YEA Hyderabad sets up Rs 5-Cr startup fund, to expand its scale

HYDERABAD: The Young Entrepreneurs Association (YEA) of Hyderabad, introduced a dynamic startup fund with an initial corpus of Rs five crore, and declared its plans to expand its scale in the future.

On Friday evening, Dr BVR Mohan Reddy, founder and executive chairperson of Cyient, unveiled the emblematic symbol of YEA Hyderabad's evolution, marking ten years of its existence.

Mohan Reddy in his address, commended YEA's new logo design and called on association members to embrace the brand's mission to ‘meet, connect, and grow.’ He stressed the importance of creating significant value and achieving exponential growth, stating that it would be the future.

Reddy cited Cyient's rebranding as an example, highlighting the significance of investing in visualizing, building, and creating brand value. On the topic of entrepreneurship, Reddy expressed his deep passion for education, which led him to innovation and incubation.

Subhakar Alapati, president of YEA Hyderabad said: " YEA Hyderabad is poised to redefine entrepreneurship and foster win-win entrepreneur-to-entrepreneur networking like never before. We are committed to nurturing the spirit of entrepreneurship among our members and the broader community, ensuring a vibrant and dynamic entrepreneurial landscape in Hyderabad."

He said that YEA’s membership comprised entrepreneurs from various generations - first, second, third, and even fourth-generation business leaders, all hailing from prominent business houses. “We are committed to providing them with an enriching learning experience, from renowned professors at institutions like the ISB to future collaborations with Harvard School for comprehensive business education,” he added.

YEA has forged strategic partnerships with T-Hub and others, aimed at identifying and nurturing potential startups in the Hyderabad region. The organisation will conduct annual international study and business enrichment tours each year. This year young entrepreneurs will visit Italy.

Over a decade ago, YEA Hyderabad commenced its journey with a mere 11 members, but today, it stands proudly with 80 members. It had plans to expand to 120. The Young Entrepreneur Association, Hyderabad, had set an enrolment target of 15 members for each year. For the current year, the target was already achieved as soon as it was opened.

Entrepreneurs of the first, second, and third generations, aged between 25 and 37, with a mandatory relinquishment of membership at the age of 45 will be eligible for membership. However, membership will involve a rigorous process, involving stringent screening, interviews, and board approval.

The unveiling of the new logo, and the launch of the startup fund, have positioned YEA Hyderabad at the forefront of the region's entrepreneurial ecosystem, promising a bright future for aspiring business leaders and innovators.