Early stage Investor, India Quotient, has announced the 5 startups as the winners of MobileIQ, a competition for early stage mobile startups.
The competition was organized in IIT-M campus and the winner will stand a chance to get funding of INR 50 Lakh. Besides, top 5 teams will get media coverage, mentorship by top industry experts and a startup kit containing essential resources to build mobile startups.
According to Anand Lunia, at-least one deal will close soon and as the products mature, it plans to invest in more than one of the selected startups.
Here is a shortlist of 5 startups that India Quotient intend to evaluate and invest in.
Taskbob creates happy households by providing everyday repairs, temp cooks or drivers etc.
WhichApp is a mobile app that helps users discover new apps that their friends use. Think of twitter for app discovery
Reach lets you shares files with your friends. This works very beautifully for music, and helps friends in closed groups to discover and share without uploading or downloading except when they need it.
The Zero Games allows brands to insert non-intrusive ads as a part of the gaming experience. So now gamers will see pepsi billboards on the buildings in the background of their games.
PinChat, perhaps the boldest idea of all, allows you to discover and chat with people who are at the same location as you are. Think of finding out who your neighbors are, and which one of those wants to play tennis this sunday.
“We also believe that in a few months, many others will cross some milestones and become very attractive. Fitho, Mobhe, Shippr, Instano, Viraltrics, RentSetGo, PocketAd are in that list,” added Anand Lunia.
The event saw participation from leading funds like Sequoia, Matrix, Omidyar and others & they will be in touch with the startups they liked.
Here is what the participated startups has to say about the MobileIQ
“Overall a great experience to meet the best early stage mobile startup entrepreneurs looking to disrupt large spaces. Some very insightful talk from IQ portfolio founders and speakers.” said Kapil from WhichApp.
“Attending #MobileIQ was doing Startup101 on steroids. In 48 hours I met more StudMax people than whole of last six months. Practical, implementable, Zero gyaan inputs” said Nishith from PinChat.
“It was a great experience. I have attended many events/competitions but mobile IQ was different. The one to one interactions helped us identify the pros and cons of our idea. Also, IQ guys were so passionate about each and every idea and the frank discussions help us deeply understand the various angles of our business. Networking was awesome. Food was awesome.” said Akshay from Reach.
“It was a great event – giving us the necessary exposure and learning opportunity. Not only was it wonderful interacting and sharing ideas with investors, but it was also nice learning a whole new set of things, products from other startups around” said Aseem from Taskbob.
“MobileIQ has provided us and other startups with much needed opportunity and guidance. I can’t imagine any startup that wouldn’t benefit tremendously from IQ’s support. Some have come in with an idea and left with a business, others have come in with businesses and went out with a sense of purpose and direction and we have left with a lifetime experience.” said Nishanth from TheZeroGames.