In pursuit of innovation, we are back with #GotanIdea challenge 2017 (season 2), in association with Society for Innovation & Entrepreneurship in Dairying (SINED), TBI, NDRI, Karnal, to find, nurture and grow original thinkers and innovators. We are always seeking to innovate, learn & interact with our startups. Since its inception in October 2015, Aarambh has helped 3 of its startups close seed round successfully and three more are undergoing acceleration at its Gurgaon office.
There is a new breed of early stage startup SMEs (Small & Medium Enterprises) struggling between debt & equity. This year #GotanIdea challenge is trying to address this equity gap among Startup SMEs in INDIA. We are trying to fill the gap created by seed stage VCs and Banks / FIs attributed to the risks associated with early stage Startup SMEs & NPAs respectively.
#GotanIdea challenge is designed by keeping the concerns of all stakeholders viz startups, investors and an accelerator. Prospective investors and Aarambh work together right from the first round. The six months acceleration program is executed in association with prospective investors. This also helps investor defining the road map of their potential investee company.
For a startup, it generally takes 4-5 months to close an investment. #GotanIdea challenge gives startups this opportunity to utilize this time to make their ventures investment ready and that too under the mentorship of their potential investors.
1. Fisrt Prize: The winner of #GotanIdea Challenge shall receive INR 15 lakhs as seed funding (at a mutually agreed valuation between the startup & Aarambh ventures)
2. Second Prize: INR 5 Lakhs as seed funding (at a mutually agreed valuation between the startup & Aarambh ventures) for the startup working in the domain of Dairy / Food Processing / Bakery / Food Technology.
The funding shall be linked to a unique milestone & mentoring based investment strategy spread over a period of 6 months. Post 6 months, the winner will also have the opportunity to pitch to Aarambh’s partners for an investment up to INR 50 Lakhs.
The final pitches will be evaluated in each of the following areas:
|Friday, May 05, 2017||Applications open|
|Monday, May 15, 2017 - Tuesday, May 16, 2017||Entrepreneurship Camp at NDRI, Karnal|
|Sunday, June 11, 2017||Last Date for Registration and Application Submission|
|Monday, June 26, 2017||Results of Screening Round Announced|
|Wednesday, June 28, 2017 - Tuesday, July 04, 2017||One - on - one mentoring|
|Monday, July 10, 2017||Last date for Final Plan & Pitch Submissions|
|Saturday, July 15, 2017||Final Presentations & Evaluations ( In Person)|
|Saturday, July 15, 2017||Announcement of Winners|
|Monday, July 24, 2017||Acceleration Program Starts at Aarambh Ventures|
The event is being organized and managed by Aarambh Ventures. Aarambh is providing the infrastructure that enables applicants to submit their ideas and plans online and lets mentors and judges to screen, evaluate, and provide feedback in a coherent manner.
To register and submit the application for #Gotanidea Challenge 2017 click on Apply Now. Email your questions to firstname.lastname@example.org or you can call us at +91-7988669530