Startup on startups that help other startups start up, launches
Nestiny, an incubator for incubators has officially launched today. The announcement was made through their website and Facebook page.
The platform aims to facilitate seed funding and provide the necessary learning resources for startups that are still in the idea stage.
"I had many ideas during my youth. Mostly from other people but I have their permission at heart because I believe innovation does not have the time to stop and ask for permission. You don't disrupt by asking first!" said Daniel Asholnam, the CEO and founder of Nestiny.
"In the hyperfast world we live in now, we have too many ideas going around and not enough resources for them. Our plan is to rapidly deploy vertical integrations on top of existing incubation structures within the startup industry. That way, we create incubators that incubate other startups from their initial seed fund, and thus with the seed of one startup, you get two! It's simple math, really," he explained.
Recently, some experts have called Nestiny's business model into question, comparing it to that of multilevel marketing schemes, better known as Ponzi or pyramid schemes.
Mr. Asholnam's angry explanation quickly followed his dry laugh at the mention of his doubters.
"Absolutely baseless! We have created one of the most stable business structures ever which takes direct inspiration from nature. How can nature be wrong? Do you even know where incubation happens in the wild? In a nest. Nestify follows the natural order of things.
"What about birds? What do they eat to survive and take care of their nest? They eat seeds! Our seed funds enable exactly that. They allow incubators to help their own nests."
The interview was cut short as an investigative team from Securities and Exchange Commission arrived to do their interview of the CEO.
The company raised $18 million in their second investment round with a valuation of $64 million. They plan to unveil their roster of startups in a launching event next month.
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