Seedfund to select business plan from IIM-C contest

Seedfund to select business plan from IIM-C contest

The entrepreneurship cell at the Indian Institute of Management, Calcutta (IIM-C) has partnered with Seed Advisors Pvt. Ltd (Seedfund), a firm that invests in the youngest of start-ups, to put on a pan-India business plan contest.

Submissions opened on 18 November and at least one start-up will leave the contest with an investment from Seedfund, mentoring included. While Seedfund has participated in other events, this is the first time that an investment has been committed.

The first round of submissions will be in the form of a summary and anyone can enter. Because the event will span the country, Anand Lunia, chief financial officer of Seedfund, expects around 300 entrants, although past events have yielded about 150-200.

Around mid-January, 10 finalists across four metros will make presentations to a team comprising one Seedfund representative and other venture capitalists or established entrepreneurs. They will gather in Kolkata on 1 February for the final round.

“We welcome all advice, but the final investment will be outside the public domain," Lunia said. “It has to be a Seedfund investment."

The first prize winner will walk away with Rs1 crore investment from Seedfund.

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