regular interactions
with students who were keen to start their entrepreneurial ventures. However, the mentoring-heavy model and strict filtering mechanism
to shortlist the mentees had led to a low conversion rate - HF turning mentee startups into incubates - thus putting a question mark on
the financial viability of the venture. HF needed to address the issue at the earliest to make the venture financially viable for all
concerned. Ankur was seriously deliberating whether to continue with the present approach or to look for alternatives.
Keywords: entrepreneurship, students, mentors, venture capitalists.
The Americas + Rest of World
ARTICLE REF.: JIBE19-0CS10
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