Fintech CoE at NSRCEL, IIM Bangalore Selects 10 Fintech Startups for Grants in partnership with HDFC Bank Parivartan

NSRCEL at Indian Institute of Management Bangalore (IIM Bangalore), through its Fintech Centre of Excellence (CoE) supported by the Government of Karnataka, has partnered with HDFC Bank Parivartan, the CSR arm of HDFC Bank, to support startups creating measurable financial impact in India.

The initiative supports early- and growth-stage fintech ventures building solutions across lending, payments, insurance, wealthtech, regtech, embedded finance, and allied domains. The collaboration combines grant support with strategic ecosystem access to help startups strengthen business fundamentals, improve market readiness, and expand access to formal financial services for underserved segments.

Startups were selected through an open call curated by NSRCEL, followed by a joint evaluation process conducted by NSRCEL and HDFC Bank. A total of 17 startups presented their innovations during the Demo Day, after which 10 startups were selected to receive grant support under the HDFC Bank Parivartan Program.

The startups selected for the grants include:

1. Entitled
2. Dhiway
3. Finsall
4. PropLegit
5. Lark Finserv
6. INKA
7. ValuEnable
8. GreenFi
9. Xaults
10. Saventh

“Fintech has the power to meaningfully expand financial access and resilience in India-but only when innovation is grounded in real, measurable outcomes. Through this partnership with HDFC Bank, NSRCEL’s Fintech Centre of Excellence is deploying CSR capital to help emerging fintech startups move beyond pilots to market adoption. Our focus is on enabling founders to build market-ready, compliant, and scalable solutions that address critical gaps across India’s financial landscape,” said Anand Sri Ganesh.

Beyond grant support, participating ventures will receive outcome-driven engagement tailored to their growth challenges. Founders will have access to on-demand expert support, closed-door interactions with regulators and industry leaders, conversations with successful founders, and curated introductions to investors and ecosystem partners. Each intervention will be aligned to measurable business outcomes, with regular check-ins to track progress and ensure continued relevance.

The Fintech Centre of Excellence at NSRCEL is designed to scale beyond a single cohort, with the vision of becoming a leading hub for fintech startups building in India and scaling globally. The CoE is deepening its focus across areas including MSME financing, CBDCs, embedded finance, wealthtech, and AI in finance.

Through initiatives such as the Fintech Clinic, the CoE continues to bring together startups, regulators, BFSI institutions, and technology players to address emerging opportunities and challenges in financial innovation.

By supporting high-potential fintech ventures, the initiative aims to strengthen India’s innovation pipeline and help promising companies transition from experimentation to long-term growth, contributing to broader financial inclusion and economic value creation.

Ambulance Tech Platform, Dial4242, Raises ₹9 Crore in Pre-Series A Round Led by IAN Group and Strategic Partners

Dial4242, India’s leading tech-enabled ambulance service platform, has raised ₹9 crore in a Pre-Series A funding round led by IAN Group, with additional participation from BioAngels, IIM Bangalore’s NSRCEL, and other prominent angel investors.

The funds will be used to strengthen Dial4242’s mission of ensuring ambulance availability across India by reducing its current turnaround time (TAT) from 12 minutes to under 8 minutes. The company will also invest in technology upgrades, marketing, expansion of medical centers in underserved areas, and key leadership hires.

Founded in 2016 by Jeetendra Lalwani, along with co-founders Nilesh Mahambre and Atin Verma, Dial4242 operates the country’s largest on-demand ambulance network, covering 850+ cities. The platform provides real-time ambulance tracking, automated dispatch, and a 24x7 call center—addressing India’s long-standing issues of emergency response time and accessibility.

With its asset-light and tech-first model, Dial4242 has built strategic partnerships with major players such as Amazon, Zomato, and Swiggy, offering medical support to gig workers nationwide. Its average turnaround time of under 12 minutes makes it the fastest in the country.

“The loss of my father, my greatest inspiration, was the most painful moment of my life—but it sparked a mission to turn grief into impact. This became a mission to ensure that no life is lost due to the unavailability of an ambulance,” said Jeetendra Lalwani, Co-founder of Dial4242.

Padmaja Ruparel, Co-founder, IAN Group, said, “Dial4242 is truly solving a real problem and surely a need that can arise any time. This team led by Jeetendra has already established the operations on a strong footing with a robust business model with a direct focus on saving lives. Dial4242 brings excellent execution with empathy!”

Dial4242 will use the funds to strengthen its tech platform, boost trip volumes through marketing, launch free ambulance services through a low-cost membership, set up medical centers in key areas, and expand its product, business, and operations teams.

Over the next 12 months, the company aims to deepen hospital partnerships, grow its retail user base, and maintain the fastest emergency response standard in India. Dial4242 has been recognized for its innovation and impact in healthcare by ET Now and has received the prestigious Maharashtra Startup Innovation Award.

About Dial4242

Dial4242 is India’s fastest-growing platform for tech-enabled, on-demand ambulance services. Operating in over 850 cities, it provides swift, affordable, and reliable emergency medical transportation supported by robust technology, a dedicated call center, and India’s largest aggregated ambulance network.

About IAN Group

IAN Group is the country’s single largest platform for seed and early-stage investment, with IAN Angel Network, BioAngels, IAN Fund I, and IAN Alpha Fund enabling entrepreneurs to raise from ₹50 lakhs to ₹50 crores. The platform brings money, mentoring from successful entrepreneurs, and global market access. It is sector-agnostic and has funded innovative startups across 19 sectors in India and 7 other countries, thereby growing the global footprint of companies. IAN has been listed by Forbes as one of the iconic business and economic events of Independent India over the last 75 years, alongside LIC, NASSCOM, RBI, and Naukri.com.

Capgemini India and IIM Bangalore’s NSRCEL, Expand their Collaboration Until 2025 to Support Tech-driven Startups with Social Innovations

NSRCEL and Capgemini India have announced their collaboration once again for an incubation program in Social Entrepreneurship. Capgemini will support NSRCEL to launch 9 subsequent cohorts of Social Entrepreneurship Incubation programs for 3 years starting from 2023 till 2025.

The NSRCEL - Capgemini incubation program aims to solve the problem of validating solutions for product-market fit and evolving business models in Social Entrepreneurship that can scale. It aims to do so by identifying, and incubating startups that are innovating with technology and digital inclusion at their forefront.

There will be a cohort intake every 4 months. Each cohort will consist of 15-20 early-stage innovations with some market traction and is open for both for-profits & non-profits across sectors. Through this initiative, NSRCEL’s “Impact Orbit” aims to incubate 120 social enterprises in the next 3 years and lead the convergence across for-profit & non-profit business models in India, while also building a support stack of partners & service providers for startup success.

