8 Startups have made it to the final leg of CIIE’s first-ever Gujarat-focused accelerator:
Eclat offers a user-friendly, remote access solution for libraries with digital resources through its subscription-based SAAS offering called RemoteXs. eCourseWiz is a cloud-based Learning Management System with e-Learning features that caters to
IT and Financial Service Industry. IndiaBizForSale is an online discovery platform connecting small business owners looking to sell their businesses with buyers across India. iServe is a customer service technology company which aims to deliver a delightful post-purchase experience for customers who have made a big-ticket purchase by connecting them with companies and service providers on a single platform. KiviHealth is a healthcare technology startup that is trying to solve the problem of lack of consolidated health information across different stakeholders, collecting health information from source and displaying it in a user-friendly format for both doctors and patients. Maruti 3PL is an online marketplace for inter-city trucks. Original Dimension is a Virtual Reality startup that caters to real-estate developers through a service-based offering, as well as serves as an online publishing platform for VR content. Social Pilot is a SaaS offering that allows users to create strategic schedules for content postings and social media campaigns on well-known platforms such as Facebook, LinkedIn, Twitter, VK.com & Xing.
These startups have come a long way. The Gujarat Accelerator started with 20 startups, selected from an initial pool of 250 applicants with representation from sectors such as hardware, IoT, SaaS, analytics, logistics, ecommerce, social media, ed-tech and healthcare. The first phase of Gujarat Accelerator was a two-week module that focused on Design Thinking methodology. During this period the CIIE team worked closely with 20 selected startups to develop a clearer understanding of their customer needs, to create a stronger problem statement and to develop deeper insights about their businesses. Teams developed both a micro and a macro-level perspective of entrepreneurship as seen through the lens of Design Thinking methodology and Disruptive Innovations respectively. The 20 teams presented their businesses to a pre-eminent panel consisting of Dilipkumar Khandelwal, Managing Director of SAP Labs India, Srikrishna Ramamoorthy, Partner at Unitus Seed Fund and Design Thinker Dr. Ashis Parmar. Only 8 startups made it to the second and final phase of the Gujarat Accelerator, which culminates in Demo Day, scheduled for November 28, 2015, post which at least two startups will receive a minimum investment of INR 20 lacs each.
The 8 finalists represent a range of tech-sectors with diverse needs and requirements. For us at CIIE, the intention was to offer our startups a sharper lens through which to review their offerings, ensuring better product-market fit and, ultimately, traction. So far the journey has been encouraging. The first week of the accelerator the startups worked on a minimum viable business canvas lead by Vishwanath Sahasranamam of Coimbatore’s Forge Accelerator. The second week was focused entirely on product development with game-changing sessions by industry veterans Rana Chakrabarti of SAP India and Nagarjun Kandukuru of ThoughtWorks, both flying in from Bangalore for our cohort. The third and fourth weeks have been focussed on unit economics and financial modelling led by our very own Amber and Vibhor from the INFUSE team. In the course of the accelerator we have had star speakers such as Navneet Singh (CEO of PepperTap) and Manish Vij (CEO of former letsbuy.com) on campus to inspire the cohort. So far we have clocked 75+ hours worth of interaction with the cohort, and counting. We have seen some of our startups struggle as they validate their market, evolving and even pivoting at times as new insights are brought to the table. We have also seen their confidence increase as they go through the grind. Our mentor-angels have been invaluable in the journey, offering guidance at every step. We are hopeful that come November 28, our cohort will be ready to scale-up.
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