Have You Taken The Ten Minute Million Challenge Yet?
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For any start-up, once the idea and team are in place, the next question in the founder's mind is "How do I finance my start-up?" It's not an easy path for the entrepreneur from there on, running from investor to investor looking for the right one who would not just fund the start-up but also give valuable inputs on how to help the start-up scale.
According to a study, a substantial number of start-ups fail during their initial years of operation. The lack of funds has been a primary reason for the demise of many start-ups. Money is the bloodline of any business. While an entrepreneur burns the midnight oil to generate revenue for his/her business, the production or operation costs keep mounting up. The long painstaking yet exciting journey from the idea to revenue generating business needs a fuel named capital.
Coming to the rescue of start-ups, and revolutionizing the traditional method of fundraising, E-Cell IIT Bombay launched the first edition of 'The Ten Minute Million' (TTMM) 3 years ago. Currently, into its 4th edition, TTMM has managed to help one out of every two finalists raise funding. The 4th edition is going to be held on 27th and 28th January 2018 at the E-Summit of IIT Bombay.
What's the Ten Minute Million event?
The start-up ecosystem in India is filled with events and most of them promise funding to start-ups. But standing out from the crowd is The Ten Minute Million event. It is a first-of-its-kind event, which involves 10 shortlisted startups pitch for 10 minutes in front of the investor panel and get an on-spot funding commitment for 1.6 million INR.
Ajit Khurana, one of the investor panelists and Ex-CEO of SINE, IIT Bombay said, "Our idea was that you take more than 10 months to raise one round of financing whereas, it can be done in just ten minutes. Be it for entrepreneurs, investors and audience, this is an absolutely outstanding platform."
Success Will be Yours
Being a part of the TTMM will give an entrepreneur the right amount of exposure and guidance to steer the start-up towards success. Over the past three editions, the event has garnered a lot of attention from not just the start-up ecosystem (investors, entrepreneurs and mentors alike) but also from the media.
One of the successful start-ups is Soundrex, who came up with a wearable speaker which provides an experience of being immersed with thousands of speakers all around you during a concert. They created sound effects which were otherwise impossible using a two-speaker setup.
Meet Your Mentor
In this fast-paced event, tension and excitement run high. The past Investor panel consisted of renowned angel investors like Ajeet Khurana, Bharat Banka, Anupam Mittal, Samir Shah, Sanjay Mehta and Anirudh Damani. It is an opportunity that no start-up should miss. It is a shortcut to funding and getting some pretty cool mentors onboard for your start-up.
The registration deadline is 28th Dec 2017, and the finalists will be declared shortly after.
So what are you waiting for? Register to pitch in The 10-Minute Million by visiting https://www.ecell.in/esummit/the10minutemillion