In the past, Capgemini's financial and network support to NSRCEL and its ventures came at a critical time during the pandemic in 2020. The collaboration over the last 3 years allowed 4 for-profit startups to pivot and 9 non-profit startups to enter the market from an idea stage. Collectively the 13 ventures have impacted 5.45lakh beneficiaries and gone on to raise 8.5cr+ through grants and equity. These ventures have also built a strong framework for scaling through the support received during the incubation program.

“It gives NSRCEL-IIMB immense pleasure to have an opportunity to work with Capgemini India CSR again, this time for a larger initiative. We are excited to bring them on board as NSRCEL Impact Orbit’s anchor funding partner to incubate 120 social ventures for the next 3 years and help play a pivotal role in us becoming the largest Social Enterprise incubator in India.”- said Anand Sri Ganesh, COO, NSRCEL

“As a leader in digital transformation, it is our firm belief that technology and innovation can be leveraged to create sustainable solutions and an equitable society for all. Capgemini’s digital Inclusion program relies on two pillars: bridging the digital divide and using technology to ensure social and sustainable development for everyone. Our partnership with IIM-B’s NSRCEL will further enhance this mission by supporting early-stage social ventures to tackle the country’s pressing social problems through scalable and sustainable business models.”, said Anurag Pratap, Vice President & Head of CSR – India, Capgemini.

About NSRCEL

With programs specifically catering to entrepreneurs with profit ventures and social ventures, also student and women entrepreneurs, NSRCEL offers its support to various players of the startup ecosystem.

NSRCEL brings together startups, industry mentors, and eminent academicians from its parent institution Indian Institute of Management Bangalore and researchers who thrive on continuous interaction of theory and practice. For details, visit www.nsrcel.org

Professor Srivardhini K Jha takes Over as Chairpersons at NSRCEL

Prof. Srivardhini Jha assumes charge as the chairperson of NSRCEL, the startup incubator at IIM Bangalore, earlier this month. Prof. Jha is Associate Professor of Entrepreneurship at IIM Bangalore. Prior to joining IIMB, she worked as a researcher with the McGill Centre for the Convergence of Health and Economics. She has a Ph.D. in Corporate Strategy and Policy from the Indian Institute of Management Bangalore, an MS in Management Science and Engineering from Stanford University and a B.Tech. in Information Science and Engineering from Bangalore University. Prior to moving into academia, she held several senior managerial positions at Microsoft, Sun Microsystems and Infosys.

Prof Srivardhini Jha has been working as a researcher and teacher interested in innovation and entrepreneurship. Her research interests include innovation strategy of Multinational Enterprises (MNEs) in emerging markets, innovation in the Indian startup ecosystem and social entrepreneurship. With a strong industry background in leading initiatives to build innovation/entrepreneurship capacity in the local ecosystem, she has pursued rigorous and practice-relevant research. Her works have been published in several peer-reviewed international journals such as MIS Quarterly, MIT Sloan Management Review, Management International Review, Annals of the New York Academy of Sciences, and others. She has co-edited a book titled “Shifting Orbits: Decoding the Trajectory of the Indian Startup Ecosystem”, which was published in 2021.

Announcing this key leadership appointment, Anand Sri Ganesh, Chief Operating Officer, NSRCEL, said, “We are pleased to welcome Professor Srivardhini Jha as NSRCEL's new chairperson. Her research focus on Innovation and Entrepreneurship will only accelerate the pace of impact on the ecosystem and our long-standing commitment of bringing together corporate leaders, investors, academia, and entrepreneurs on one platform.”

Commenting on her new role at NSRCEL, Professor Jha said, “Entrepreneurship will play a major role in propelling India towards becoming a US $5 trillion economy. As a prominent center for entrepreneurial learning, NSRCEL is uniquely positioned to nurture and grow entrepreneurs and their ventures at scale and contribute to nation building. During my tenure, I would like to see NSRCEL make a significant positive impact on the entrepreneurial ecosystem in India.”

About NSRCEL

With programs specifically catering to entrepreneurs with profit ventures and social ventures, also student and women entrepreneurs, NSRCEL offers its support to various players of the startup ecosystem.

NSRCEL brings together startups, industry mentors, and eminent academicians from its parent institution Indian Institute of Management Bangalore and researchers who thrive on continuous interaction of theory and practice. For details, visit www.nsrcel.org

IIMB’s NSRCEL and Yunus Social Business Fund Join Hands to Support Social Businesses from Rural India

NSRCEL- the innovation and entrepreneurship hub of IIM Bangalore, has signed an MoU with Yunus Social Business Fund Bengaluru (YSBFB), the pioneers in social business financing and scaling.

NSRCEL’s Impact Orbit Incubation Vertical recently launched its first-ever Rural Entrepreneurship Incubation program. The program aims to identify, nurture and scale social innovations in rural India. It is the first foray for NSRCEL to understand the challenges to scale for-profit impact businesses from rural India. NSRCEL will support nine early-stage startups in scaling their revenues through specialised businesses and investment-readiness training through this program. The goal of this incubation program is to support at least 25% of the cohort to double their revenue and to directly impact 500-700 livelihoods, and indirectly benefit 2500-3000 lives.

While NSRCEL is leading the incubation program, YSBFB will facilitate modules on investment readiness, working capital management, and exposure to different forms of funding, including an opportunity for two ventures to raise debt from the fund.

“The COVID-19 pandemic and the resulting digitization helped NSRCEL serve entrepreneurs from all over. We also started to see first-time founders moving to rural areas, noticing a local problem or a market opportunity, and innovating for the same. This incubation program is a result of unearthing such ventures with a focus on innovative route-to-market solutions & rural livelihood creation, especially employing local women. We are excited to work with an experienced partner like Yunus Social Business fund Bengaluru (YSBFB), which has worked with such ventures globally in other emerging markets like Kenya, Uganda, Colombia and Brazil. We look forward to having YSBFB team engage with our ventures during our November Bootcamp and ready them for future investments in the impact ecosystem.”- Anand Sri Ganesh, COO, NSRCEL.

