The Indus Entrepreneurs (TiE) has announced Start-up Heroes challenge, inviting start-ups in technology and non-technology spaces with a bankable business model.
Besides getting funding, these start-ups will get quality mentorship from experts from the relevant domain. “We are targeting early stage start-ups in any product segment. The only criterion is, one must have a business model with a working prototype,” Ramesh Loganathan, President, Hyderabad Software Exporters’ Association (HYSEA), has said, announcing the challenge. As many as 10 pro-types will get a chance to pitch their ideas to 10 angel investors. Tech start-ups will get ₹10 lakh, while non-tech products (needing manufacturing) would get ₹25 lakh. The investor will take 10 per cent equity for every ₹10 lakh they invest. “Those interested can send their pitches by December 25. The funding event will be held on January 17, 2015,” he said.
International Institute of Information Technology, Indian School of Business, Indian Institute of Technology, investment firm Uthishta and ICRISAT are incubator partners for the event.