Delhi University (DU) is taking a significant step towards nurturing student entrepreneurship by hosting its inaugural Startup Conclave. This event promises to be a game-changer, where students will have the golden opportunity to pitch their innovative startup ideas to established entrepreneurs, potentially securing vital investment. The event is set to take place at the prestigious Kanad Bhawan of DU on a thrilling Friday and Saturday.
This groundbreaking initiative is made possible through the support of the Udhmodaya Foundation, a company established by DU itself. The foundation is committed to investing Rs 1 crore in startups that manage to impress venture capitalists. It’s akin to the thrilling format of the hit TV show “Shark Tank.” Among the 50 proposals selected, the top-tier ones will have a direct audience with Venture Capitalists, unlocking the door to potential investments.
In a remarkable move, DU has vowed to allocate Rs 1 crore annually to the Udhmodaya Foundation for the first three years. This financial support includes Rs 40 lakh for administrative expenses and Rs 60 lakh earmarked exclusively for startups. This commitment signifies DU’s unwavering dedication to foster entrepreneurial spirit and innovation among its students.
Udhmodaya Foundation’s primary objective is to promote startups and skill development in the country. It operates under Section 8, illustrating its mission-driven commitment to driving positive change in the startup ecosystem.
Rewards for Innovation: The Startup Conclave promises exciting incentives for innovative ideas. The standout idea will be awarded up to Rs 10 lakh, the most socially impactful idea stands to gain up to Rs 5 lakh, the best woman-led innovative idea can secure up to Rs 2 lakh, and the most promising startup accelerator idea may earn up to Rs 2 lakh. Moreover, seed funding opportunities are in the offing for 25 promising startups.
The two-day conclave is set to be a dynamic event, featuring presentations on the first day and in-depth negotiations on the second. A diverse group of 15 to 20 mentors will be present, offering their guidance and potential investment opportunities. What’s even more exciting is that this event isn’t limited to DU students; it has attracted applicants from other prestigious institutes, including IIT and NIT.
In essence, the Startup Conclave organized by Delhi University is a catalyst for innovation, entrepreneurship, and skill development among students. It offers a much-needed platform for aspiring entrepreneurs to present their groundbreaking ideas and, most importantly, secure the financial backing required to turn their dreams into reality.
