The Indian Institute of Technology, Bombay (IIT-B), will host a venture capital (VC) pitch for start-ups on 10 February, along with its premier business plan showcase event Eureka! for the first time. Similar to start-up showcases such as Proto.in and TiE-ISB business plan competition, IIT-B will select 20 start-ups that will make presentations before a panel of venture capitalists. The programme is part of E-Summit, a day-long event organized by the institute’s Entrepreneurship Cell and includes mentoring sessions for start-ups.
About 10 VCs, including Draper Fisher Jurvetson, Lightspeed Venture Partners and Mayfield Fund, will participate in the programme, which will run parallel to Eureka! While Eureka! is focused on very early stage and student level business plans, the VC pitch showcases companies which are one to three years old, with a ready business and prototype. Unlike Eureka!, whose winners will get a cash prize of Rs14 lakh, start-ups in this segment may get up to Rs5 crore funding from VCs, according to the Entrepreneurship Cell. Each company will be given 25 minutes to demonstrate its product. Last date for submission is 26 January. For more details, visit www.esummit.ecell.in.