Tetr College of Business, a global business school, has introduced a $10 million fund—‘Tetr – Under 20’—aimed at supporting student entrepreneurs through targeted investments.

The sector-agnostic fund aims to support a minimum of 20 innovative ideas, focusing on areas including, artificial intelligence (AI), emerging technologies, and sustainability.

“The next decade belongs to those who can harness AI, emerging technologies, and sustainability to solve our world’s most pressing challenges. We are looking for young minds who see these as tools to reshape industries and create meaningful impact,” Pratham Mittal, Founder, Tetr College of Business and Masters’ Union, remarked.

The fund is spearheaded by Manoj Kohli (former Head of SoftBank India), Viney Sawhney (Professor at Harvard University), Nitin Gaur (former Advisory Board Member at Stanford University), Mihir Mankad (also a Professor at Harvard University), Debesh Sharma (Founder and CEO of MetaFora), and Mittal.

The initiative seeks to empower the next generation of business leaders by offering them access to guidance and mentorship from experienced industry professionals.

“Entrepreneurship is the lifeblood of a thriving economy, and Tetr’s fund recognises the immense potential today’s young minds hold,” said Kohli.

“Traditionally, VCs look for established businesses and teams with proven track records. For young entrepreneurs, however, we only look for passion, willingness to learn and adapt, and the ability to build and test their ideas with real users,” he added.

Selected students in the Tetr – Under 20 programme can choose to focus on their startup or continue their education while building their business. They will access Tetr’s global incubation network, offering expert mentorship, advanced facilities, and valuable industry connections.

Backed by a network of venture capitalists, founders, and industry leaders, the fund will provide comprehensive support in areas such as product development, marketing, talent acquisition, and regulatory guidance. A pitch day will be held for startups to present their ventures to venture capitalists and investors.

In return for their investment, investors will receive equity in the startups based on their investment amount. Additionally, a portion of the fund will be specifically allocated for startups founded by Tetr’s students.

The opportunity is available to all aspiring entrepreneurs across the globe. Applicants must be 20 or younger, as of December 31, 2024. Companies in pre-revenue or post-revenue stages with innovative ideas that can transform industries can also apply.

Founded in 2024, Bengaluru-based Tetr College of Business has 110 undergraduate students from across the globe, learning by building businesses in seven countries: the USA, Italy, Singapore, Brazil, UAE, India, and Ghana. As part of its four-year Bachelor’s programme, students will attend prestigious institutions, receiving instruction and mentorship from leading educators and business leaders from Harvard, Stanford, MIT, Cornell, NASA, Estee Lauder, and American Express.

(The article was updated)

Jay Hao, the former CEO of OKX, one of the largest cryptocurrency exchanges in the world, has joined CIFDAQ, a bootstrapped Indian blockchain startup as its co-founder and global COO.

In an exclusive interaction with YourStory, Hao throws light on CIFDAQ’s growth strategy as it plans to launch a centralised crypto exchange and a wallet next month.

He assures that CIFDAQ will implement robust safety measures and adopt the highest levels of cybersecurity across its operations. CIFDAQ will also build an ecosystem with financial prudence, he says.

A frugal approach, he adds, is fundamental to the company’s strategy for long-term profitability.

Hao joined OKX in 2018 when it had become the world’s largest cryptocurrency exchange by reported turnover. During his tenure, OKX entered India and United Arab Emirates and bolstered its presence in Latin America. The company also saw its largest trading volume in history under Hao.

Cybersecurity and user trust

One of the biggest challenges that crypto exchanges face today is that of security. With the crypto industry becoming a target of hacks and security breaches, CIFDAQ seeks to prioritise building a secure platform.

“We’re adopting the highest levels of cybersecurity,” Hao assures.

CIFDAQ is determined to implement robust safety measures across all facets of its operations. “We’re not just protecting wallets; we’re safeguarding the entire ecosystem,” he adds.

“History has shown that even giants can fade away, so it’s not about who enters first but how you differentiate and execute,” he notes.

Hao has been closely following the crypto heist that saw Indian crypto exchange WazirX knocking on the doors of Singapore’s bankrupcy court.

Hao acknowledges that, in the crypto industry, “pretty much everybody has experienced a hack.” However, he emphasises that a hack itself isn’t necessarily detrimental to the company. “It’s more about the trust you can uphold with your clients,” he points out.

Discussing the approach taken by some exchanges, Hao expresses disagreement over how WazirX handled the situation it was in. “I probably wouldn’t agree with what WazirX has done,” he says.

