The selection of these startups was made by an eminent jury and through a proprietary ‘Investor Readiness Report’ process, ensuring the companies are thoroughly vetted
Bengaluru: The scene at Ritz Carlton on Friday was one of excitement with finalist founders of 28 startups, selected through a rigorous filtering process out of 14,000 applications received, seeking spot funding from 12 plus investors. They were from a wide range of industries including solar energy, electric vehicles, e-commerce, technology, agriculture, animal husbandry, Ayurveda, water conservation, payment gateway etc.
The selection of these startups was made by an eminent jury and through a proprietary ‘Investor Readiness Report’ process, ensuring the companies are thoroughly vetted. Out of 14,000 plus interested companies, 553 were shortlisted through the initial screening. After further filtering, 100 Investment Readiness Reports were prepared. The next round of assessment brought the number down to 35 and then the final most eligible 28 finalists were selected. It was a tough and thorough process of selection.
There were 12 Master Investors and one Deal Master, Nalin Singh of Natio Cultus, on the panel of the TV show format. The invited audience included 100 plus partners who were incubators, mentors, investors and business experts from Indonesia, Singapore, USA and other countries. There were 31 partners who wholeheartedly and actively supported by outreaching their network to encourage companies to apply for the event. Many finalists were referred by the partners. Out of 28 startups who pitched, 13 received offers from the investors and 8 were accepted. This totals to confirm spot deals in excess of INR 25 Crores. With an additional three deals still open, the number is expected to touch INR 42 Crores. One deal was struck by a member of the audience. On the confirmed deals alone, this is India’s largest single-day startup funding event ever.
The organisers are Natio Cultus Consultancy Pvt. Ltd. who had ideated and executed successful editions of this event in 2017 and 2018. This year they partnered with Horses Stable a TV web series, which was launched recently. The recorded event will be telecast in the future episodes of Horses Stable.
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Source: ANI
