IIT Kanpur to groom startups with UpStart’22 – the annual National Business Model Competition
Kanpur : The Indian Institute of Technology, Kanpur is accepting registrations for the annual UpStart national business model competition. The competition is being organized by the Entrepreneurship Cell – IIT Kanpur’s student-run entrepreneurship body. The national level pitching competition hosts startups to go through multiple rounds of screening, brainstorming sessions at different levels, and face to face mentoring. Finalists get to develop their ideas and hone their business plans with a panel of mentors.
IIT Kanpur already has a dynamic ecosystem for nurturing innovation, entrepreneurship, and intellectual property at the institute. Existing as one of the oldest incubators in the country, Startup Incubation and Innovation Centre (SIIC) was established in 2000 at IIT Kanpur, when the entrepreneurial ecosystem was still at a nascent stage in India. IIT Kanpur, with its technology business incubator, has supported over 100 startups so far. The institute is also home to C3iHub which aims to address the issues of cyber security and cyber physical systems in its entirety. From analyzing security vulnerabilities and developing tools to address them at various levels of system architecture, to nucleating start-ups developing these tools, C3i Hub has been a leading innovation hub.
Under the UpStart competition, five or more shortlisted startups will go through four weeks-long one to one mentoring and brainstorming sessions with a mentor. Startups will get to discuss their ideas and business plans to build a proper legal, operational and structural framework. This one-on-one interaction with experienced Entrepreneur-cum-Mentors from the country promises network enhancing opportunities for the startups.
Following the mentoring sessions, the shortlisted startups will be invited to E-Summit’22 at IIT Kanpur for the finale, starting with One-Minute Elevator Pitches. Shortlisted startups from this session will move to the Final Pitching round, where they will be given the chance to modify their pitch based on the inputs they received. The shortlisted startups will then participate in a 10-minute pitch, followed by Q&As, to present their improved business plans before the UpStart panel of judges, who will give the verdict on the final standings.
Startups which are incorporated at least, if not registered on or after 1st January, 2019, and are not VC-funded, are eligible to register for UpStart’22. The Investor Panel comprise of venture firms:
- Sequoia Capital
- Kalaari Capital
- Chiratae Ventures
- Blume Ventures
- Ankur Capital
- Indian Angel Network
- 3one4 Capital
- Orios Venture Partners
- Anthill Ventures
- Hyderabad Angels
- Dexter Capital Advisors
- Rebright Partners
- IvyCamp Ventures
- SucSEED Indovation Fund
The UpStart Nationals are scheduled in three cities – on 4th December, 2022 in Bangalore and Hyderabad, and on 10th December, 2022 in Delhi. The Investor Panel will vary based on the city.
Nationals will be followed by one on one mentoring for the shortlisted startups who will get to pitch at IIT Kanpur in UpStart Finale. The winners are guaranteed numerous incentives including, but not limited to, on-the-spot funding, cash prizes, incubation at SIIC IIT Kanpur, one-on-one mentorship from industry professionals and networking opportunities at ESummit’22, the flagship event of Entrepreneurship Cell IIT Kanpur. The last date to register for the competition is 30th November 2022.