Now a TV reality show for startups to get funding
A clutch of investors, including Omaxe CEO Mohit Goel, Inditrade Capital's Sudip Bandopadhyay and People Group Founder & CEO Anupam Mittal, will select startups in a reality show for seed funding in range of Rs 30 lakh to Rs 1 crore.
Metropolis Healthcare MD & CEO Ameera Shah, iProspect India CEO Vivek Bhargava and The Beer Cafe Founder & CEO Rahul Singh are the three others who have come together as investors at the reality show named 'The Vault'.
The upcoming reality show, which will be telecasted on a private news channel from October, aims to provide aspiring entrepreneurs a unique opportunity to pitch their business ideas to a panel of investors on TV and seek funding for their ventures.
The Vault has invited applications from emerging startups, SMEs, the student community as well as household and rural ventures. It has received thousands of entries so far, of which 50 most innovative entries will stand chance to bag funding from industry veterans.
These six investors would quiz 50 of the most innovative, and disruptive business ideas that would make it to the show after passing a rigorous scrutiny.
They would evaluate each ideas on aspects such as innovation, novelty, growth prospects and viability of the idea before deciding to invest.
"An average investment size could be anywhere around Rs 30 lakhs to Rs 1 crore. But there is no upper limit set," said Jatin Goel, Creator, The Vault.
While 5 of the investors will be amongst the main investors on The Vault, Anupam Mittal will be associated with the show as a guest investor.
"The Vault has been conceptualised as more than just another avenue of investment for aspiring entrepreneurs. It is meant to be a platform that will help develop a robust start-up ecosystem that fosters innovation and drives growth for promising business ideas irrespective of the sector they operate in," Jatin Goel said.
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