FiiRE Goa invited promising startups to be a part of Khoj ’22
The startup buzz has been louder than ever before all over the country with India proudly claiming 105+ unicorns as of July 2022. In Goa, too, having been amongst the earliest few states to have scripted and implemented its dedicated Start-up Policy, the startup spirit is at its highest.
One of the key growth avenues for startups is the opportunity to attract funding from venture capitalists and investors. With the blossoming of the startup ecosystem in the past few years, there are many more avenues now for start-ups to showcase their ideas, plans, and early wins and attract capital investments. This process is referred to commonly as pitching. A business pitch needs to give a potential investor a clear understanding of the plan or goals of the business to gain buy-in.
The Anatomy of a Pitch:
Gathering and sharing relevant research or provide a compelling vision makes the pitch effective.
To explain a company’s products, technologies, team and goals to investors, with less than 20 presentation slides, is an essential part of giving a business the chance to attract funding to accelerate growth.
Focus on Investors:
The purpose of the presentation is to engage a potential investor. A crystal clear pitch contains everything a potential investor would want to see –research related to the product, competition, marketing plans and company finances. Providing a complete view of the company as it currently exists and the potential value it holds for investors will help persuade their decision.
When delivering a pitch, these are the essentials that a startup founder needs to be cognisant of:
• Conduct and gather research
• Know the audience (the set of investors being addressed)
• Start with an elevator pitch
• Share successes
• Make a positive impression by staying calm and collected.
Role of Incubators:
While investors play a big role, in building the entrepreneurial ecosystem, incubation centers play an equally large role. Not only do they provide access to venture capitalists and investors but also nurture the ecosystem. Whether it is providing access to market, or refining the go-to-market strategy for the business, incubators can provide value to start-ups quicker and in an efficient manner. Some of the key areas where an incubator can add value include strategic insight and clarity, access to resources including low cost space, networking avenues, collaborations and partnerships and access to industry leaders and mentors.
Getting entrepreneurs pitch-ready and providing them to a large network for funding opportunities, is a key area where incubators provide tremendous value.
FiiRE Goa in partnership with Venture Catalysts – India’s First Integrated Incubator, with support partner Goa State Innovation Council and ecosystem partner BITS Goa Innovation; Incubation & Entrepreneurship society invited promising startups to be a part of KHOJ’22 in July 2022, at Don Bosco College Campus, Fatorda Goa.
Venture Catalysts is an investment group with 5000+ Angel Investors, having funded 450+ Start-ups, graced KHOJ’22, an ecosystem enabling event, at FiiRE Fatorda Goa.
The keynote address was delivered by Jose Manuel de Noronha, Chairman, Goa Public Service Commission & Goa State Innovation Council. This was followed by the pitch round where 8 startups pitched:
Milind Anvekar, President, Goa Technology Association; Monica Gupta, Venture Partner, Venture Catalysts; and Ebin E., GM, BITS BIONEST judged the pitches made by the 8 startups – Kanan Tandi of CogniCue, Ashish Asgekar of Svayu, Shalaka Teli of H2 Health Habits, Priyanka Tayi of KULA Studio, Akhilesh Bhise of Innovent, Akshay Kumar of Fitness Konnect, Ratnam Upadhya of StockLine and Narendra Navali of HorizonFX (P) Ltd.
Monica Gupta, Venture Partner, spoke about Venture Catalysts and the partnership at KHOJ’22. The three shortlisted startups at KHOJ’22 were: Kula, Cognicue and Svayu.