Incubators have endless advantages. They help small stage startups grow extensively under a well-defined mentorship and resource help, at hand. Therefore, any addition to the ecosystem is a big welcome but even more so when a reputed firm like Fox Mandal decide to open their incubation centre. The leading law firm’s foundation has announced the launch of “Orygin”, its digital and startup incubation centre in Bengaluru.
This is not the first venture for them into working with startups. The foundation has been actively supporting various incubation centres, start-up programs and start-ups for many years.
Orygin, inaugurated on 26th August 2016, is located in the buzzing Central Business District, just off M G Road, in Bengaluru. The centre offers modern work spaces with meeting rooms, high-speed internet connectivity, un-interrupted power and pantry facilities. Aimed at nurturing and providing crucial hand-holding support to start-ups, Orygin offers an expert mentor panel (comprising Legal & Tax experts, Business Leaders, Entrepreneurs, Investors and I-Bankers among others). Members of the panel will provide required guidance, mentorship and training to the start-ups at Orygin. In addition, some of the Partners at Fox Mandal would periodically dedicate a few hours of their time to advise the start-ups at Orygin on legal aspects and prudent business practices.
Explaining the genesis behind the name “Orygin”, Santosh Vikram Singh, Partner and Head of the IP & Sports Law practice at Fox Mandal & Associates said that “the name derived from the word “Origin”, meaning beginning, with a “Y” representing Gen Y – the prime movers behind India’s start-up revolution”. He added, “we hope many great ideas originate and come to life here”.
Orygin too will follow a selection process to identify digital tech and start-ups for incubation. As the ventures evolve, Orygin aims to facilitate the process of connecting its start-ups with potential investors and customers.
Shuva Mandal, Managing Partner at the firm said “We have been extensively involved in advising start-ups – both formally and informally. We have often found that in their early days, entrepreneurs tend to be highly focused on the underlying technology and on identifying potential investors and often ignore crucial points on legal and commercial aspects of their ventures. At a later date, this creates serious issues that can cripple funding and growth.” He further added, “we felt that the gap could be bridged by providing start-ups and their founders with mentorship and guidance, hence Orygin”.
While the first incubation Centre has been started in Bengaluru, the Foundation aims to expand Orygin to other cities in India as well. The Centre is also in discussions with certain Universities and Engineering Colleges to explore avenues for collaboration. Given that a reputed law firm like Fox Mandal are venturing into this industry is a definite boost to other reputed companies to help and aid India’s startup ecosystem.
To the guys at Orygin, two big thumbs-up!