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Thursday, Oct 17, 2019

StartUp Master Class on Sept 29 in Pune: Guiding entrepreneurs through thick and thin

StartUp Master Class has roped in Shubhalaxmi Acharya, Mind Elements, a registered company which has devised a specific test that will help map the founders’ mind and determine the strengths and weaknesses

pune Updated: Sep 22, 2019 16:20 IST
Namita Shibad
Namita Shibad
Hindustan Times, Pune
Nitin Parab, managing committee member and media head of IIT Kanpur
Nitin Parab, managing committee member and media head of IIT Kanpur(HT PHOTO)
         

The Pune Chapter of the Alumni Association of IIT-Kanpur and Delhi will bring their StartUp Master Class (SMC) in the city on September 29. This is the fourth edition of the StartUp Master Class which will be held at the IISER auditorium.

Nitin Parab, managing committee member and media head of IIT, Kanpur, tells us what startups can expect of this event. “Our past events have shown us that one of the biggest issues faced by startups is finding a compatible co-founder. Failure to build a great team is one of the most important reasons why startups fail. We have received 60 applications from startups who are looking for co-founders. We will help them find the right one through our unique testing method and matchmaking,” said Parab.

StartUp Master Class has roped in Shubhalaxmi Acharya, Mind Elements, a registered company which has devised a specific test that will help map the founders’ mind and determine the strengths and weaknesses. Based on this mind mapping, founders will be able to tie up with compatible co-founders.

The StartUp Master Class 2019 will also enable a corporate connect where the participating startups can pitch directly to the 15 top companies. Parab said, “The companies have been given profiles of the startups and they will indicate their interest in the specific startups. Those startups will, then, pitch before them.”

There is also a presence of a strong VC panel, about 12 of them led by Alacrity India Fund, venture capital fund house, a part of the Canada-based investment management firm Wesley Clover International.

“Our team of investors will rigorously evaluate the applicants beforehand on various parametres like fundamentals, market fit, team among others, so that they will be better positioned to cash in on the final day,” said Parab.

The startup community in the city seems to have attracted some international attention too. At the event, a panel of speakers Annie Dube, consul general of Canada and Girish Bhagat of India Nivesh, will share their views on the synergies that exist between startups in Pune and their countries. They will also expand on how Pune startups can tie up with those in their countries.

Pune is increasingly being seen as a startup hub with large acquisitions (Raincan by Big Basket and Torqus by Times Internet) and the emergence of local Software as a service (SaaS) based startups, Dhruva Technologies, MindTickle and Icertis fast-growing to a Unicorn status shortly. This is also helped by the fact that Pune Ideas Factory Foundation was recently incorporated into Pune Smart City Development Corporation as a one-stop shop for startups. Pune Ideas Factory Foundation has created a ₹5 crore fund for startups in Pune and will support 19 incubators.

The StartUp Master Class 2019 is supported by IISER for the venue, Rotary, Event Glint and Cross Link International.

First Published: Sep 21, 2019 19:36 IST

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