This article is presented by Network18.
It’s a cliché but one that is relevant. There never has been a better time to be an entrepreneur in India. A favourable climate driven by government initiatives such as Startup India and Make in India India, digital infrastructure and technology that actually propels fantastic dreams into reality, and investors who are willing to put their money into hitherto.
Pulse The Venture, is a first-of-its-kind endeavour to discover India’s next big entrepreneurial idea. A collaboration between the DS Group, the conglomerate behind the iconic Pulse Candy, and media group Network 18, the venture is a televised reality competition where entrepreneurs will use their ideas to battle it out, and win the grand prize, a chance to win seed funding of Rs 1 crore.
Focus on profitability rather than just valuation
India is fast becoming a global startup hub. In fact, estimates say that the number of startups in the country, which was 3100 in 2014, will likely quadruple to 11,000 plus by 2020.
The fiercely competitive scenario means that only ideas which truly stand out can get ahead of the pack. In fact, the feverish pitch of the last few years has now given way to a more focussed approach.
“The last two years have been the start of a cleansing process, and there is a certain degree of introspection. People are moving away from thinking about valuation to thinking about the business model. Unit economics, profitability and differentiation,” says Shereen Bhan is Managing Editor of CNBC-TV18.
Pulse The Venture seeks to nurture such ideas which are all about differentiation and disruption. The televised reality competition will provide a platform to anyone with a viable business proposition to come on board, compete with other bright ideas, pitch to investors and get a chance to win seed funding to the tune of Rs 1 crore.
“The uniqueness of the show is that it focuses on ideas that have not become entrepreneurial yet. We will invest in ideas and innovations that can be converted into businesses that can attain profitability, and can operate on a long term sustainable model,” says Ritesh Kumar, Promoter, DS Group.
He adds, “As a group we would like to add value in mentoring the entrepreneur and not just be present as an investor.”
Ideas that have a zing
“Pulse embodies the DS Group’s ethos of innovation and customer delight and has disrupted the candy category. It is a unique concept which became a game-changer in its category. We are looking for similar features in startups as part of Pulse The Venture,” says Shashank Surana, VP, New Product Development, DS Group.
According to Mr. Ritesh Kumar, some of the key factors that they would consider during selection are:
- The novelty and uniqueness of the idea
- The entrepreneur’s vision
- The startup’s go-to-market strategy
- The market opportunity and scalability
- Financial understanding
- Growth prospects
Who can apply
Anybody with a viable business idea is welcome to apply. The key requirements are as follows:
- Idea / Business Plan should not have generated any revenue
- The idea must be viable
- There has to be clarity on the roadmap from idea to implementation
- The entrepreneur(s) must be passionate about the idea and committed to it
Today is the last day to register. So don’t delay.
How would it work
There is a multi-level selection process. As part of the first stage, the online applications will be rigorously screened by editorial team of TV18 along with eminent pre-jury panel who will shortlist the Top 100 ideas.
Following this, the candidates from this list will be interviewed via video, and 48 will go ahead on a zonal level. The pre-jury will select the top 6 candidates from each zone, and the 24 zonal finalists will be invited to Delhi to compete in the televised battle round of this unique reality show. The grand jury will then pick four national finalists, who will then go head-to-head for a live grand finale on CNN-News18 & CNBC-TV18. The winner will receive a grand prize of Rs 1 crore as seed fund.
Every entrepreneur dreams of the day when his / her startup will become India’s next unicorn. Pulse The Venture could very well be that opportunity which can take you a step closer to attaining that dream.
Do submit your business idea today and get a chance to get seed funding up to Rs 1 crore.