IIT-Madras gears up to host the seventh edition of its renowned pan-India pitching event, Elevate, scheduled from March 8 to 10. Elevate provides a platform for nascent startups to showcase their products, pitch for funding, and network with industry peers and potential investors.
Theme and Festivals
Under the theme “Soaring Through Shifts,” Elevate will feature several entrepreneurship festivals, including the Youth Conclave, Innovator’s Conclave, Startup Conclave, and Startup Essentials.
Host: E-Cell of IIT-Madras
Elevate is organized by the E-Cell of IIT-Madras, one of India’s largest student-run entrepreneurial bodies, which has nurtured over 500 startups since its establishment in 1998. The event spans across more than 25 cities, showcasing its wide-reaching impact.
Event Structure and Rounds
Elevate comprises three curated rounds: the online round, the zonal round, and the finale. Industry experts review applications, and selected startups progress to present their pitches to a panel of judges. The finale, held from March 8 to 10, culminates with finalists pitching to venture capital firms at the E-Summit on the IIT Madras campus.
Prizes and Incentives
Winning startups stand to receive a cash prize of INR 3 lakh, access to an investment pool of INR 30 crore for fundraising, and credits worth $5,000 (INR 4 lakh) from AWS, amplifying their growth prospects.
Highlights of Elevate Event
The three-day event anticipates an impressive turnout, with 18,000 attendees, including 1,000 startups, 50+ speakers, 30+ investors, and 60+ mentors. Distinguished personalities from various industries, including technology, media, and entrepreneurship, are expected to grace the event.
Conclaves and Programmes
Elevate features specialized programmes catering to startups and founders at different developmental stages:
- Youth Conclave: Focused on nurturing budding entrepreneurs through competitions and networking opportunities.
- Startup Conclave: Aim to accelerate startup growth by providing a platform for networking, insights, and funding opportunities.
- Innovators Conclave: Seeks to enrich participants’ thought processes by exposing them to diverse disciplines and fostering solutions to engineering challenges and market opportunities.
Impact of Elevate
Past success stories, such as Anvayaa Kin Care, Hesa Technologies, and GRIDsentry, exemplify Elevate’s transformative impact. These startups have expanded their reach, achieved significant revenue milestones, and demonstrated Elevate’s role in catalyzing growth and guiding emerging ventures toward success.
IIT-Madras: A Hub of Innovation
IIT-Madras continues to drive innovation by fostering the growth of the Indian startup ecosystem. With a target to incubate 100 startups in 2024, the institute aims to focus on sectors such as sustainability, green energy, quantum, and mobility. Its commitment to innovation is reflected in its patent filings and the valuation of deep tech startups incubated by the institute.
Significance of Student-led Entrepreneurship
Student-led entrepreneurship harnesses the creativity and resourcefulness of young minds, fostering innovation and unique problem-solving approaches. By encouraging students to pursue entrepreneurship, IIT-Madras empowers them to take bold risks, bring fresh perspectives, and contribute to the growth of India’s entrepreneurial landscape.