“YSBFB has always supported social businesses that intrinsically work with rural populations, creating decentralised livelihood opportunities or enabling access to essential products and services. The Rural Entrepreneurship Program comes at an opportune time to build back a resilient India. YSBFB is thrilled to partner with NSRCEL, which has for the last many years promoted the entrepreneurship movement in India.” -Suresh K Krishna, CEO, YSBFB

Below is the list of selected ventures for incubation-

1. Sahrudaya Foods: Sahrudaya aims to bring regional rural recipes which are tasty as well as healthy to your doorstep.
2. Resham Dor: Resham Dor's vision is to revive diminishing craft clusters across India and establish artisans as custodians of their craft.
3. Kulture Street: Aimed towards building a brand that provides skilled Indian artisans a larger market access (online/offline) and a community of loyal customers that love Indian handmade products, across the globe.
4. Kalapuri: Kalapuri embraces artisan communities by giving new opportunities, developing artisans into independent entrepreneurs, training and developing artisan communities and providing global market through Kalapuri platform.
5. IVillage Social Solutions: IVillage aims to address the problem of migration of workforce from rural to urban areas by training rural women to manufacture high quality hand-made products and machine-based stitching processes thus giving them an opportunity to be financially independent.
6. Indian Yards: Indian Yards up-skills women from the communities in the Nilgiris to become fine macrame artisans and subsequently enables them towards becoming an independent producer group.
7. ForSarees: ForSarees is a for-profit social enterprise working with rural artisans, with a vison to revive and popularize indigenous weaves.
8. Bastar se Bazar Tak: Based in Bastar, the organization is working towards improving the livelihoods of tribal farmers through non-timber forest produce.
9. Ayang: Ayang Trust's Livelihood program provides training and market access to farmers in the north-east to help increase productivity and income.

Kotak Mahindra Bank Partners IIM Bangalore and NSRCEL for Developing India’s Future Women Entrepreneurs

Kotak Mahindra Bank Limited (“KMBL/ “Kotak”), Indian Institute of Management Bangalore (IIMB) and NSRCEL- the start-up hub at IIMB announced their CSR partnership to implement the Women Startup Program (WSP 4) to support women by developing their entrepreneurial and managerial skills. The program, launched under KMBL’s CSR project on Education & Livelihood, aims to support ambitious and innovative women entrepreneurs by enabling them to transform their ideas into successful business ventures.

NSCREL at IIMB started the Women Startup Program in 2016 and has constantly reinvented itself and addressed the needs of women entrepreneurs at every stage in their entrepreneurial journeys. It has incubated 400+ female led and owned start-ups.

WSP 4 is the fourth edition of this program by NSRCEL - the centre for excellence on innovation and entrepreneurship at IIMB. WSP 4 will incubate early-stage companies founded by women

entrepreneurs that demonstrate the potential to innovate, implement and create social or financial impact, especially in tier-2 and tier-3 cities.

The program commences with a five-week training through Massive Open Online Course (MOOC) to be offered on the digital learning initiative of IIMB, IIMBx platform, for all applicants of WSP 4. In the next phase, shortlisted women will be chosen for a three-month-long virtual pre-incubation program

designed by NSRCEL. In the final phase, shortlisted women entrepreneurs will be selected for incubation for 12 months by NSRCEL based on their prototypes and their pitches to the screening committee. During incubation, the entrepreneurs would work towards product/ prototype

development. They will be assessed based on their performance and growth against the milestones set at the beginning of the incubation phase. At this stage, top entrepreneurs will also receive funding support to grow their ventures.

Professor Rishikesha T Krishnan, Director, IIM Bangalore, said: "Our CSR partnership with Kotak Mahindra Bank will enhance the entrepreneurial and managerial skills of women business leaders by supporting the incubation and funding needs of their ventures early in the ideation stage. I am confident that the cohort of the program will build a vibrant ecosystem for women-led enterprises across the country.”

Rohit Rao, Joint President & Group Chief CSR Officer, Kotak Mahindra Bank Limited said, “With NSRCEL’s Women Startup Program, Kotak Mahindra Bank is aiming to build the next layer of fruitful business ventures run by women leaders. The participants will go through a rigorous process of selection and training. WSP 4 will give flight to their imagination and dreams. “Naari Shakti” will exhibit itself in full force when top-notch women of excellent calibre will strive to seek funding for their business ideas.”

Kotak Karma is the Corporate Social Responsibility (CSR) identity of Kotak Mahindra Group companies.

NSRCEL at IIM Bangalore partners with Acumen to Scale Startups Enabling Green Growth

NSRCEL- the innovation and entrepreneurship hub of IIM Bangalore has partnered with Acumen. Acumen is a global non-profit organization that is changing the way the world tackles poverty by investing in sustainable businesses, leaders and ideas. Acumen Academy is the educational arm of Acumen, that provides practical tools and resources to the community of social innovators and builders. Together, they launched their first “Green Growth Accelerator” in July, a 4-month program with NSRCEL serving as the knowledge partner. 

This program provides entrepreneurs with the leadership and business skills needed to promote equitable economic growth in India through the application of dignified work, climate mitigation, and circular economy principles. While Acumen Academy is delivering core modules, NSRCEL will facilitate workshops, and mentoring engagements and support the delivery of the demo day.

“Innovations in Waste to Value Productions, Waste Management and other business models in the circular economy are difficult to scale. Problems in this segment need a large consortium of partners including government, corporates and R&D institutes. NSRCEL & Acumen partnering with each other is the first step in building such a consortium, which would benefit startups in this space. For NSRCEL’s Social Entrepreneurship Incubation Programs specifically, as we diversify into for-profit social businesses, it is a great opportunity to collaborate and learn from a leader like Acumen. We look forward to nurturing the ecosystem together.” – Anand Sri Ganesh COO, NSRCEL – IIM Bangalore.

“As we scale our work on the challenging intersection of poverty and climate change, Acumen is excited to leverage NSRCEL’s demonstrated expertise in building an enabling ecosystem for entrepreneurs in India.” Mahesh Yagnaraman, Country Director, Acumen India

NSRCEL Organises Discussion on 'Budget and Beyond' for Start-ups

In the wake of the recent Budget announcement for 2021 - NSRCEL - the hub of Entrepreneurial Activity at IIMB organized a panel discussion on Budget and Beyond for the startup ecosystem.

NSRCEL brought together ecosystem players like Mohandas Pai - Chairman Aarin Capital and Manipal Global Education, Siddarth Pai - Founding Partner and CFO - 3one4 Capital and Karan Bajaj - Founder and CEO - Whitehat Jr. The session was articulately moderated by Prof. K.Kumar - Dean - Alumni Relations & Development and Professor of Entrepreneurship at IIM Bangalore.

This Panel discussion was based on the implications of the recent budget on the startup ecosystem and the road ahead to facilitate growth in the ecosystem.

Prof. K.Kumar

Prof. Kumar spoke about how the significance of Budget has changed and there is still a lot of work to be done for regulations. He was of the opinion that only if one creates wealth can we distribute wealth. 

