TiE Hyderabad enables on-the-spot funding for 5 start-ups at Start-up Heroes event
January 19, 2015 | COMMENTS ( 0 )
The Indus Entrepreneurs (TiE) - Hyderabad chapter today facilitated funding for 5 startups in its event, Startup Heroes - an early stage start-up instant seed funding session. This is possibly for the first time that these many numbers of startups have got funding at a single event an instant funding in the world.
Out of the 200 startups which sent nominations to TiE Hyderabad for this funding event, 10 Startups having a working prototype were selected after multiple rounds of selection. These startups were given five minutes to pitch to 10 investors for a funding of Rs 10 lakh against 8 per cent equity.
At the end of each presentation, the investors talked about their interest in giving principle approval on funding the business idea of the startup. However, in case, they didn't find the business idea interesting enough, then they provided their feedback on the missing items which didn't excite them to fund the idea.
The organisers shared and clarified the terms with investors and startups before the start of the event without leaving any scope of negotiations on the stage. Startup Heroes was organised in partnership with Hyderabad Angels.
A look at the startups which received investors approval:
1) Enabli: It is a lead generation tool for consumer facing businesses. Their proprietary algorithm analyses posts on social media and filters convesations where a user is seeking a business or a service. Enabli is a subscription based service for B2C businesses like photographers, real-estate agents and wedding planners. It helps them with leads that generate more business for them.
2) Yo Grad: It is a community for students to network, learn, share and have fun. They can create clubs; engage in conversations and discussions with students from different colleges. Students can learn, share things and take educated and well informed decisions. They can also earn reward points on the platform and can redeem the same for student offers and discounts.
3) Play your sport: It's a location based mobile app that enables its users to create, join and book sports and fitness activities in their nearby location. It's the market place for sports and fitness.
4) Hostel Dunia: The platform provides an in-depth and much needed information about hostels around you - like facilities, food menu, address, pictures, reviews and ratings.
5) CBS: CBS is an Internet of Things (IoT) product platform based company. The platform help fetch data from different devices and sensors, and provide smart solutions in accordance to bussiness needs. CBS has four verticles live on their platform right now.
In the earlier part of the day, TiE organised its annual flagship event 'SmashUp' for early age startups to enable them to learn the art of building successful ventures from eminent mentors and inspirational successful entrepreneurs. These early stage startups also got the opportunity to network with the investors including angels and VCs.
Commenting on the success of the event, Safir Adeni, President - TiE Hyderabad and Managing Partner, Ineda Venture Group said, "I am very excited to see such a superb response from the investor community to the startups. In the history of startups funding, this is possibly for the first time that 5 startups have received funding at a single instant funding event. I am sure this would further motivate the other budding startups and help us in making Hyderabad as the startup capital of the country."