AngelPrime partners introduces first-ever CTO-in-residence program

Nov. 8, 2011 - PRLog -- Bangalore: AngelPrime, a business incubator started by veteran entrepreneurs and former UIDAI volunteers - Bala Parthasarthy, Shripati Acharya (Snapfish) and Sanjay Swamy (mChek/ZipDial) - today announced the first-ever CTO-in-residence program, targeting technologists, hackers and geeks. The initial focus areas for the CTO’s would include eCommerce/mCommerce, Tablet applications, Analytics & Business Intelligence, Social Media and breakthrough User Experience opportunities - interested parties may apply for the CTO-in-residence program by emailing cto@angelprime.com.
The program had been successfully developed and used by the first two funded portfolio companies of AngelPrime, and is now being extended to candidate CTO’s wishing to make a difference to their careers through entrepreneurship.
“The program provides techies the opportunity of a lifetime”, said Bala Parthasarthy, Managing Partner of AngelPrime. “We minimize risk, provide basic salary, a professional fully-furnished and well equipped office space, and a great environment to work with proven entrepreneurs and advisors on a day to day basis, to disrupt and innovate. But most importantly we provide a great opportunity to turn their disruption into a funded product company within a few weeks or months”.
With experienced entrepreneurs on the core AngelPrime team, as well as an extended network of specialist advisors, the CTO-in-residence program provides technologists with a unique opportunity to think laterally with business-aware people and apply technology to solve real-world problems in a disruptive manner – both technically as well as business model wise. It also allows them to rapidly test and validate and fine-tune these products in the market quickly – and either pivot to new ideas or ideally turn successfully validated ideas into businesses.
“AngelPrime is about building disruptive companies – not copycat businesses”, said Sanjay Swamy, Managing Partner of AngelPrime and Chairman of ZipDial. “Technology–led businesses require time and investment – but more importantly they need GREAT, hands-on thinkers and do’ers who attempt to real-world business problems with a fresh mind”.
“We are actively looking for up to five great CTO’s who could turn validated business concepts into great companies within 90-180 days”, said Shripati Acharya, Managing Partner of AngelPrime. “With our experience, we are able to step in and cover all the business roles in a startup during the early days, allowing the CTO to focus on the core product offering. Over time we will hire an ideal CEO, provide the seed funding for the company, and provide necessary help and guidance as required”.
More information about the CTO in residence program can be obtained by emailing cto@angelprime.com or visiting www.facebook.com/angelprimepartners

About AngelPrime
AngelPrime is an “incubator” that plans to launch multiple startup companies focused in three areas – Electronic Payments, Ecommerce, Smartphone & Tablet based apps for the Indian market.  AngelPrime is started by three veteran serial entrepreneurs with a proven track record of launching and scaling very successful companies in India and abroad. They have quickly raised the first round of capital to invest in their companies from a set of marquee investors. Their objective is to cultivate successful startups by bringing together highly talented entrepreneurs, mentoring them through ideation, prototyping, market validation, building a customer base and subsequently raising institutional investment for further scaling.
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