10 shortlisted startups were invited to pitch to a panel of judges. The agenda was to either get selected in 1Crowd’s first incubation programme, ‘Inspire!’ or to receive priority consideration to be funded via 1Crowd’s equity crowdfunding platform.
Commenting on the event, Anil Gudibande, co-founder and Director, 1Crowd said “At 1Crowd, we are determined to identify and nurture startups with potential for large scale disruption in sectors where they operate. ‘The Big Pitch’ served as a platform to identify such startups and we are determined to provide winners with the right resources, mentorship and support to realize their true potential. These startups will benefit from 1Crowd’s unique ethos of working as partners in growth rather than being merely financial investors”.
Out of the 10 shortlisted starups, three winners of the incubation contest were offered admission to ‘Inspire!.’ The incubation program will leverage 1Crowd’s linkages with industry to provide startups access to a wide range of corporates across India. This program is designed to help startups scale up rapidly by providing them mentorship, running pilot projects, enhancing market reach and Seed funding upto $35K (INR 25 lakhs).
The three winners of the funding contest will receive an opportunity to be considered on priority for listing on 1Crowd’s equity crowdfunding platform to raise funding up to $293K (INR 2 Cr).
Related Article: Community Building Platform Fourth Ambit Raises $600K From 1Crowd
The Winners of incubation contest are:
Aspartika Biotech: The company provides bio-technological innovation in supplementary products including omega-3 fatty acids supplements, protein supplements, poultry feed, aqua feed, botanical extracts etc.
Booksbeka: An online bookstore of novels and study material available in regional languages
Codeister Technologies: Codeister Technologies is currently working in the fintech sector with SYM(Save Your Money), a savings manager app as its flagship product.
The winners of the funding competition are:
Denovo Biolabs: It provides end-to-end cost effective pharmacovigilance solutions to pharmaceutical, biotechnology and medical device companies across the globe.
Doctors’ Circle: It is an online video platform that provides doctors’ advice to users via videos.
Fourth Ambit: It is a social networking site to connect with old classmates from user’s alma maters.