Shaheed Sukhdev College of Business Studies Innovation and Incubation Foundation (SIIF) provided a platform to young entrepreneurs to pitch their ideas to real investors and experts, to create connections and to strengthen their knowledge for the real world. The event also provided exciting opportunities and cash prizes.
Shaheed Sukhdev College of Business Studies (SSCBS) hosted its Investors’ Pitch Day on 25th July 2019. The event was organised by SIIF, with support from YUVA, the E-Cell of the college. The Investors’ Pitch Day is an exciting platform which acts as a mediator between aspiring entrepreneurs and the seed funding they require to either sustain, or expand their startups.
Out of the 50 incubated start-ups with SIIF, 15 starts-ups which had the most promising growth and business model were shortlisted to pitch their startups to a board of savvy and experienced investors, which included Saurabh Jain, Paytm Vice President, Rohit Goyal, Founder Windrose Capital, Ravi Kant, Ex-Business head, Royal Bank of Scotland, among others.
Each entrepreneur was given a time limit of seven minutes to speak, followed by an interactive Question and Answer session with the panel of investors. The venture capitalists assessed the various business models on their revenue streams, profitability, growth aspects, management structure and their social responsibility. Companies were also specially commended on their contributions to real-world problems.
Saurabh Jain on the occasion said, “Entrepreneurship is not just a profession, but a state of mind.” He talked about the importance of job creation and self-learning. Jain went on to ignite the young minds by talking about the political system and how the solutions to the problems of this world now lie in our hands.
The platform was beneficial to the entrepreneurs that pitched their start-ups as they got fruitful critiques and pieces of advice from the investors, and it was enlightening for the audience who got key insights into the process and art of raising funds. These young entrepreneurs were provided with a platform to face real investors and to dig deeper into their potential of growth.
Vrinda Dube, Founder Knick Knack Nook, speaking to DU Beat said, “I have been incubated at SIIF for over a year now and SIIF has provided us with the foundational requirements like office space, office support and more. In terms of the event, it is a very well managed event with a lot of interesting investors.”
The entire program was power-packed with astute entrepreneurs along with features like a session on entrepreneurship, audience address by notable venture capitalists and the networking lunch to bridge the gap between the entrepreneurial community. The first half of the event witnessed start-ups like Woocoupons, a socially responsible advertising agency, Gamer Planet, an official PUBG tournament app and Knick Knack Nook, an economically feasible alternate to every-day jewellery.
Followed by the address of the keynote speaker, Jain highlighted the importance of entrepreneurship and said, “Entrepreneurship gives the economy job-makers instead of job-takers. It solves problems instead of relying on the government or authorities to come up with solutions.” He added, “even if a person doesn’t make it as a successful entrepreneur, there’s a cushion you can fall back to as you will be a very desirable employee.”
Later, start-ups like Emergency Vehicle Approaching Light (EVAL), and D-comfy, that rents house spaces to students at economical rates without any barriers approached the dais.
Shivansh Jindal, the E Cell, YUVA’s President, told DU Beat, “Most of these start-ups without the funding will blow past their saturation point. SIIF and Investor’s Pitch Day gives them an opportunity to raise their ask for a share in their companies. Investors here will negotiate and discuss the numbers in great detail to determine the overall valuation of the company. It is the process of connecting those who have money to those who need money. SIIF not only gives them access to investors but also helps them with their pitch desks, office support. SIIF truly mentors the start-ups.”
In conclusion of the event, after rounds of deliberation between the panel the following were felicitated with recognition and cash rewards from SIIF and PaytM collectively:
Best Use of Technology – DesignX
Most Innovative Pitch and Idea – Perspectico
Best Pitch – Chocowishes
Idea with Huge Social Impact- Medulence
Maximum Business Impact – Keep It Fresh
Choice of Youth – Knick Knack Nook
The event was an incredible initiative and a great success for mobilising the funds between those who have it access, and those who need it. The event portrayed how entrepreneurship can build a country’s economy, especially in a country like India, where educational unemployment exists in great proportions.
Feature Image Credits: Surbhit Rastogi for DU Beat