Wharton India Economic Forum, India’s largest student-run biz conference, showcases startups in …

The panel included names like Padmaja Ruparel of India Angel Network, Prayank Swaroop of Accel Partners, Rajinder Balaraman of Matrix Partners, …

The Wharton India Startup Challenge received 500+ applications, of which top 10 finalists were chosen. The three winners earned a cash prize of $20,000 and other rewards from AWS, DigitalOcean, ThinQbate, and LetsVenture.

The 23rd edition of the Wharton India Economic Forum (WIEF) was held in Mumbai last week. WIEF is the largest student-run, India-centric business conference hosted by the Wharton School at the University of Pennsylvania. It brings together entrepreneurs, leaders, professionals, academics, and students from across the world to discuss India’s growing presence in the global economy. The event was attended by more than 400 people.

WIEF 2019 was led and co-chaired by Wharton School students Juhi Bhatnagar, Kartik Das, Swati Ganeti, Khushboo Goel and Sonal Panda.

One of the top attractions at WIEF is the Wharton India Startup Challenge (WISC), which is in its sixth year now. In the past, now-successful startups like BabyChakra, Zostel, Haptik, Zoomcar, Bizongo, and Ketto have presented at the WISC. The Startup Challenge has grown 20X since it began. Past winners of the challenge have gone on to raise over $50 million from more than 20 institutional investors.

startup challenge

WISC zeroed in on 10 startups from a pool of more than 500 applications. These 10 finalists were given the opportunity to pitch in front of an investor panel at WIEF. The panel included names like Padmaja Ruparel of India Angel Network, Prayank Swaroop of Accel Partners, Rajinder Balaraman of Matrix Partners, Sakshi Chopra of Sequoia Capital and Badri Pillapakkam of Omidyar Network.

This year, the 10 finalists included GoComet, Nuo, Lifepage, CashPositive, AgroWave, Reculta, MyPetrolPump, Wink & Nod, Credenc, and ItiLite.

The startup pitches were evaluated on the basis of four parameters: strength of the founding team, product market fit, financials, and WIEF mission alignment on impact.

The winning startups were:

  1. 1st Prize: MyPetrolPump (on-demand fuel delivery service)
  2. 2rd Prize: ITILITE (a business travel agent for corporates)
  3. 3nd Prize: Credenc (edtech platform offering student loans)

Ashish Gupta, Co-founder & CEO, MyPetrolPump, said: “Participating and Winning WISC is another milestone in our long journey. WISC ‘19 has provided us with huge visibility across the startup ecosystem in India and abroad. We are looking to raise pre-series A investment to the tune of $2 million to scale up further.”

(Second from left) Ashish Gupta, Co-founder, MyPetrolPump at WIEF 2019

Mayank Kukreja, Founder, ITILITE, said: “At ITILITE, we have built a smart platform for the modern corporate traveller and WISC was a great opportunity to showcase it to a large audience. Winning the startup challenge is yet another validation that our product is the much needed technology boost to this sector stuck in old school processes. We are strengthening our presence in the top 10 cities to serve the large void in the corporate travel industry.”

Mayank Kukreja, Founder, ITILITE

Avinash Kumar, Co-founder, Credenc, said: “The WISC journey through the different stages helped us improve our pitch and see ourselves more objectively. To be one of the winners for this year is a great feeling, and beyond the cash prize, it gives us further validation and steam to keep pushing the boundaries. Our ambition is to open up a very large lending segment which is currently ignored, enabling students across India to pursue education and careers of their choice by removing the financial barrier.”

Avinash Kumar & Mayank Batheja, Co-founders, Credenc

Wharton India also roped in several partners to aid the winning startups.

The top three earned cash prizes of $10,000, $6,000 and $4,000, respectively. They also got $10,000 in Amazon Web Services and DigitalOcean credits. Additionally, the three winners received prizes from ThinQbate(a Mumbai-based startup accelerator) and LetsVenture (a platform for angel investing).

Juhi Bhatnagar, Co-Chair of WIEF, said: This has been a record-breaking year with unprecedented attendance and more than 500 quality startup applications. The top three had incredible pitches and energy, and we are so excited for what they plan to build. We are certain that the winners are going to benefit greatly from the value addition in terms of the network, validation as well as reach that winning WISC will provide.Some pitchers have already started getting inbound interest from investors.”

Kartik Das, Co-Chair of WIEF, said: “This year WISC witnessed a diverse range of startups and the organising team worked hard to collaborate with the nation’s top VCs to narrow down the list of applications to the top 10 finalists. In addition, we have also launched the WISEMENTORS initiative for startup mentorship, and an inspiring podcasts series capturing insights from leading business professionals.”

VCs gathered at WISC weighed in as well.

Commenting on the evolution of India’s overall startup landscape, India Angel Network’s Padmaja said, 

“When we started out as investors, we only saw services being offered. There were no product startups. That was where we were. That has changed now.”

Rajinder of Matrix Partners concurred. He said, “India has always had outstanding entrepreneurs. Finally, we have a market that is right.” Prayank of Accel Partners added, “The big change is the speed at which startups are beginning to scale now. I hope the perception will change, and there will be a global deep tech company out of India.”


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More investments will make TN India’s innovation hub, knowledge capital : OPS

development, financial technology, would help in achieving late leader. J Jayalalithaa’s goal of making Tamil Nadu, India’s innovation hub and

Chennai, Nov 10 (UNI) Deputy Chief Minister O Panneerselvam on Saturday

said more investments in value added service industries, research and

development, financial technology, would help in achieving late leader

J Jayalalithaa’s goal of making Tamil Nadu, India’s innovation hub and

knowledge capital.

