Atal Community Innovation Centre at BML Munjal University announces USD 1 mn funding for startup enthusiasts at Propel Pitchfest23

Gurugram: BML Munjal University (BMU), a Hero Group initiative, is gearing up to host the fourth edition of Propel Pitchfest23, a two day event on April 27 & 28, 2023. The Pitchfest will witness startups and student ventures from across India pitch their ideas to a jury of investors and founders, receive feedback, gain recognition, and win exciting prizes. The Pitchfest is a platform provided by the Atal Community Innovation Center (ACIC) and Propel Incubator at BML Munjal University (ACIC-BMU|Propel) to encourage and foster the spirit of entrepreneurship and innovation amongst young minds. Alongside, an academic conference on Entrepreneurship, Innovation, and Society (EIS) would be conducted on the same day. This conference is a beacon for those interested in the intersection of entrepreneurship and social good, as it showcases the ways in which entrepreneurial thinking can be used to solve pressing societal issues. Both the events will be held at the campus of BML Munjal University in Gurugram. 

India is the hub of the ‘Startup’ ecosystem in the world, ranking third with 90,000 ‘Startups’ and 107 unicorn companies worth $30 billion and youth has been recognized as a significant contributor towards this milestone. 

In line with BMU’s mission to create and promote an ecosystem to nurture ‘Entrepreneurs’ who are innovative, tenacious, ethical, and have a zeal to create economic value and societal impact through their novel ventures that will ultimately solve the problem for the world, Propel Pitchfest23 is a platform provided by ACIC-BMU|Propel. The Propel Pitchfest23 is open to all startups across the country, including students and especially women. Applicants will have the opportunity to seek funding from a set of investors (Angel & VC funds) who will collectively have an investment chest of USD 1 Million (INR 8+ cr). There are many other benefits being provided to the startups by the ecosystem partners including ZOHO for Startups, AWS Activate, Qapita, Samvad Partners, Power2SME, and The Office Pass.

The Propel Pitchfest23 has offered two tracks for startups to participate in: Pre-Revenue and Revenue Track. The focus areas include startups founded by women, into smart manufacturing (Industry 4.0), deep techs, sustainability and social impact, and mobility. Entries were invited through the ‘Unstop’ website and the ‘Accubate’ platform of ACIC-BMU|Propel. The finalists will be chosen through a multiple-level process with a jury consisting of investors and successful entrepreneurs. During the grand finale, the applicant startups will pitch to the investors with the objective of convincing them to invest in their venture.

This new edition of Propel Pitchfest23 promises to be a platform for startup founders to connect with a wide base of investors and open up opportunities for their ventures to grow. With immense networking opportunities, inspirational talks, and the chance to secure funding and incubation support, the Propel Pitchfest23 has the making of an opportunity hub for budding startups and the founders.

“We have seen a phenomenal response from the young entrepreneurs and students alike to be a part of the Propel Pitchfest23, we are excited to see the energy and enthusiasm of the startup community and look forward to an exciting finale,” said Prof. Davinder Singh, CEO, ACIC-BMU Foundation. “The event over the years has evolved as a prestigious platform for budding founders.  With a focus on funding, networking, and incubation, the Propel Pitchfest23 is expected to attract some of the brightest minds in the startup space offering a platform for innovative and impactful ideas to take flight. This is our effort to  help build a vibrant and sustainable startup ecosystem in the country.”

Adding on to this, Dr. Deepak Pandit, Chair Professor- Innovation and Entrepreneurship, “The EIS conference is an unparalleled opportunity for attendees to learn from some of the most experienced and successful entrepreneurs and social innovators, who will share insights into how they have harnessed their skills and businesses to make a positive impact on society.”

Till now, the Pitchfest has seen interest from thousands of budding entrepreneurs. Propel Pitchfest23 is a testament to BMU’s commitment to promoting entrepreneurship and innovation through higher education in India. By providing a platform for startups to showcase their ideas and connect with investors. ACIC-BMU|Propel is proud to host Propel Pitchfest23 and looks forward to witnessing India’s brightest and most innovative startups compete for top honors.

Moreover, the EIS conference seeks to identify some of the current theories and research on entrepreneurship and assess its impact on the community. It will also explore ways in which social enterprises and startups could innovate and solve societal problems. The conference would also be inviting people from across Engineering and Technology, Law, Liberal Arts, and the Management disciplines to present their research findings. Attendees would be inspired and motivated by the discussions on “Mainstreaming Impact Investment in Startups: Imperative for the Future” and “The Role of Academia in the Startup Ecosystem in India.” 

For more details about the Propel Pitchfest23 and EIS conference, please contact [email protected] and [email protected].