IMPunjab Bootcamp kickstarted: Startups awarded Rs 1Lac to nurture their business plans

Innovation Mission Punjab, a unique private-public partnership that aims to build, empower and act as a catalyst for local startup communities in Punjab, conducted its first Bootcamp at Kalkat Bhawan Mohali.  The Bootcamp was organised to enable the entrepreneurs in creating a solid business plan, communicate, and synergize to create opportunities for further growth.

IMPunjab Bootcamp is a rigorous two-day training for prototype/product stage startups to build their capacity and nudge them to start thinking about a startup's various functions which include costs, technology, revenues, partners, operations, supply chain, customer relations and numerous other basics of business. During the workshop, we had experts decode the business model canvas as well as mentors on dynamics of customer acquisition for entrepreneur.

A cohort of 20 startups participated in the workshop. The entrepreneurs gained a thorough understanding of the business model canvas, marketing strategy and customer-centricity approach for their startups. They also acquired knowledge on the basics of unit economics and how to pitch their business plans. At the end of the event, the Top 2 entrepreneurs won the pitch round Ayush from Rooms Vital and Rishov from Myra Healthcare were awarded total prize money of INR One Lakh.

The jury for the event comprised industry professionals and a mix of entrepreneurs and startup enablers from the region Mr Somveer Anand CEO & Mission Director, Mr. Abhishekh Purohit, Head of Accelerator, Mr. Amrit Tiwari AVP Investments IIM-L Enterprise Incubation Centre, Mr. Shashi Gupta, Strategy and Innovation, Consultant, Mr Tushar Mittal from MySoho and Mr. Satyendra Singh from IISER among many others.

Concerning the initiative, Somveer Anand, CEO & Mission Director, IMPunjab said, “The entrepreneurs of the Punjab region come up with some of the most brilliant ideas, however, the challenge is to convert an idea into a business opportunity and eventually a startup. IMPunjab organized this Bootcamp to help entrepreneurs understand the several functions of a startup such as marketing, finance, sales, revenues, value proposition, partners and resources along with its practical use cases.”

The pitching session also helped the startups on how to approach the ecosystem and get investment ready.