CII-YI Dream Start-up Challenge Orientation & Mentoring Session 2019 inaugurated
Saturday - January 12, 2019 11:50 pm , Category : BHOPAL
Bhopal, Jan 12 (WTN): Dream Start-up Challenge 2018-19, organised by CII & Yi and supported by AISECT. &AIC–RNTU (Atal Incubation Centre, supported by NITI Aayog) held today at CII Office at ISBT, Bhopal. This event inaugurated in the graceful presence of eminent guest and speaker of the day, Vivek Kumar, CEO, Venture Garage. The officials of CII, Yi, and AISECT were also present. There were 16 teams as Start-ups from across the Central India were present to participate. Expert, Budding and existing Entrepreneurs, start-Ups, were also present as audience. The program was chaired by Vivek Kumar, CEO, Venture Garage, and Siddharth Chatutvedi, Chair, Entrepreneurship and Innovation, vertical , CII-Yi, Bhopal.
Dream Startup challenge competition is a joint initiative of Yi (Young Indians)-Bhopal chapter, which has an objective of creating a platform for young Indians between the age group of 25 & 40 years to realize the dream of a developed nation and CII (Confederation of Indian Industry) which works to create and sustain an environment, conducive to the entrepreneurial development of India, partnering Industry, Government and Civil society, through advisory and Consultative processes, to promote Entrepreneurship and Innovation in Central India.
This competition has an objective to provide a platform to budding entrepreneurs to pitch their ideas through B-plan and providing them with the appropriate audience that can help them to take their ventures to the next level. In this project we shall be providing mentorship on the basis of good business plan, understanding to the basics of financial statements, stages and types of fund raising, building successful online businesses & digital marketing, legal and compliance aspects of startups and GOI startup policies, marketing, customer segments and STP and creating a pitch deck. The incubation support is also offered to the shortlisted entries for a period of about 2 months after which the shortlisted teams will present their Business Plans in a Grand finale in front of prominent investors.
Vivek Kumar, CEO, Venture Garage, started with introduction to Start-up. Then he covered his presentation on what is fund raising, how to raise funds for your company, what are venture capitalist and Angel investors, how they work, Purpose of fund raising etc. He said” Fundraising is not just a means of raising money, but also a way to scale-up their enterprise to the next level.”
Dream Start-up Challenge, 2019 was conducted in two sessions. The first session was orientation followed by Kick-off session. In Orientation session, the start-ups were registered online and then pitch their ideas before jury then they got shortlisted. There were more than 100 entries for pitching and out of which 16 start-ups got shortlisted for mentoring round. In the kick-off session the 16 start-ups got to know about funds raising and sources available. There was one to one interaction with each start-up for problems related to fund raising and investment. The shortlisted start-ups will get free mentoring support for 2 continuous months. The final pitching before investors is expected in the end of February month. The Valedictory held just after the kick-off session. It was held in the presence of all the eminent guests Vivek Kumar, Siddharth Chatutvedi, Amit Raje, CEO AIC Artech, officials of CII, YII,and AISECT and all 16 Start-ups. The event was highly appreciated by the audience. The start-ups admit that by this event they got a chance to understand funds and fund raising in nut shell. They were interested to attend such programs.