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Best Social & Commercial Venture to get INR 1 Lac each as Startup Capital at Hatchlings 2011, Mumbai
- Hatchlings 2011 is a pan-Mumbai entrepreneurship competition for Management Students - Mentoring support for the winning business ventures will be provided for 3 months by DeConseil, Singapore
- Hatchlings 2011 is a pan-Mumbai entrepreneurship competition for Management Students
- Mentoring support for the winning business ventures will be provided for 3 months by DeConseil, Singapore
Mumbai, May 05, 2011: IndiaSocial Fund, a Social Venture Capital Fund that aims at setting up a Sociopreneurship Ecosystem, has launched an entrepreneurship competition for the students of the Management Institutes of Mumbai, Hatchlings 2011. Hatchlings 2011 will be run in over 50 Mumbai’s leading Management Colleges. The competition is aimed to boost the imagination of budding ‘Student –entrepreneurs’
Gaurav Shah, CMD & CIO of IndiaSocial Fund said, “Hatchlings 2011 is a one of its kind event, which offers a solid platform to the budding entrepreneurs of India to showcase their true potential. Not only that, but it also offers the necessary ecosystem to the winning ideas to get them off the ground and create a successful venture.”
Gaurav further added, “We are offering the winning ventures, prize money of Rs. 1 Lac for starting up along with the most critical mentoring and hand holding support in the initial months to get the venture successfully started and align their strategies to make it successful.”
Gaurav believes that with the right mentoring support, a business idea can be converted into a very successful self-sustainable business model. He said, “Mentoring is very critical for new entrepreneurs to overcome the execution challenges especially in the early days. Mentoring also helps to align strategies in line with the growth potential of the business and long term sustainability. Once the idea has generated its first few customers, it becomes easier for the entrepreneur to focus on his long term vision.”
On being asked how the response was from the various Management Institutes, Gaurav said, “We are very excited with the encouraging response from the various colleges which have already confirmed their participation. In fact, a lot of the outstation students are back-home during their summer vacation. The course co-ordinators and the e-groups have ensured that they are able to spread the word across to their friends and batch-mates so that no one misses out.”
The students can register their venture ideas with Hatchlings 2011 on www.indiahatchlings.com. Post registration, the event will have 3 rounds of selection process. Top 16 ventures comprising of 8 Commercial & 8 Social Ventures will be shortlisted for the final round. Each venture will have 16 minutes to present their venture to a panel of eminent jury. 2 extra minutes will be provided to Social Ventures to present an impact measurement analysis of their business idea. An eminent panel of jury, which includes Gaurav Shah of IndiaSocial Fund and other Venture Capitalists, will select the best Hatchling from each of the tracks which will be awarded a sum of Rupees One Lac and the mentoring support.
On conclusion, Gaurav said, “All progress depends on the unreasonable men/women and we are truly in search of these unreasonable men/women who will eventually change our nation for good.”
About IndiaSocial Fund -
IndiaSocial Fund (ISF) – ISF is a social venture capital fund that aims to set-up a ‘Sociopreneurship Ecosystem’ in the country. ISF’s mandate includes investing in companies that will uplift the lives of people below the line and fund those scientists whose technologies will bring about an impact on the living environment in India at large.
About DeConseil, Singapore -
DeConseil is a Singapore headquartered Start-up Life cycle management and Investment Banking company with offices in Malaysia and India as well. Since inception in 2007, DeConseil has helped several extremely niche start-ups across industry verticals in taking shape and becoming successful businesses.
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