Our journey started in August 2013 with the launch of our Non Profit, Foundation for Information Technology, with the purpose of facilitating entrepreneurs and hence fostering Entrepreneurship. The first project was named DotZero and was launched through private donations, and some grants.
Over the 2 years, DotZero has provided 24×6 office space, mentoring and networking to approximately 50 startups. The companies have raised in aggregate of $20 million in funding. The current annualized revenues of these companies are currently between $10-$20 million with total employee strength of around 250 people, mostly software engineers.
In the summer of 2015, our Board and our Advisors decided to take the next step of the journey – beyond office space, mentoring & networking – and decided to invest in the area of pre-revenue or early revenue startups.