India-based employment assessment company Aspiring Minds has committed $1m to fund educational technology and employment technology startups, the Economic Times reported on Friday.
Aspiring Minds intends to provide early-stage funding to startups based in India, China and the US, and to commit the initial $1m in a 12-18 month period. It will supply seed capital, as well as advice and access to the market.
Himanshu Aggarwal, co-founder and chief executive of Aspiring Minds, said: “We are not necessarily looking at technology sharing but only looking at options to invest and exit at the right moment. From an employability firm, we are now turning into an incubator.”