Amrita Technology Business Incubator (TBI), the non-profit incubator supported by the government and Amrita University, has chosen India’s top 5 start-up companies to invest over $150,000.
The start-ups were chosen in the third edition of the incubator’s annual event called ‘The TBI Pitch Fest 15’ conducted at the Amrita Vishwa Vidyapeetham, Bengaluru campus. This year’s event received over 450 online registrations of which 380 were IT related start-ups and was attended by over 1,500 innovation enthusiasts from the start-up eco-system.
“The five finalists who will receive a total of ₹1 crore in seed funding are Pingbits, StratDecider Analytics Private Ltd, Velnatural Fibers, Shradhanjanli and Discover Dollar Technologies. With the exception of Velnatural Fibres, the other four are IT product and services start-ups,”
Snehal Shetty, Vice President, Amrita TBI told BusinessLine. Besides Shetty, the other judges for the event were Nikhil Agarwal and Subranil Gangabasi from the Entrepreneur Café; Abhinav Chaturvedi, Vice-President, Accel Partners; and the CEO and Director of Amrita TBI.
Since its inception in 2008, Amrita TBI has incubated 19 start-ups, mentored 105, built 25 products, filed for four patents and trained 4,900 students to date and have incurred zero per cent loss from their investments. “So far, we have taken up to 5 per cent stake in the start-ups that we have invested in,” said Shetty.
The event was inaugurated by Deb Barma IAS, Director- IT&BT, MD- KBITS, who also inaugurated the new Amrita TBI Bengaluru Facility. The event also had workshops and interactions with Anirudh Sharma, Co-Head, MIT Media Labs India Initiative; Tushar Vashist, Founding Member and CEO, Healthifyme; Nikhil Moorjani, Head of Sales and Marketing, Healthifyme; Chandan Raj, Chief Operating Officer, yourstory.com; Gururaj, Founder, Mobhe; and Varun, Founder, Sky-Box.in.
Start - ups, PitchFest 2015, national-level contest, Anirudh Sharma, MIT Media Lab, funding, non-profit incubator,NASSCOM, Indian Express, USD