ASSOCHAM Startup Elevator Pitch Series To Help Entrepreneurs Get Funding

Beginning September 7, 2019,
ASSOCHAM would be launching in 10 major cities ‘Startup Elevator Pitch Series,’
an initiative and a platform for budding entrepreneurs to pitch for funding and
technology partners for their dream projects.
“Through this unique initiative, Startups or
potential Startups would be able to network with high net worth individuals and
top of the line professionals and generate business or funding opportunities
for themselves,” said Mr Anil Khaitan, chairman, ASSOCHAM National Council on
Startups; Mr Ashish Agarwal, co-chair and Ms Tripti S. Shinghal, co-chair at a
media interaction in New Delhi today.
Mr Khaitan said, the opportunity would be
available for early stage startups between 0-2 years of operations. Those
aspiring to scale up would also get opportunity for raising finance and/ or
technology or even marketing partnership with venture capitalists, mentors or
independent professionals of global repute. The Elevator programme is also open
for the established startups between 2–5 years of operations.
The ASSOCHAM Startup Elevator Pitch Series
would be rolled out in 12 cities between September 7 and by the end of January
2020. The cities are Jaipur, Pune, Lucknow, Chandigarh, Raipur, Indore,
Guwahati, Kochi, Visakhapatnam, New Delhi, Jammu and Srinagar.
“As is clear from the list of cities,
excepting Delhi, all others are Tier-II or III cities for the roll out
programmes. We believe the smaller cities are equally aspirational with
abundant talent. Moreover, with the technology being the major enabler, the new
age industries should reach throughout India.”
The format of Elevator Pitch will be such that
the entrepreneurs and founders will be given 300 seconds to explain the concept
and idea of a service or product to set of jury members.
The programme, in line with Hon'ble Prime
Minister Shri Narendra Modi's pet initiative for the Startups, incorporates
mentorship and guidance from the industry’s best leaders, Co-working space for
all the selected startups for a period 3 months with no cost. Each of startups making it would get 3 meetings with
investors and a chance to pitch directly to them.
There would be Google Cloud vouchers available
besides a direct entry into the accelerator programme with IncubateIND, India’s
fastest growing technology community network.
“ASSOCHAM will create a dedicated
Website/Microsite where all the information related to the Elevator Pitch
schedule and plan will be uploaded. The applications will be sought online and
the details of venues, jury members will be updated on regular basis. Post the
Elevator Pitches, we will also embed the videos on the website, so that the
website is the single and the preferred destination for the Startups,” he said.
Mr Ashish Agarwal, co-chair said, The Indian
startup ecosystem has evolved, being driven by factors such as growth in number
of funds/angels, evolving technology, higher smart phone and social media
penetration, growth in incubators and accelerators, younger demographics etc.
2015 witnessed the maximum traction in this space with over 600 companies
getting funding; more than US$ 2 billion being deployed by PE and VC funds.
Investment momentum in start-ups have
increased rapidly over the last five years with investment values increasing at
a CAGR of more than 57% between 2011 and 2015 while investment volumes have
increased at a CAGR of over 62%.
ASSOCHAM believes that India’s economic future lies in encouraging startups which will bring dynamism, new thinking and create jobs to the Indian economy.
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