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IIT Madras E-cell announces 7th edition of fundraising initiative - ELEVATE; Here's how you can apply

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Vivek Vishwakarma
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The Entrepreneurship Cell of the Indian Institute of Technology Madras has announced the launch of the 7th edition of ELEVATE, a distinguished pan-India fundraising event aimed at nurturing promising startups by connecting them with eminent mentors and investors across the country.

The event is focused on offering startups a platform to enhance their skills, secure funding, and tap into a plethora of market opportunities and resources to strengthen the entrepreneurial ecosystem in the country.

What is ELEVATE?

ELEVATE aims to foster a collaborative environment where early-stage entrepreneurs, mentors, and investors can exchange knowledge and explore investment opportunities. 

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Its mission focuses on supporting early-stage startups by facilitating valuable interactions within the entrepreneurial community, including entrepreneurs, mentors, angel investors, and venture capitalists.

Benefits of participating

Participating startups will get $5000 worth of AWS promotional credits, which will be valid for two years, a cash pool of over Rs 3 lakh, investment opportunities of up to Rs 30 crore, and subscriptions to various platforms like Canva, Notion, and Google Cloud provided by OkayStartup.

ELEVATE

The structure of the competition

The competition is structured in three rounds. The first round involves registration and submission of details about the startup, including MVP/Prototype and website link, with a deadline of 4th February.

In the second round, selected startups will pitch their ideas to a panel of experts, with a minimum of three teams from each zone advancing. The zones include Bangalore, Delhi, Mumbai, Chennai, and Hyderabad.

The finale will see finalists pitching at the E-Summit, IIT Madras, in front of venture capital investment teams, where winners will receive a cash prize worth Rs 3 lakh.

Registration details

The registration for the first round started on 10th January and will end on 4th February. The second round is scheduled for 9th-10th February, with the finale on 10th March. 

Past investment sponsors include notable names --- 100 Open Startups, Eximiusvc, Faad Network, Hyderabad Angels, Pravega Ventures, RPSG Capital Ventures, Startup Xseed, Titan Capital, YourNest, Water Bridge Ventures, SucSEED Ventures, and Speciale Invest.

Apply here - https://esummitiitm.org/events/elevate

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