US-based communications application programme interface (API) provider Nylas has launched the Nylas Alumni Fund, to support both current and former employees who wish to launch early stage start-ups.
Nylas has pledged to contribute up to $20,000 (£15,219.90) towards a seed round of funding in support of what it deems to be transformative start-ups and entrepreneurs. The business noted that due to increased economic volatility, among other factors, there is currently added pressure on entrepreneurs to raise larger rounds of capital at earlier stages. The Nylas Alumni Fund will not only contribute to this investment, but has also been put in place as a credible form of validation for both the entrepreneur and the business they are building.
This supports the organisation’s key objectives to boost employee engagement, and support innovation within its workforce, as well as in the wider context of software development and industry standards.fund
The fund was set up to build on the fact that, over the years, employees have already used their experience at Nylas in order to start their own endeavours. Former staff have started businesses in a wide range of industries, including HR technology, personal health and wellness, web development, and fintech.
Gleb Polyakov, co-founder and chief executive officer (CEO) of Nylas, said: “Employees at Nylas are constantly testing the limits of innovation, automation, and the ways developers and our customers can build frictionless, personalised workflows and experiences for their users. It is what draws so many great people to come and work for us and what has allowed Nylas to grow at this incredible rate.
“At the same time, we recognise that some individuals have lifelong dreams of one day starting their own business and carving out their own entrepreneurial path. We believe it is our responsibility to nurture our employees’ dreams, not stifle them. The Nylas Alumni Fund represents our commitment to our employees and the future of technology.”