Speaking at the Opening Ceremony of the World Islamic Economic Forum

and United Economic Forum (WIEF-UEF) Chennai Roundtable 2018 here,

he said both the UEF and WIEF were working closely together on attracting

more investments to Tamil Nadu.

He said it was commendable, that they have set a target, of attracting,

one per cent of all Sovereign Wealth Fund Investments, into the State.

This would amount to USD 33 billion, he said, adding, such investments,

would immensely benefit the State and society, at large.

Observing that if any State was ready to receive ground investments

of such a large volume, it was Tamil Nadu, Mr Panneerselvam said the

State Government has already identified over 200 Infrastructure projects,

requiring investment of about USD 250 billion.

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AIFC seeks WIEF boost

This would be the second WIEF event to be held, here, after the first in July 2011. The 14th WIEF will focus primarily on Islamic finance and banking, as well as current economic issues such as digital economy and financial technology. Musa said interest in Islamic finance and banking from developed …

ASTANA: The upcoming 14th World Islamic Economic Forum (WIEF), here, will help promote Astana International Financial Centre (AIFC) as the regional hub for Islamic finance in the Commonwealth of Independent States (CIS) region.

Chairman of the WIEF Foundation chairman Tun Musa Hitam said Kazakhstan had shown keen interest to develop its own Islamic finance and banking sector.

He said the country Kazakhstan was now in a new phase of development, in which it was diversifying the economy from relying heavily on natural resources to become an internationally renowned financial services market.

“We have seen the developments in Kazakhstan. We are here at the invitation of the AIFC and its governor Kairat Kelimbetov.

“We have also been invited to be part of a bigger celebration in Kazakhstan in July.

“We are happy to collaborate with them (AIFC) to host the 14th WIEF in Astana.

“We were here many years ago. we had been here. As an organisation, we know Astana and they know us and they have been our strong supporters,” he Musa told NST Business.

Musa was here to sign the agreement between WIEF Foundation and AIFC to host the event on July 4.

Also present was the secretary general Tan Sri Ahmad Fuzi Abdul Razak.

This would be the second WIEF event to be held, here, after the first in July 2011.

The 14th WIEF will focus primarily on Islamic finance and banking, as well as current economic issues such as digital economy and financial technology.

Musa said interest in Islamic finance and banking from developed and developing countries worldwide had been on the rise.

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Meet The Winners Of The 5th Edition Of Wharton India Startup Challenge

The startup challenge jury included people like – Rehan Yar Khan (Managing Partner, Orios Venture Partners), Sandeep Murthy (Partner, Lightbox Ventures), Shivani Bhasin Sachdeva (MD & CEO, India Alternatives), Karan Mohla (Executive Director, IDG Ventures India), Preeti Sinha (Senior President …

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The 22nd Wharton India Economic Forum (WIEF) has announced the winner of the YES Bank – Wharton India Startup challenge, which concluded in Mumbai today. Out of the top 10 finalists, three startups made it to the final pitching round. Eduvanz Financing won the Judge’s Choice Award along with $12K; SpotDraft won the People’s Choice awardalong with $6K, while Saral Design won the Startup Exhibition Award and $2K prize money.

Mumbai based Eduvanz Financing, founded by Atul Sashittal and Varun Chopra, aims to make education universally accessible by providing easy, transparent and speedy financial assistance using innovative technology solution. Meanwhile, SpotDraft is an AI-driven end-to-end contract lifecycle management platform launched in January 2017 by Harvard Law School graduate Shashank Bijapur and Madhav Bhagat. SpotDraft’s technology is currently aimed at small businesses and freelancers to help them draft solid contracts, send automated invoices and payment reminders.

Saral Designs is a Mumbai-based startup working on increasing access to high quality affordable sanitary napkins using a smart distributed manufacturing technology developed in-house. Founded in 2015, Saral aims to create a better future in menstrual hygiene and sanitation-focussed product design, machine technology and innovative delivery mechanisms. The founders are Suhani Mohan and Kartik Mehta.

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Originally announced in August this year, the contest offers up-and-coming Indian startups a platform to interact and connect with investors and industry stalwarts from the Indian startup ecosystem. The other eight finalists were namely Anaxee, Ruban Bridge, SoundRex,Gamezop, Confirm Ticket, Perpule, and PlexusMD.

The startup challenge jury included people like – Rehan Yar Khan (Managing Partner, ‎Orios Venture Partners), Sandeep Murthy (Partner, Lightbox Ventures), Shivani Bhasin Sachdeva (MD & CEO, India Alternatives), Karan Mohla (Executive Director, IDG Ventures India), Preeti Sinha (Senior President and Global Convenor, YES INSTITUTE at YES Bank Limited), Vishal Khare (Director, Enterprise, Citrix India and Angel Investor).

Founded in 1996, the Wharton India Economic Forum (WIEF), is an annual conference hosted by the students of Wharton School at the University of Pennsylvania. It is a global business forum focussed on understanding and engaging with India’s startup landscape.

Hosted by the WIEF, the annual Wharton India Startup Challenge (WISC) is aimed at promoting entrepreneurship in the country. Last year, IoT-based startup Detect Technologies received the “WIEF-SBI Startup Of The Year” award along with $12K cash, while Kanpur-based social enterprise HELPUSGREEN was prized with “WIEF-SBI People’s Choice” award along with $6K cash.

The competition also featured a Startup Exhibit, which hosted the top 10 finalists as well as 10 additional high-calibre startups that have demonstrated tremendous potential. While the Judges’ Choice and People’s Choice winners also get five hours of legal service from NovoJuris, all other startup exhibitors of the Wharton India Startup Challenge will have also have access to WeWork India co-working space, fundraising services from LetsVenture, Baytree, and Mumbai Angels, mentorship from INNOVEN, and mentorship from Knowlarity and access to their Super Receptionist and Super conference product.