Pitch Fest has enabled new businesses to give access to the global leaders get mentorship, networking and investments
- Upto $ 1 million worth of equity funding is at stake apart from a guaranteed investment of $ 50,000 to 2 of these businesses.
- JAN, a body of prominent Jain businessmen, industrialists, consultants and professionals has been consistently helping startups and enabling new-job creation.
New Delhi, 30 October, 2018: In a bid to strengthen India’s startup ecosystem, help new-job creation and boost consumer spending, JITO, a leading trade association of prominent Jain businessmen, professionals and academics,has organize its first ever ‘Million $ Pitch Fest on the 30thof October, 2018, for entrepreneurs who are looking for mentorship, business connects, networking and investments in UK at Londonas part of its annual 4-day International Business and Networking Conference that startedon 28th Oct’18. Seven companies comprising of 6 from India and 1 from the USA have got the platform to raise equity funding and win 3 awards
New entrepreneurs (less than 6 years in operation)require funding to sustain themselves during their critical initial phases. Hence, competing startups will pitch their business ideas to JITO’s panel of experts. Winners will receive mentoring and qualify for Funding at JAN .
7 companies from different sectors who travelled to UK include ‘RentEzee’, an online P2P rental community that enable people to earn money off idle assets, ‘Vacus’, a fog enabled IoT for indoor positioning and tracking within a resolution of 30 cms using local satellites, ‘Questerra’, a web platform enabling learning, networking and growth via curators and mentors in all required fields, ‘Linksmart Technologies’, a smartphone app interface that secures products and packages from counterfeiting, tampering and content refilling using its proprietary SmartDNA technology, ‘Fabulyst’, an AI platform that translates product catalog images into extended textual metadata based on design elements and current market trends, ‘Drofika’, a data processing system that leverages blockchain tech and fog computing to reduce latency in IoT devices across industries and ‘PeriFerry’, a social business venture that lets transgenders access education, employment and entrepreneurship through aware and sensitized workshops and education at the workplace.
Speaking of the initiative, Dr Narendra Shyamsukha, Chairman JITO Incubation and Innovation Foundation and Founder Chairman, ICA Edu Skills, said, “Startups are vital to a nation’s economic health. They are a signal to investors of a nation’s business bottom line and are the engines of new job creation, rising incomes and consumer optimism. They are also the engines of change and disruption is society and economies. We are proud to be associated with bringing innovation into the world by building an ecosystem for new entrepreneurs and startups to elevate themselves to a competitive level in the existing market where speed, flexibility and opportunity can make a huge difference to the direction that progress takes. We will provide complete hand-holding and mentoring to deserving organizations by our global network of prominent Jain businessmen, industrialists, consultants and professionals in various fields.”
Among the objectives of JITOpreneurs 2018 are promoting entrepreneurship, to provide a platform for dynamic startups, to inspire new thought processes within organizations, to promote global networking, to explore novel business opportunities in the UK and Europe and to enhance Indo-UK business collaborations.