Mohandas Pai felt that the budget has not made funding easier for startups! Extending the tax Holliday scheme for startups by one year will not have much impact because of onerous conditions, the capital gains exemption too is too restrictive to be of any use! The PLI scheme will finally give wings to Make in India schemes., sadly start-up founders continue to redomicile overseas because of lack of adequate local funding and restrictive RBI policies! India is at risk of becoming a Digital Colony by 2025 because of inadequate policy responses to incentivize local funding! The budget has been a disappointment for startups!

Siddarth Pai says that it is tough to be credited for being innovative. One Person Company is fantastic for sole proprietorships but a significant drawback, is the very fact that it has a single shareholder. Angel Tax, Section - 68 are essentially, attacks on the startup ecosystem. Cost of capital is also at an all-time high. He feels that India might become a land of subsidiaries unless these issues are addressed & domestic capital is unshackled.

Karan Bajaj said that the government has made start-ups accessible to set-up and that is why they are growing across the country. The recent budget continues to be a positive development. The start-up ecosystem needs to be nurtured as they will go a long way in helping to achieve Make in India.

IIM Bangalore - NSRCEL begins the Women Startup Program with an overwhelming response

NSRCEL, the startup and innovation hub at the Indian Institute of Management Bangalore, has launched the third cohort of the women’s startup program, one of India’s largest startup programs for women. First launched in 2016, with the support of Goldman Sachs, the program continues to catalyze aspiring women entrepreneurs reach their goals. 

The program focuses on the Government of India’s vision of ‘Atmanirbhar Bharat’ and ‘Vocal for Local’. 

The third cohort of the Women Startup Program received more than 10,000 applications from 34 states and union territories across India. The applications received are from early-stage and idea-stage startups of female founders between the ages of 18-60 years. 

Encouraging response 

The majority of the applications received for the program are from the tier-2 and tier-3 cities of the country. The top enrollment states are Delhi NCR, Karnataka, Kerala, Maharashtra, Tamil Nadu and Uttar Pradesh. The program has also attracted the interest of women entrepreneurs from the North East states and Jammu and Kashmir.

 

“The sheer size of the response to this cohort of the program is overwhelming.  COVID may have slowed down a few entrepreneurs, but it has clearly not dented the spirit of entrepreneurship in this country.  Going virtual has made it easier for us to reach aspiring women entrepreneurs in places like Kashmir and Mizoram.  Now that they are here, we, along with a large network of institutions, will make sure that they stay and progress in this journey,” said Prof. Venkatesh Panchapagesan, Chairperson, NSRCEL at IIM Bangalore. 

Program structure 

The program is conducted through a five-week online training course offered on the Government of India’s online learning platform, Swayam, from August 31. 

Shortlisted startups from the online certification course will receive mentoring, startup workshops and potential incubation at NSRCEL.

With endorsement by the Department of Science & Technology, Government of India, NSRCEL works with iCreate, IIMN Foundation for Entrepreneurship Development (InFED), IIMV Foundation for Incubation, Entrepreneurial Learning and Development (FIELD), Indian Institute of Management Indore (IIM Indore), Indian Institute of Management Jammu (IIM Jammu), IIT

 

Guwahati-Technology Incubation Centre (IITG-TIC), Kerala Startup Mission (KSUM), Mizoram University Incubation Centre (MZUIC) and WE Hub to deliver this program.

 

 For details, please visit:

https://www.nsrcel.org/women-startup-program/

NSRCEL launches AIM Catalysts to Help Early-Stage Startups

NSRCEL, the startup and innovation hub at the Indian Institute of Management Bangalore, launched, in virtual mode, a programme for entrepreneurs called ‘AIM Catalysts’, where  early-stage startups, with sustainable ideas, will be welcomed for incubation.

AIM stands for Niti Aayog’s Atal Innovation Mission.       

The AIM Catalysts programme at NSRCEL was launched in the presence of IIMB Director Dr. Rishikesha T. Krishnan, Ramanan Ramanathan, Mission Director, AIM, Ishita Agarwal, Programme Director, AIM, Prof. Venkatesh Panchapagesan, Chairperson, NSRCEL, Prof. Suresh Bhagavatula, Professor of Entrepreneurship, IIMB, and Rajiv Sawhney, COO, NSRCEL.

“NSRCEL was among the first six incubation centres in the country to be supported by the Atal Innovation Mission,” said Prof. Suresh Bhagavatula.

Prof. Venkatesh Panchapagesan emphasized the need for a centre like NSRCEL to adapt to the new norm, make progress during the pandemic, and launch new initiatives, programmes and partnerships. “NSRCEL is also open to taking in global ventures,” he added.

Ramanan Ramanathan pointed out that COVID has created “some never-imagined opportunities for startups in terms of assistive, preventive and curative solutions”. He emphasized importance of teamwork amongst startups, academia, government, and other enablers of the startup ecosystem. “To be catalysed into growth and nurtured from the time it is an idea till it becomes a successful business, the ‘AIM Catalysts’ programme is going to have a tremendous impact in a startup’s life,” he said.

In her overview of the Atal Innovation Mission initiative, Ishita Agarwal listed the number of entrepreneurs impacted, the jobs created, and the mentoring sessions held. She also spoke of NSRCEL being a team player and guiding upcoming incubators. “It’s very important for startups to think about ‘Atmanirbhar Bharat’ and forge ahead,” she said.

To Support Social Start-Ups, NSRCEL at IIM-Bangalore partners with Capgemini in India

NSRCEL, the startup hub at IIM Bangalore, has partnered with Capgemini in India to support social impact startups in the country’s growing startup ecosystem. Of the 28 start-ups that made the pitch, four startups have been selected for this program which will commence in the first week of August. 

The selected startups are BLINK Research and Services, ECONUT Coconut Producer Company Ltd., Learning Matters, and PROSOC Innovators Pvt. Ltd. 

“We are delighted to have Capgemini join us in supporting social enterprises, especially during these trying times.  Our partnership is a unique one as this is the first time that we are making a multi-year commitment to our start-ups to help them scale their operations and enhance their impact,”  said Prof. Venkatesh Panchapagesan, Chairperson, NSRCEL.

The selected ventures will receive, from Capgemini, an entrepreneurial grant of 75 lakhs each, across three years, based on their progress and milestone. From NSRCEL at IIMB, they will gain access to domain mentors and networks that will help them scale. The mentors will address specific challenges and provide assistance wherever required.

“As part of Capgemini’s endeavour to ensure that technology and innovation drive sustainable and social development, we aspire to nurture novel ideas and dreams that have the capability to enhance and transform life. It is wonderful to see young change makers developing novel ideas to tackle the country’s social problems with inspiring energy and enthusiasm. I feel fortunate to be a part of this entrepreneurial movement and wish each one of them the very best for an exciting journey of growth and expansion,” said Mr. Anurag Pratap, Head of CSR India, Capgemini.

