Commerce and Industry Minister Nirmala Sitharaman recently launched cab aggregator Uber's challenge -- UberPITCH -- in a bid to reach out to the budding entrepreneurs of tier-II cities. The challenge was launched under the Uber Exchange programme for 28 cities across India, with a focus on tier-II cities.
Shortlisted entrepreneurs will get to pitch their business ideas to investors and venture capitalists during a specially organised Uber ride. With just the push of a button on Uber's app, startups would get a chance of getting advice from top investors in the ecosystem.
UberPITCH finalists will feature among the top 10 startups that will be flown to Silicon Valley to meet the leadership team at Uber as well as exchange notes with big ticket investors. Speaking at the occasion, Sitharaman said the government is committed to extending support to startups.
UberPITCH is a collaborative project that encourages innovation within local startup communities to provide entrepreneurs with the resources they need to accelerate the growth of their ventures. Spread across 21 countries, the user will be given 15 minutes to pitch and get feedback on the idea with the VC. The Uber app opens up between 12 and 4, and if your request is connected, a car will arrive with a VC.
Shortlisted entrepreneurs will get to pitch business ideas to investors and venture capitalists during a specially organised Uber ride. Selected entrepreneurs will get seven minutes to pitch ideas and another seven minutes of feedback.
We are highly supportive of public-private initiatives that strengthen the startup space with mentor-led knowledge sharing and enable entrepreneurs to realise potential, said the commerce minister.