BuildOnIndiaStack: Venture pitch competition launched for early-stage startups

BuildOnIndiaStack is open to all innovations that leverage the India Stack to unlock new business models and reach previously under-served, new customer segments across diverse sectors such as financial services, education, healthcare and others

Must Read

How to choose an effective DDoS mitigation plan

There are several flavours from which to choose when selecting an effective DDoS mitigation strategy. Most enterprises opt for one of the cloud protection flavours (always-on or on-demand)

How tech bolster security of online gaming platforms

The rise of online gaming and is evident throughout the world’s financial capitals with the UK, US, and a few other European nations at the forefront

Explained: The evolving nature of cybersecurity threats

Concerns such as hacking and the presence of computer viruses have existed for decades in one form or another. As technology evolved over the years, so did the cybersecurity  threats themselves.

Dalberg and in collaboration with Bharat Innovations Fund, and launched BuildOnIndiaStack – a venture pitch competition for early-stage startups, building on top of the India Stack, a set of open APIs released by the Government of India. The competition is open to all innovations that leverage the India Stack to unlock new business models and/or reach previously under-served, new customer segments across diverse sectors such as financial services, education, healthcare and others.

Some core focus areas for the BuildOnIndiaStack competition will also include digital lending and supporting activities, such as alternative credit scoring; sector specific digital services such as health insurance or education loans, skilling and certification, property registration agreements, patient-centric healthcare management; and SaaS platforms “as a service” that support the development of other India Stack based innovations such as Digi-locker or e-sign providers.

The startups that qualify will be in teams of minimum two to maximum four members, including the founder. They will also have to be early stage startups that have received only seed or limited angel funding. Further, they need to meet the three point criteria of being tech-enabled, leveraging India Stack platform and serving the underserved, said a statement.

Under BuildOnIndiaStack competition, shortlisted ventures will pitch to some of the leading investors and thinkers in the Indian start-up ecosystem, including the Bharat Innovations Fund, Omidyar Network and . The investor group will provide strategic business support to their investees. The network of investors will also provide mentoring through their specialists and experts. The ventures also stand to interact with select India Stack network of investors and operators, entrepreneurs and technologists, designers and engineers, academicians and policy makers, with the singular mission to solve some of India’s toughest problems.

The group of investors is looking forward to solutions that go beyond the confines on conventional and are path-breaking. Roopa Kudva, who is a Partner and India MD for said, “The time and cost benefits associated with the India Stack can enable a new wave of entrepreneurs to reach out to previously excluded sections of society in a wide range of sectors including financial services, education and healthcare. We therefore want to support businesses that use the Stack to empower individuals in a secure, cost-effective and privacy-enhancing manner.”

United Seed Fund’s Partner, Srikrishna Ramamoorthy said, “For more than a decade now, the Unitus group has pioneered financial inclusion in India and globally through its work in microfinance investing. At Unitus Seed Fund, we’re continuing to build on this strong legacy – we’re looking to invest one-third of our current fund in startups that can disrupt the way financial services is delivered to and accessed by the masses.”

Deadline to submit an online application for BuildOnIndiaStack is August 14th, 2017.

Subscribe to receive the day's headlines from Tech Observer straight in your inbox

Leave a Reply

*The moderation of comments is automated and not cleared manually by techobserver.in. Embedding of any link and use of abusive or unparliamentary language are prohibited.
- Advertisement -

Latest in TECH

Sapience Analytics signs distribution agreement with Redington

Sapience Analytics and Redington said that they have entered into a distribution agreement where latter will resell the Sapience Vue solution through its network of over 30,000 channel partners, system integrators, and value-added resellers countrywide.
- Advertisement -SAP Hana

Related Articles