With programs specifically catering to entrepreneurs with profit ventures and social ventures, student-run ventures and women entrepreneurs, NSRCEL (www.nsrcel.org) offers its support to various players of the start-up ecosystem.

NSRCEL brings together start-ups, industry mentors, eminent academicians from its parent institution Indian Institute of Management Bangalore (www.iimb.ac.in) and researchers, who thrive on continuous interaction of theory and practice.

About CapgeminiCapgemini (www.capgemini.com) is a global leader in consulting, digital transformation, technology and engineering services. It is at the forefront of innovation to address the entire breadth of clients’ opportunities in the evolving world of cloud, digital and platforms.

25 Fintech Startups Shortlisted for Pre-Incubation Trip at IIMB’s Start-up Hub NSRCEL

Launched in association with ICICI Securities, the initiative could see many of them receiving funding from the CSR fund of the financial services firm.

NSRCEL, the start-up hub at the Indian Institute of Management Bangalore (IIMB), today announced the list of 25 shortlisted fintech start-ups for a 15-month extensive program, which could see many of them receiving funding from the CSR fund of ICICI Securities, India’s leading financial services firm.

The selected ventures will undergo a three-month pre-incubation journey during which they will be engaged in various sessions, workshops, peer-to-peer learning activities while they receive regular one-on-one mentoring and advisory sessions. Networking events, connects with industry experts, mock-pitches and interaction with investors will be major highlights of the program.

Post this, the ventures will be given an opportunity to pitch for incubation and funding and the selected ventures will be taken forward for a further 12-month incubation journey.

The initiative was launched in association with ICICI Securities as part of its CSR activity in April 2020 and received over 240 applications from across the country. The selection panel comprising of Mr. Rajiv Sawhney, COO, NSRCEL, and Prof. Venkatesh Panchapagesan, Chairperson, NSRCEL at IIMB, evaluated all applicants and interviewed over 60 entrepreneurs, before handpicking the finalists.

The ventures selected are early-stage startups working in areas like trading, lending, payments, wealth advisory, insurance tech, accounting and financial management, billing software and auxiliary sector-logistics. The cohort covers the participants from nine cities across India including Bangalore, Pune, Mumbai, Gurgaon, Raipur, Noida, Udaipur, and Hyderabad.

ICICI Securities has undertaken to partner the initiative as it believes that fintech have immense potential in jobs creation and economic growth, something which is a need of the hour for India, which has a large population entering the workforce every year.

The selected start-ups are:

Insurtech Startups	Trading	Lending
Wellmo WIMWISURE Zimyo	Tradebeat Purpletrades	WhatsLoan Credochain Mudra Circle

 

Wealth Advisory/ Investment Platforms	Payments	Accounting and Billing SAAS	Auxiliary
7Prosper Jarvis Capital Quotient Patten Effect Labs	MinksPay Paperking Paymatrix Phi-Commerce Zopnote KhaaliJeb NearPe	GIM Books IDOS India Hylo Challenger	Docboyz

 

ICICI Securities to Fund Fintech Startups Selected by NSRCEL of IIM-Bengaluru

NSRCEL, the startup hub at the Indian Institute of Management, Bengaluru (IIMB), on Monday announced a list of 25 shortlisted fintech startups for a 15-month extensive programme.

The programme could see many of them receiving funding from the CSR fund of ICICI Securities, a leading financial services firm.

The selected ventures would undergo a three-month pre-incubation journey during which they would be engaged in sessions, workshops, peer-to-peer learning activities while getting regular one-on-one mentoring and advisory sessions, a joint statement from NSRCEL and ICICI Securities said.

Networking events, connects with industry experts, mock-pitches and interaction with investors would be the highlights of the programme, the statement said.

After this, the ventures would be given an opportunity to pitch for incubation and funding and the selected ventures would be taken forward for a further 12-month incubation journey, it said.

The initiative was launched in association with ICICI Securities as part of its CSR activity in April 2020, and got over 240 applications from across the country, the statement said.

COO of NSRCEL Rajiv Sawhney and its chairperson Venky Panchapagesan evaluated the applicants and interviewed over 60 entrepreneurs before handpicking the finalists.

The ventures selected are early-stage startups working in areas like trading, lending, payments, wealth advisory, insurance tech, accounting and financial management, billing software and auxiliary sector-logistics. The cohort covers the participants from Bengaluru, Pune, Mumbai, Gurgaon, Raipur, Noida, Udaipur and Hyderabad, the statement added.

Incubation Program for Fintech Startups by NSRCEL, IIMB and ICICI Securities Invites applications for its 1st Cohort

India’s financial technology (fintech) sector is growing rapidly, which is primarily fueled by the emergence of new Fintech startups, abundance of technical know-how and friendly government policies and regulations. 

ICICI Securities (I-Sec), India’s leading financial services firm, as a part of its CSR initiative, has joined hands with the N.S. Raghavan Centre of Entrepreneurial Learning (NSRCEL), the startup hub at the Indian Institute of Management Bangalore (IIMB), in supporting promising startups in the fintech space through a structured program. 

“India is a young nation with over half its population at under 25 years. While the country has made significant strides in digitalization and technological innovation which has made it more competitive in the global landscape, there exists a larger challenge on creation of employment opportunities and jobs for the young population. With the immense potential of the Fintech Sector in jobs creation and economic growth, I-Sec, as part of its CSR initiative, is happy to partner with NSRCEL, one of the oldest incubator cells in the country, to provide mentorship to these startups. We do hope that that this joint initiative will lead to many successful ideas which will provide large employment generation opportunities,” said Mr. Vijay Chandok, MD & CEO, ICICI Securities.

“We had largely remained sector-agnostic in 20 years and this is our first attempt to create impact in a particular domain. Our motivation is simple – focus on an area where there are highly renowned faculty, sufficiently interested students, a large roster of illustrious alumni in that area and finally a thriving Centre of Excellence with deep connections to the industry. Fintech became the natural choice and we are excited to partner with I-Sec to kickstart our maiden program,” said Professor Venkatesh Panchapagesan, Chairperson of NSRCEL at IIM Bangalore.

Startups in ideation to early customer stage will be guided by mentors through need assessment, one-on-one interactions and workshops. The 15-month program is for professionals in Insurance, Trading, Personal Finance, Banking, Wealth Advisory, Lending and Payments and Taxation. These startups can then glide through to the Go-to-Market stage and work on scaling up through guidance, workshops, shared learning, funding, goal-setting through launch of POCs and extensive business growth opportunities. Startups will be getting exclusive access to IIMB resources and industry connections in Fintech. At the end of the program, select startups will also be receiving funding support. 

