Digital publishing company Quintype, backed by Indian media baron Raghav Bahl, has launched SpeakWrite, an accelerator programme through which it hopes to invest in digital media start-ups.
The programme will look to mentor, develop and launch sites and apps developed by selected start-up companies apart from investing in them. Quintype is looking to invest in five start-ups this year, out of which three have already been picked, and 15 start-ups next year.
“SpeakWrite will cost no money. However, in exchange for investing SpeakWrite and Quintype resources in the selected start-ups, Quintype will take a percentage of equity stake in the respective startups,” said Amit Rathore, Founder & CEO of Quintype, in a statement.
The amount of equity the company picks up from each of the startups will vary based on the stage, amount being invested, the complexity and the business plan. Under SpeakWrite, startups will be mentored for a period of 12-24 months.