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OYO CEO joins Venture Catalysts to empower small-town startups

Ritesh Agarwal, CEO of hospitality major OYO, has joined hands with the country’s largest incubator Venture Catalysts (VCats) to promote entrepreneurship in small-town India

Ritesh Agarwal, CEO of hospitality major OYO (Photo Courtesy: IANS)
Ritesh Agarwal, CEO of hospitality major OYO (Photo Courtesy: IANS) 

Ritesh Agarwal, CEO of hospitality major OYO, has joined hands with the country's largest incubator Venture Catalysts (VCats) to promote entrepreneurship in small-town India.

Vcats is the world's seventh most active early-stage investor and integrated incubator and is known for developing and nurturing early-stage startups.

The Mumbai-based incubator has a presence in over 30 smaller towns.

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"Ritesh's insights will prove tremendously valuable to entrepreneurs as we continue to execute our plan to build a robust infrastructure for startups across India," Dr Apoorva Ranjan Sharma, founder of Venture Catalysts said in a statement on Monday.

VCats has given wings to startups such as Beardo, BharatPe, Fynd, Supr and Coutloot, among others in various sectors.

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"Today, many former OYOpreneurs have started their new ventures and are doing really well for themselves. Now that I have established myself as an entrepreneur, I think it is time to give back to society and support entrepreneurs like them," said Agarwal.

As the coronavirus pandemic has impacted working patterns across businesses, hospitality major OYO Hotels & Homes last month said that it has permanently moved to a 'hybrid workplace model'.

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In June, the hospitality major announced that "large majority" of its employees that were furloughs or sent on temporary leaves in the US would be laid off with stock options.

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