Forty eight start-ups from south India have been pitched to leading investors for funds at TiECON’s Pitch Fest 2012. “We received over 200 applications from over 200 entrepreneurs from sectors including agriculture, e-commerce, energy, food, healthcare, infrastructure, IT, retail and transportation,” said Rajan Srikanth, chairman and managing director of SmartKapital, and chairman of PitchFest 2012.
Of the total applications, 65 applications have been shortlisted. Of these, 48 are from south India. The appetite for money from start-ups range between Rs 25 lakh and Rs 10 crore, he said, adding that of the 48 start-ups, 75-80 per cent were from Tamil Nadu and more companies from Tier-II and Tier-III towns were showing interest.
VT Bharadwaj, managing director of Sequoia Capital, said that the number of experienced people from the corporate sector had gone up. After an initial screening of the applications, the list was narrowed down to 48 companies, who were then invited to a mentoring clinic ‘Practice Pitch’.