With a view to promote entrepreneurship in Jammu and Kashmir, industry body Assocham is organising an event 'Startup Elevator Pitch' here on Wednesday.
The event will be held at the University of Jammu on October 30 which will help create new startups in the region and enable them to grow quickly to become successful examples in their respective fields, the industry body said in a statement here.
Assocham Launchpad - Startup Elevator Pitch Series, an initiative and platform for budding entrepreneurs is being organised in 12 cities across India.
Under this initiative, Assocham is giving upcoming startups in tier II and III cities of India access to industry experts who can give them the guidance they need on business, product, marketing and also connect them with the right people that can help with funding process and proper guidance on how to setup business case for funding, the statement said.
Startups in Jammu could use the Assocham platform to network with high net worth individuals and generate business or funding opportunities for themselves," Assocham National Council on Startups chairman Anil Khaitan said.
He said through this event, aspiring entrepreneurs in Jammu would get to meet world-class mentors, investors and companies having decades of industry experience who would help give a better shape to their business idea and pitch for funding and technology partners to generate business opportunities.
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Assocham National Council on Startups Co-chair Tripti Somani said Assocham Elevator Pitch Series aims to support the very best entrepreneurial talent that Jammu region has to offer, by providing tailored acceleration services, funding opportunities and mentoring through an established network of partnerships.
The format of Elevator Pitch is such that the entrepreneurs and founders are given 300 seconds to explain the concept and idea of a service or product to set of jury members.
Early stage startups -- those between 0-2 years of operations and established startups between 35 years of operations are invited for participation in Jammu round. The top three winners would be invited for the grand finale in February 2020 in Delhi, the statement said.
Thirty-six finalists, three each to be selected from 12 cities, are expected to present their ideas at the grand finale in February 2020 in Delhi, of which the top three will be selected, the statement said adding there are prizes worth Rs 1.5 crore to be won.
While top five startups will get over Rs 3.53 lakh each from AWS (Amazon Web Services), next 15 startups will get over Rs 1.41 lakh and the next 80 will get over Rs 70,000 worth credits, it said.