How to become a RAIN member
RAIN is a not for profit company and consist of members for whom it is mandatory to be TiE Rajasthan member.
It only facilitates the short listing, deal flow, due diligence of the startups for all its members.
The members, if want to invest directly into the startup company make a decision at their own will and risk.
It charges 2% of the invested amount from the startup if the investment happens, otherwise there is no fees charged from the startups shortlisted for the deal flow meeting.
The joining fee of new members which is 3 Lakhs and annual fee of Rs. 25 thousand per annum from members is what keeps it running and functional. Service taxes are as per actuals and extra.
There is a monthly deal flow in Jaipur and members can be present physically or via skype.
Each member is committed to make at least one investment in 2 years of at least INR 20 Lakhs.
RAIN or its members or its founders or its Executive Committee don't take responsibility of any investment or its returns thereof.
An exhaustive questionnaire is must for the RAIN member to be filled and by virtue of this questionnaire and membership he/she makes sure that the member will not start a new business of what is presented to them at the deal flow, will not do a side deal with the startup without informing RAIN, will not listen in on any startup idea that he might have a conflict of interest in. Basically full disclosure and transparency is required. And any act or intent to do otherwise will ensure loss of membership to the member.