Apply now to take your fintech startup to the next level!

For more info visit- WWW.NSRCEL.ORG/FINTECH

About NSRCEL

With programs specifically catering to entrepreneurs with profit ventures and social ventures, also student and women entrepreneurs, NSRCEL offers its support to various players of the startup ecosystem.

NSRCEL at IIM Bangalore brings together startups, industry mentors, eminent academicians from its parent institution Indian Institute of Management Bangalore and researchers who thrive on continuous interaction of theory and practice.

NSRCEL is also the first incubator with a program for tailored for social entrepreneurs and their unique challenges.

Visit www.nsrcel.org to know more

About ICICI Securities

ICICI Securities Limited (I-Sec) is a subsidiary of ICICI Bank Ltd. The company began its operation in May 1995 and continues to grow its operation through expanding its client base and providing different type of services.

I-Sec operates www.icicidirect.com, India’s leading virtual financial supermarket, meeting the three need sets of its clients- investments, protection, and borrowing. Through its three lines of businesses -- broking, distribution of financial products, and investment banking-- I-Sec serves customers ranging from the retail and institutional investors to corporates to high net-worth individuals to government.

Infineon and NSRCEL, IIM-Bangalore Tie Up to Nurture Startups in Artificial Intelligence

India unit of German semiconductor manufacturer Infineon and NSRCEL, the startup incubator and entrepreneurship centre at Indian Institute of Management Bangalore (IIM-Bangalore), have signed a memorandum of understanding (MoU) to strengthen Artificial Intelligence and Software Development ecosystem in India by mentoring and nurturing the early and growth stage startups.

Under the collaboration, Infineon will share problem statements and NSRCEL at IIMB will introduce Infineon to the developer community of NSRCEL to foster joint innovation projects in Artificial Intelligence and Software Development. The partnership enables Infineon to offer dedicated training, lab facilities and support strategically relevant startups from NSRCEL with product samples and development kits. Furthermore, Infineon has agreed to provide its technical subject matter experts, as mentors. The partnership also includes introduction of the startups to Infineon’s customers to explore collaboration or business potential and Infineon’s participation in NSRCEL events as a speaker or panelist.

[caption id="attachment_127441" align="alignleft" width="605"] Mr. Rajiv Sawhney, COO - NSRCEL, IIM Bengaluru, Mr. Vinay Shenoy, Managing Director, Infineon Technologies (India)[/caption]

Professor G Raghuram, Director, IIM Bangalore, said: “IIMB is very happy to partner with Infineon, a leading technology company from Germany, in supporting startups. This partnership will be operationalized through NSRCEL, the innovation and entrepreneurial hub of IIMB, and with support from NITI Aayog’s Atal Innovation Mission. NSRCEL will now be able to offer incubation to startups in deep dive technology in a meaningful way.”

“Artificial Intelligence unleashes enormous innovation potential in our industry and offers great business opportunities,” said Dr. Reinhard Ploss, CEO of Infineon Technologies AG. “We see increasing demand for our energy-efficient power and IT-security solutions, which are a prerequisite for developing A.I. In addition, A.I. opens up a vast array of possible applications for the Internet of Things and Smart Mobility.” Reinhard Ploss added: “We want to accelerate the way we learn about A.I. and identify use cases early on. By working together with NSRCEL and IIM Bangalore, we aim to join forces with India’s innovative entrepreneurs and startups in this field.”

NSRCEL, the center for innovation and entrepreneurship at IIMB, is supported, among others, by the Atal Innovation Mission (AIM) of NITI Aayog. Infineon had signed a Statement of Intent with NITI Aayog earlier this year to support the Atal Innovation Mission. NSRCEL also supports academic research to promote a better understanding of the entrepreneurial context and entrepreneurial strategies in the Indian context.

It may also be recalled that earlier this month, and another private firm, Mphasis, has too partnered with NSRCEL at IIM-Bangalore, as part of its Social Venture Incubation Program, to support ‘early-stage social ventures by incubating and supporting 'for profit' social ventures and comprises start-ups that have been in operation for one to three years

Headquartered in Neubiberg, Germany, Infineon Technologies AG is a leading semiconductor solutions firm that make life easier, safer and greener. Microelectronics from Infineon is the key to a better future. In the 2018 fiscal year (ending 30 September), the Company reported sales of €7.6 billion with about 40.100 employees worldwide. Infineon is listed on the Frankfurt Stock Exchange (ticker symbol: IFX) and in the USA on the over-the-counter market OTCQX International Premier (ticker symbol: IFNNY).

~ Business Wire India

IT firm Mphasis partners IIM Bangalore to Incubate Social Startups

Mphasis F1 Foundation, the CSR arm of IT firm Mphasis, has partnered with NSRCEL, the startup incubation centre at the Indian Institute of Management, Bangalore (IIM-B), as part of its Social Venture Incubation Program, to support ‘early-stage social ventures. The program aims to incubate and support 'for profit' social ventures and comprises start-ups that have been in operation for one to three years, announced the company in a press release.

The programs focus is on helping startups build financially sustainable and scalable models in the
area of education, livelihood and disability.

The program received 550 + applications from social ventures out of which 16 promising ventures were selected to
go through a 3 months pre-incubation program. Following the pre-incubation, shortlisted ventures was given an
opportunity to pitch before an advisory council for selection in the incubation program which will be for a period of 12-18 months.

Selected ventures include TAXSHE Services Private Limited, ECONUT Coconut Producer Company Limited, Blink Research and Services Private Limited, ThinkZone and Rural Caravan Private Limited.

These selected startups would receive an entrepreneurial grant and will be supported through a series of curated events and workshops aimed at addressing specific challenges and areas of assistance required. Additionally, these ventures will also be able to avail on-site infrastructure as well as expand their network through interactions with ecosystem partners, IIMB faculty, alumni and subject matter experts.

Speaking on the partnership, Srikanth Karra, Chief Human Resources Officer, Mphasis, said: “The talent present in
the startup ecosystem in India has been visibly increasing over the past few years. However, support to social
enterprises is still limited It is essential that social enterprises also get the right kind of support in mainstream incubators to ensure they can make telling contributions within the industry space. Our partnership with IIMB is aimed at addressing this issue and through the facilities and mentorship support, we hope to enable the selected social ventures to achieve their highest potential."

Professor Suresh Bhagavatula, Chair, NSRCEL at IIM Bangalore, explained: “NSRCEL has been helping early stage
ventures since 2002. Leveraging this experience and expertise, the Social Venture Incubation Program was
launched in 2017."

