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Two B-plans win seed funding at IIM-C contest

Two B-plans win seed funding at IIM-C contest
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First Published: Mon, Feb 04 2008. 11 02 PM IST
Updated: Mon, Feb 04 2008. 11 02 PM IST
Bangalore: Two business plans, in online publishing and education, won over judges at i2I 2008, the annual B-plan showcase organized by the Indian Institute of Management, Calcutta (IIM-C). Mumbai-based Seedfund, which invests in very early-stage companies, has initiated the funding process with the winning teams—Mudranik and UniApply. This is the first time a B-plan contest has an investor committed to funding the winning idea instead of awarding a cash prize.
“We are keen on both plans, and we are working out terms for funding them,” said Mahesh Murthy, partner, Seedfund. Team Mudranik, formed by Abhaya Agarwal, Jaya Jha and Sachin Agarwal, wants to offer self-publishing services to users. It will provide tools to users to design their own books and sell them on an online platform. UniApply, formed by Kamlesh Ladhad, Kaustubh Gupta and Ranjan Banerjee, wants to provide a student information portal on colleges and courses available across India.
Both winning plans came from individuals currently working for corporates. They will have to quit their jobs and start the companies to be eligible for funding. Seedfund is also in talks with a third finalist in the travel media space.
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First Published: Mon, Feb 04 2008. 11 02 PM IST