He strongly believes in prioritising user trust. “I’d rather give the money back to the users, instead of taking it from them.”

CIFDAQ’s growth strategy

Hao believes many exchanges rely too much on external funding without careful execution. “Talent and funding are crucial, but execution matters more,” he emphasises.

Hao is confident about CIFDAQ’s process-driven approach and its ability to be frugal with resources, which is key to outlasting competitors.

Hao explains that CIFDAQ is building an ecosystem with financial prudence. “We don’t waste money—we’re frugal and ensure every penny is used wisely,” he asserts.

This approach, he says, is fundamental to the company’s strategy for long-term profitability, particularly in developing markets such as Southeast Asia, Latin America, and Africa.

Hao is bullish on CIFDAQ’s potential to reach underbanked regions. While global exchanges like Binance have made inroads in Southeast Asia, many local exchanges lack the global resources to scale, he adds.

“I see a lot of potential in India and Southeast Asia. Our competitors might be global giants, but our real competition is ourselves.”

The company’s strategy includes acquiring licences from various jurisdictions to ensure compliance while expanding into emerging markets.

Hao plans to make gaming a key part of CIFDAQ’s blockchain ecosystem, as he views it as a natural fit for blockchain applications like NFTs and play-to-earn models. He envisions a platform where gamers can earn, trade, and own tokenised assets, creating a more immersive experience.

This approach would also enhance user engagement and drive wider adoption of CIFDAQ’s ecosystem, making gaming a major driver for the platform’s growth, he says.

Profitability and sustainability

CIFDAQ emphasises profitability and sustainability over growth at any cost.

“We’re not just building another financial platform; we are building an open blockchain solution that includes everything from gaming to stock trading across markets like the US, Japan, and Hong Kong,” says Hao.

CIFDAQ Blockchain Ecosystem Global Inc is a global blockchain ecosystem company offering advanced blockchain solutions, virtual digital asset exchange services, and tokenisation.

Mumbai-headquartered CIFDAQ, which was founded in 2020 by Rahul Maradiya, also has offices in Delhi, Bengaluru, and Kolkata.

Maradiya’s vision for CIFDAQ centres around building a sustainable, compliant blockchain ecosystem that caters to a diverse range of traders and markets. He emphasises the importance of simplicity, inclusiveness, and strong compliance.

“We want to obtain our own licences in every jurisdiction… even if it takes six months or a year,” he tells YourStory.

Maradiya highlights the need to avoid temporary solutions and focus on long-term stability. His approach involves scaling gradually while creating a platform with products for all types of traders.

“You can’t build a skyscraper and then have the floor crumble beneath you,” he says.

Ecommerce enablement platform Shiprocketexpects quick commerce to drive demand this festive season and contribute $1 billion in gross merchandise value (GMV), the company said on Thursday. 

Shiprocket projects the Indian festive ecommerce market to grow 23% during the key months from October to December 2024 to $12 billion compared to $9.7 billion in the previous year. It expects this growth to be driven by consumer demand in high traction categories like fashion, electronics, beauty, and personal care. AI-driven recommendations and social media influencers are significantly influencing consumer behaviour in fashion and beauty, with 84% of consumers purchasing products based on promotions or influencer suggestions.

The festive ecommerce growth is also being driven by growing digital penetration in Tier II and Tier III cities, which is fuelled by improved access to the internet, rising disposable income, and enhanced digital literacy, said a statement by the company. It sees 60% of online festive orders to originate from non-metros this year. 

The country’s ecommerce export market is presently valued at about $3-4 billion, but is expected to surge to $200-300 billion by 2030, particularly helped by micro, small and medium enterprises (MSMEs) that continue to tap into global markets and government initiatives like the Directorate General of Foreign Trade (DGFT). 

Global appetite for Indian goods during the festive season has significantly increased, and is catered to by Amazon Global and Flipkart’s Global Stores. Some of the popular export categories include handicrafts, home décor, and fashion. Shiprocket currently facilitates about $100 million in global ecommerce GMV. 

To help merchants capitalise on the demand this festive season, Shiprocket introduced innovative solutions, including Shiprocket Quick—a hyperlocal delivery service for offline merchants. It allows MSMEs to deliver to local customers within minutes, enhancing competitiveness during the season of instant gratification. Additionally, Shiprocket has improved its recommendation algorithm to match sellers with optimal logistics partners.