Eight start-ups have raised more than 70 7 million in first-round funding under the UPES incubation program ‘Runway’
In December last year, UPES, a multidisciplinary university in Dehradun, launched an ambitious incubation program called ‘Runway’, which helps transform their scalable business to work with start-ups inside and outside the university. Finishing off a quarter, Runway began its first pre-incubation cohort at a two-day event hosted by UPES with 82 start-up ideas selected from more than 400 applications.
In the first round of pitching, eight of the 82 selected start-ups raised over IN 7 million from a group of investors including India Network CEO Rahul Narvekar, UPES Pro VC Dr Ram Sharma, Mudit Verma, UPES alumni and Gagan Ghai. Angel Investor – Director Crest Innovation, UPES and the first instance in Uttarakhand where funds were raised on the spot.
There were eight fundraising start-ups:
- Alteridium, Founded by Akhil Damodaran and co-founded by Dr. Rupesh Kumar, is one of the first blockchain-based smart contract companies in India. It will develop smart contract products that can be used in education, healthcare, supplies, etc.
- DAACAn automotive design studio founded by Siddhartha Prakash and co-founder of Kishore Tikle, Siddharth Da, Nithin Sharma
- W&W organic, Founded by Akansha Simra and co-founded by Pratiksha with the concept of organic soap bars in paper packaging.
- AAGYOA combined solution of Hyperlocal Marketplace and e-commerce aimed specifically at Tier 3 and lower cities and towns, founded by Mukul Mehta
- VindhyabasiniA period cramp relief belt established by Nuveni Raina
- Buzzinga Chicken Chips Founded by Dia Goel and co-founder of Akul Goel, FMCG is a non-vegetarian product that solves the problem of unhealthy snacks.
- Anime godFounded by Dev Taneja and co-founded by Himanshu Goswami, the goal is to provide great, unique anime and graphic products at the most affordable prices.
- Rhodes Founded by Achal Agrawal, an idea aimed at route optimization based on road quality and precision potholes.
The selected start-up founders had the opportunity to interact with entrepreneurs like Naveen Rawat and Manish Ahuja of Holisol Logistics; Sarika Panchi, Founder-Jibisa Wellness; Richa Bhansal, Founder-Sarathi, Mudit Verma, CEO-Rematch Technologies; Taranjit Singh, Founder-Invokon; Pension Box founder Kuldeep Parashar and The India Network CEO Rahul Narvekar.
Selected 82 Runway Start-up Ideas will now go through an eight-week, carefully curated program where they will learn how to build a business, how to incorporate companies and how to interact with experienced entrepreneurs, CAs and investors. Is to create. Start-up consultant. At the end of the pre-incubation program, start-ups will have the opportunity to raise funds and formally pitch and raise funds for incubation or a group of investors on the runway.
The ‘Runway’ is established under the UPES Council for Innovation and Entrepreneurship (UCIE), which is recognized by the Government of Uttarakhand as a business incubator and a state nodal agency to encourage entrepreneurship and help start-ups in the state. Runway aims to help these start-ups refine their concepts through a process involving incubation, mentoring, pitching, nurturing and networking.