The Entrepreneurship Cell, IIT Bombay organizing an event called Vulture’s Nest part of Entrepreneurship Summit 2010 which is first event of its kind in the history of Indian entrepreneurship. Its uniqueness comes from its express funding concept and it’s format as a reality show to be aired on ET Now channel starting January 2010.

In the event plus realty show those who are on verge of building any potential start-ups and having one or more business plans with themselves than after selection phase they will have to pitch their ideas to a panel of investors including top VCs in 15 minutes and if they like the idea than participants might get an on-spot express funding.

ET Now would be airing all three strategic events on a segmented basis on their show starting up in January next year.

Vultures nest is a three phase event. The first phase is an online submission of the presentation starting 10 Dec.’09 to 4th Jan.’10. The second phase will be between 16 Jan.- 17 Jan. 2010 which is a preliminary elimination round which is going to be held in 3 cities – Delhi, Mumbai and Bangalore. The Final round will have 10 Finalist to pitch in front of VCs.

The format of show make it the first of its kind in India, however the similar format were being aired on western countries including an event in Seattle, US called Startup Junkies and similar one in New Zealand .