"NSRCEL Social Ventures is the first-of-its-kind incubator of the country with an ascertained focus is to create a playbook and template for social enterprises incubation. Such an approach can be replicated at other academic institutions and incubation hubs across the country. This initiative aims to identify, engage and support early-stage social ventures with high growth potential to build scalable models for sustained impact," said Bhagavatula.

The event was also marked by a panel discussion on ‘Social Entrepreneurship: Values, Objectives, and
Sustainability’. The panelists included Srivardhini K Jha, Young Faculty Research Chair and faculty in the
Entrepreneurship area, IIMB, Anuja Master Bose, Philanthropy Strategy Advisor, Villgro Innovations Fund, Srikanth
Karra, Chief Human Resources Officer, Mphasis, Sudha Srinivasan, CEO, N/Core, and Vandana Suri, Co-founder,
TAXSHE. The discussion will be moderated by Dalhia Mani, Young Faculty Research Chair and faculty in the
Entrepreneurship area, IIMB.

“Given the scale of social and economic services that are needed at the bottom of the pyramid, social ventures and
an ecosystem to support them are extremely important for India, and this panel aims to bring people together to
discuss and learn together,” said Dalhia Mani, Young Faculty Research Chair and faculty in the Entrepreneurship
area, IIMB.

Here Are The Eight Startups Selected By IIMB For Its Non-Profit Incubator

IIM Bangalore's NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) has shortlisted eight early-stage non-profits for its 18-month incubation programme. All the selected eight startups are working on solving some of the toughest education and skills challenges that poor communities in the country are facing.

The programme is an inclusive part of India's first-ever, non-profit startup incubator supported by the famous Michael and Susan Dell Foundation. Some of the selected entrepreneurs are graduates of leading global institutions like Harvard Business School, IITs and IIMs etc.

The selected startups are testimonial of the fact how even the non-profit sector in India is nowadays attracting interest of entrepreneurs in the country.

Since its inception in 2012, NSRCEL has had 19 student-run ventures, 67 incubatees and 65 startups as a part of its Launchpad initiative, creating about 5,000 jobs. Earlier this year, it was one of the two Bangalore-based incubators selected for NITI Aayog's Atal Innovation Mission for scale-up support funding. As a part of the prize, it received Rs 10 crore from the scheme for over two years.

For the unversed, NITI Aayog's Atal Innovation Mission aims to upgrade already established incubation centres to exceptional global standards.

IIM Bangalore received a total of 200 applications for the programme from across the country. Out of these 200, it first narrowed down the number to 24 startups who were then put through a three-month launch pad programme, which ended with a pitching event before a jury of industry leaders. This is when the number was brought down from 24 to 8.

During the 18-month incubation programme, the 8 non-profits will be provided with wraparound services which would include consulting services, mentoring support, and training to enable them to become high-performers in their field. The selected founders will also be receiving a fellowship support of Rs. 18 lakh each.

The eight selected startups are:

Name: Superheros Inc.
Founders: Ashwini Krishnaprasad and Archita Jain

The startup aims to foster a generation of superheroes to create an equitable 21st century by transforming higher education. It looks at equipping students in Industrial Training Institute (ITI) to achieve a better standard of living.

Name: Meraki
Founders: Ghazal S Gulati and Seemant Dadwal

It is an education technology startup aiming to improve parental engagement in a child’s developmental process in low income communities.

The startup aims to create and disseminate relevant, easy to use and impactful information about child’s developmental requirements to their parents. This, will go a long way in empowering the parents to constructively participate in child’s development - at home and through schools; since they believe that nothing less than a collective effort is required to ensure all children get the childhood that they truly deserve.

Name: I-Saksham
Founders: Shravan Jha, Ravi Dhanuka and Aditya Tyagi

i-Saksham is a not-for-profit organisation in India with a mission is to provide quality education to children in remote and unreached areas. It specifically work towards enhancing learning outcomes by training community youth in the age group of 18-30 years as educators.

Name: Bridges of Sports
Founders: Nitish M Chiniwar

It is a non- profit enterprise trying to provide an opportunity for children to train, excel and have a career in sports.

Name: Anthill Creations
Founders: Pooja Rai and Nancy Charaya

The non-profit makes play accessible and affordable for all kids by building low cost and sustainable playscapes by using recycled tyres.

Name: Tarkeybein Education Foundation
Founders: Akanksha Agarwal

Tarkeybein accelerates the process of building reading skills in primary school children. They develop, disseminate and implement a contextual and visual (CV) reading program. They focus on building children's confidence to express and their ability to make meaning.

Name: Guardians Of Dreams
Founders: Gloria Benny, Sujith Varkey, Aditya Surneni and Mekha T

It is a social sector organisation working to provide quality life outcomes to children living in orphanages and sister homes in India.

Name: Mantra4Change
Founders: Santosh More and Khusboo

Mantra4Change is an NGO working with a vision of empowering schools to deliver quality education.

Here Are The Eight Startups Selected By IIMB For Its Non-Profit Incubator

IIM Bangalore's NS Raghavan Centre for Entrepreneurial Learning (NSRCEL) has shortlisted eight early-stage non-profits for its 18-month incubation programme. All the selected eight startups are working on solving some of the toughest education and skills challenges that poor communities in the country are facing.

The programme is an inclusive part of India's first-ever, non-profit startup incubator supported by the famous Michael and Susan Dell Foundation. Some of the selected entrepreneurs are graduates of leading global institutions like Harvard Business School, IITs and IIMs etc.

The selected startups are testimonial of the fact how even the non-profit sector in India is nowadays attracting interest of entrepreneurs in the country.

Since its inception in 2012, NSRCEL has had 19 student-run ventures, 67 incubatees and 65 startups as a part of its Launchpad initiative, creating about 5,000 jobs. Earlier this year, it was one of the two Bangalore-based incubators selected for NITI Aayog's Atal Innovation Mission for scale-up support funding. As a part of the prize, it received Rs 10 crore from the scheme for over two years.

For the unversed, NITI Aayog's Atal Innovation Mission aims to upgrade already established incubation centres to exceptional global standards.

IIM Bangalore received a total of 200 applications for the programme from across the country. Out of these 200, it first narrowed down the number to 24 startups who were then put through a three-month launch pad programme, which ended with a pitching event before a jury of industry leaders. This is when the number was brought down from 24 to 8.

During the 18-month incubation programme, the 8 non-profits will be provided with wraparound services which would include consulting services, mentoring support, and training to enable them to become high-performers in their field. The selected founders will also be receiving a fellowship support of Rs. 18 lakh each.

