Indian Institute of Administration Ahmedabad (IIMA) Endowment Fund – IIMA’s fundraising and philanthropic arm has introduced the winner for the ‘Finest Startup Pitch Contest’ with a prize cash of 1crore.
An AI powered digital wardrobe answer ideated by a staff of two PGPX graduates – Parul Vashist and Varun Jhaveri – received the competition after a aggressive spherical of displays and discussions with the jury, the institute mentioned.
“That is the primary ever contest with such a excessive gratification that has been introduced by any administration establishment within the nation. The competition, which is able to now be an annual property, has been launched with the target of encouraging IIMA college students to discover entrepreneurship as a profession path,” an official assertion mentioned.
Sharing his views and congratulating the winners, Sandeep Singhal, Chairman, Board of Administrators of IIMA Endowment Fund mentioned, “It’s a very promising decade for progressive and entrepreneurial concepts, and this contest is rightly timed to strengthen this theme. It was encouraging to see their progressive and distinctive concepts, and I’m assured that the competition has helped construct a momentum for entrepreneurship on IIMA campus. I want Parul and Varun the most effective forward.”
IIMA college students had been allowed to companion with staff members outdoors the institute to construct enterprise ideas, checklist out the addressable market, current the aggressive benefit, elaborate on fund utilization and capital requirement, and chart out the gross sales and revenue initiatives within the subsequent three years, the institute knowledgeable.
The successful staff comprised different staff members from institutes like IIT and Duke College.
Moreover the prize cash, the successful staff additionally will get the chance to be mentored by IIMA alumni.
As many as 35 taking part groups – lots of whom are present fellows below CIIE’s IIMAvericks program – introduced startup concepts for the competition, IIM Ahmedabad mentioned.