IIM L Biz Plan competition to provide funding for start-ups

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MBAUniverse.com News Desk |
July 28, 2016
Do you believe that your new venture has the capability to succeed but are wondered about managing the much-needed funds to give it a boost?

To provide helping hand for such business plans, Abhiyan, the entrepreneurship club of IIM Lucknow is organizing a platform 'Start-up Showcase' as a part of Nirvaan 2008 on January 13. The ‘Start-up Showcase’ is being organized in association with Seedfund, NEA-IndoUS Ventures, GEN, TiE and Baring Private Equity Partners.   

It’s a platform for participants to present their Business plans and pitch for VC funding. On the occasion, budding entrepreneurs will get opportunity to pitch their business plan in front of partnered organizations and secure mentoring on their business plans from India's leading entrepreneurs including Sanjeev Bikhchandani of Naukri.com   , Anand Lunia of Seedfund and Rohit Agarwal of Techtribe. Budding entrepreneurs can submit their executive summary of existing business by December 20.

According to IIML, "It will be a forum for both embryonic and established entrepreneurs dreaming to make it big to pitch their business plans before the event partners and angel investors and secure funding. Seedfund will be open to fund the businesses to the tune of $200000 if found creditable enough.” Further IIM-L added, “The event is open not only to B-school students and graduates, but also to the common public.”

In Nirvaan 2005, winner Prakash Mundh founded a successful company 'Sacred Moments'.  The company producing 'Blessingz', a puja-kit, with the funding provided by IIML saw sales to the tune of 34 lacs in less than 6 months.   

Abhiyan, the entrepreneurship club of IIM Lucknow, which aims to promote an entrepreneurship, culture in India was born in 1999. Abhiyan has developed a network of valuable mentors around the world, including successful entrepreneurs, venture capitalists, & professionals. Personalities such as Neomagic Corp CEO Prakesh Agarwal, Walden India director Sudhir Sethi, Decide.com CEO Prasad Roy and Ecode CEO Rohit Chandra. Sun Microsystems director Mr Deepak Bhagat, and the JumpStartUp managing director, Mr Sanjay Anandram, have already been on its board of advisors.