The eight selected startups are:

Name: Superheros Inc.
Founders: Ashwini Krishnaprasad and Archita Jain

The startup aims to foster a generation of superheroes to create an equitable 21st century by transforming higher education. It looks at equipping students in Industrial Training Institute (ITI) to achieve a better standard of living.

Name: Meraki
Founders: Ghazal S Gulati and Seemant Dadwal

It is an education technology startup aiming to improve parental engagement in a child’s developmental process in low income communities.

The startup aims to create and disseminate relevant, easy to use and impactful information about child’s developmental requirements to their parents. This, will go a long way in empowering the parents to constructively participate in child’s development - at home and through schools; since they believe that nothing less than a collective effort is required to ensure all children get the childhood that they truly deserve.

Name: I-Saksham
Founders: Shravan Jha, Ravi Dhanuka and Aditya Tyagi

i-Saksham is a not-for-profit organisation in India with a mission is to provide quality education to children in remote and unreached areas. It specifically work towards enhancing learning outcomes by training community youth in the age group of 18-30 years as educators.

Name: Bridges of Sports
Founders: Nitish M Chiniwar

It is a non- profit enterprise trying to provide an opportunity for children to train, excel and have a career in sports.

Name: Anthill Creations
Founders: Pooja Rai and Nancy Charaya

The non-profit makes play accessible and affordable for all kids by building low cost and sustainable playscapes by using recycled tyres.

Name: Tarkeybein Education Foundation
Founders: Akanksha Agarwal

Tarkeybein accelerates the process of building reading skills in primary school children. They develop, disseminate and implement a contextual and visual (CV) reading program. They focus on building children's confidence to express and their ability to make meaning.

Name: Guardians Of Dreams
Founders: Gloria Benny, Sujith Varkey, Aditya Surneni and Mekha T

It is a social sector organisation working to provide quality life outcomes to children living in orphanages and sister homes in India.

Name: Mantra4Change
Founders: Santosh More and Khusboo

Mantra4Change is an NGO working with a vision of empowering schools to deliver quality education.

'Shark Tank' is Business Plan Contest for Budding Entrepreneurs; Organized by IIM Bangalore

All the budding entrepreneurs pay attention, Indian Institute of Management, Bangalore (IIM-B) has something interesting in store for you.

IIM-B is conducting a business plan contest called Bzzwings for young and budding entrepreneurs from top engineering institutes and business schools across India. The contest will see angel investors funding aspiring student entrepreneurs.

NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), which is IIM-B’s entrepreneurship and incubation centre, is organizing a ‘Shark Tank’ for the very first time. ‘Shark Tank’ would have angel investors coming in and funding student business plans.

According to G Sabarinathan, Chairperson, NSRCEL, this business plan contest will act as a platform for identifying and nurturing some serious entrepreneurial teams from a sea of entrepreneurs and then helping them start up.

‘Shark Tank’ will be a small five minute rapid fire Question-Answer round where questions will be hurled at contestants by potential investors and the contestants will have to survive them.

IIM-B had invited business pitches earlier this year from students of top colleges, institutes of India such as Xavier Institute of Management-Bhubaneswar, MDI-Gurgaon, Indian School of Business- Hyderabad, Institute of Rural Management, Symbiosis Institute of Management Studies and Delhi College of Engineering, among others.

The top ten pitches will be awarded by getting funding from the ‘Shark Tank’ angel investors. The top two pitches will be additionally rewarded with funding from Indian Angles Network and Mumbai Angles. The top two would also get rent free incubation support from NSRCEL for a period of one year.

The business plan contest will be a part of Vista, IIM-B’s annual business fest. The ‘Shark Tank’ would see two investors offer seed funding to one social venture and one for profit venture each. VGN Prakash and Ubhaya are the two investors. The ‘Shark Tank’ will act as a means of providing seed funding to out of the box deserving ideas and the right to spot these deserving ideas rests wholly on investors.

The ‘Shark Tank’ investors will have full liberty to choose anyone from the top eight teams. An Entrepreneurship Conclave has also been organized after the ‘Shark Tank’.

The top eight teams have been selected from over 120 entries from across India. The process of selecting 8 teams from 120 entries was entirely managed by the NSRCEL and students.  The selection process included four rounds of rigorous screening, progressing from 120 to 64, then 64 to 32 and then finally from 32 to the top 8.

'Shark Tank' is Business Plan Contest for Budding Entrepreneurs; Organized by IIM Bangalore

All the budding entrepreneurs pay attention, Indian Institute of Management, Bangalore (IIM-B) has something interesting in store for you.

IIM-B is conducting a business plan contest called Bzzwings for young and budding entrepreneurs from top engineering institutes and business schools across India. The contest will see angel investors funding aspiring student entrepreneurs.

NS Raghavan Centre for Entrepreneurial Learning (NSRCEL), which is IIM-B’s entrepreneurship and incubation centre, is organizing a ‘Shark Tank’ for the very first time. ‘Shark Tank’ would have angel investors coming in and funding student business plans.

According to G Sabarinathan, Chairperson, NSRCEL, this business plan contest will act as a platform for identifying and nurturing some serious entrepreneurial teams from a sea of entrepreneurs and then helping them start up.

‘Shark Tank’ will be a small five minute rapid fire Question-Answer round where questions will be hurled at contestants by potential investors and the contestants will have to survive them.

IIM-B had invited business pitches earlier this year from students of top colleges, institutes of India such as Xavier Institute of Management-Bhubaneswar, MDI-Gurgaon, Indian School of Business- Hyderabad, Institute of Rural Management, Symbiosis Institute of Management Studies and Delhi College of Engineering, among others.

The top ten pitches will be awarded by getting funding from the ‘Shark Tank’ angel investors. The top two pitches will be additionally rewarded with funding from Indian Angles Network and Mumbai Angles. The top two would also get rent free incubation support from NSRCEL for a period of one year.

The business plan contest will be a part of Vista, IIM-B’s annual business fest. The ‘Shark Tank’ would see two investors offer seed funding to one social venture and one for profit venture each. VGN Prakash and Ubhaya are the two investors. The ‘Shark Tank’ will act as a means of providing seed funding to out of the box deserving ideas and the right to spot these deserving ideas rests wholly on investors.

The ‘Shark Tank’ investors will have full liberty to choose anyone from the top eight teams. An Entrepreneurship Conclave has also been organized after the ‘Shark Tank’.

The top eight teams have been selected from over 120 entries from across India. The process of selecting 8 teams from 120 entries was entirely managed by the NSRCEL and students.  The selection process included four rounds of rigorous screening, progressing from 120 to 64, then 64 to 32 and then finally from 32 to the top 8.