Updated on 19 July 2014
Bugworks, founded by Dr Anand Kumar, is discovering new ways to produce antibiotics to overcome the universal resistance developed all over the world due to widespread use. The company uses highly complex computers simulation modeling techniques to identify weak spots in bacteria to tackle the menace. Lucep is the third incubated company currently which is trying to extend mobility and data analytical solutions to the healthcare sector.
" As entrepreneurs, we had all burnt our fingers and got lashes on the backs," said co-founder Dr Shrikumar Suryanarayan, who headed the R&D efforts of Biocon for 25 years and then entrepreneur with Sea6Energy. " We are now making sure through EVA entrepreneurs avoid these pitfalls."
Added another EVA promoter, Mr Ashok Vohra, CEO of Evoma and Esco Singapore, " EVA is not an NGO We are a for-profit company that helps startups to survive the current mileu, help them survive and grow fast."
The idea took shape in late 2013 at a social gathering in Bangalore and EVA was set up in March 2014. The other promoters are Prof Ram Subramanian, CEO of C-CAMP( Center for Cellular and Molecular Platform), Prof Swami Manohar, an academic-turned-entrepreneur in the IT space and Mr Ricky Bedi, CEO of Telerad Tech. EVA promoters have roped in a large number of industry leaders as mentors.
EVA takes 5-10 per cent equity in the startups they mentor as sweat equity and spend considerable time individually helping the entrepreneurs through the various processes of making their enterprises , including help with raising funds, product development and marketing. EVA hopes to exit these companies in five years and will be working on rolling basis and work with more companies. EVA will limit to mentoring only 8-10 companies at any time.
EVA will be formally launched in Bangalore on July 19,2014.