Financial Daily from THE HINDU group of publications
Thursday, Jul 28, 2005
Financial Daily from THE HINDU group of publications Thursday, Jul 28, 2005 |
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Industry & Economy
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Venture Capital Grab the VC's eye in a 3-min `Elevator Pitch' Our Bureau
Hyderabad , July 27 LEADING venture capitalists (VCs) from across the globe would assemble at the Indian School of Business (ISB) here on Thursday to screen attractive entrepreneurial ideas through `Elevator Pitch', a programme at which each entrepreneur would attempt to sell a business idea to the panel of VCs in just three minutes. West Bridge Partners, Jump StartUp, Intel Capital-South Asia, Avigo Ventures, Pace Setter Capital, I2I Ventures, Agile Partners, APIDC eVentures and SIDBI Ventures are among the participating VCs. Fourteen entrepreneurs were short-listed from over 80 applicants, said Mr V. Chandrasekar, Executive Director of Wadhwani Centre for Entrepreneurial Development, ISB. "Three minutes is the time that would presumably take for a chance ride with a VC in an elevator," he told reporters here on Wednesday. This is part of the daylong programme organised by TiE-ISB Connect 2005, a forum connecting aspiring entrepreneurs to VCs and successful entrepreneurs. According to TiE (The Indus Entrepreneurs) President, Mr J.A. Chowdary, this is the first time that early-stage VCs were eyeing India as a potential investment destination. The forum has received an overwhelming response with 56 business plans for the daylong session and over 30 ideas for Elevator Pitch alone. According to Mr Chandrasekar, the 14 business ideas short-listed for `Elevator Pitch' required funding to the tune of Rs 200 crore. These include software services, applications, Internet, Biotechnology and traditional industries.
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