Hyderabad-based Indian School of Business (ISB) has tied up with The Indus Entrepreneurs (TiE) to come up with Biz Quest, a nationwide initiative for startups that allows them to win up to Rs 1 crore as prize investment. Scheduled to be held from September 20-22, this initiative will also act as a platform for aspiring, early-stage and growth-stage entrepreneurs. Venture funds taking part in this initiative include Sri Capital and Hyderabad Angels.
The platform is open for all early-stage entrepreneurs across the country â€“ from startups to growth-stage companies. However, there are certain key criteria for participation. Startups should be financially promising, sustainable, scalable and also technically and managerially competent. Each venture should have clear-cut product or service offering, must showcase operational innovations and should be at least a year old.
Last year, early-stage venture Green India Building Systems and Services (GIBBS) won Rs 25 lakh as prize investment. The company was incubated at the ISB under the Entrepreneurship Development Initiative (EDI). This year, the amount has been increased to Rs 1 crore for more startups to benefit from the initiative. Winning startups also get a chance to be incubated at ISB-TiE Accelerator Programme.
(Edited by Sanghamitra Mandal)