- Rejig-HydStartups is a large-scale mentoring program for startups to rejig strategy to pivot towards customers and increased revenue post-COVID-19.
- A grand finale demo day, in the end, will facilitate investor connect, debt funding, and corporate market access.
- Major research incubators and organisations like TiE, T Hub and IKP are part of the collective.
- During these current times, startups have been struggling due to the economic slowdown caused by the COVID-19 pandemic, The Telangana State Innovation Cell (TSIC) along with some of the most prominent incubators and enablers in the city, is bringing in collective support for startups in the State.
This collaborative initiative to support the startup ecosystem, will work with startups from several incubators and outside. A program for strategy rejig followed by pitch preparation for equity funding, debt or corporate market access will be provided. The initiative Re-jig.HydStartups is powered by incubators like T-Hub, CIE-IIITH, IKP, RICH and TiE among others.
Deepanwita Chattopadhyay, Chairman & CEO of IKP said, “This collective initiative will help startups in securing funding to tide over the crunch period”.
Startups from various domains will be enabled through domain-specific mentoring and market access. The sectors targeted are— EdTech, FinTech, FMCG, Manufacturing, Agri/Food tech, Med/Life sciences and Emerging technologies.
All the shortlisted startups will be given 3 weeks of mentoring to review their strategy and re-fine it to address present business climate and constraints, specifically identify promising domains and target companies, and revise the positioning and pitch.
The program will culminate in a massive pitch day event, with over 100 screened startups pitching for equity funding, collateral-free debt funding, or corporate market access. Leading companies in the targeted domains will be invited to review the startups and consider pilots.
Rejig.HydStartups applications are open now and due on July 20th. The program will run for four weeks, concluding with the demo days to investors and corporates in mid-August.
Sri Jayesh Ranjan, Principal Secretary IT&C said, “Very heartening to see the community of research incubators in the city, anchored by the State Innovation Cell, coming together to rally around promising deep IP startups.”