Startup applications for LetsIgnite Mumbai closed on 19th November and we have already initiated the curation and pitching preparations for the shortlisted startups. The complete LetsIgnite startup curation process for pitching has been outlined below in the interest of transparency and awareness building. Our collaborative curation process has ensured that we have maintained a stellar record of funding completion for our past editions of LetsIgnite – 90% of all pitching startups close their round within 3 months after the event.
We encouraged every early stage startup looking to raise angel funding between $100K to $1.5Mn to apply for LetsIgnite 2018 – Mumbai Edition. Applications were open from 21st Oct’ 17 to 19th Nov’ 17 and we received 650+ applications during this period. 11 out of this pool will get to pitch at LetsIgnite – Mumbai on 13 December 2017.
Once submitted, the applications underwent 2 levels of curation.
Our startup curation team critically analysed and evaluated all the applications received. It took 15+ days of brainstorming with our mentors to shortlist the top 30% of the startup applications. This level was predominantly based on the key profile parameters such as team, traction and potential of the idea at the time of filling their application.
The shortlisted 30% startup applications were reviewed by 50+ Funds and 20+ Lead Investors, who LetsVenture works with regularly on various deals. After collecting multiple rounds of feedback from investors, each startup was given a normalised score. On the basis of these normalised scores, 11 startups with the top scores were selected to pitch at LetsIgnite Mumbai.
The rest of the startups who did not make it to the Mumbai edition undergo a very interesting journey of validation and refinement. As they make improvements and achieve further traction, we enable them to connect with potential Lead Investors who then can decide to work together. If this match-up is successful, the startups will be given an opportunity to pitch at LetsIgnite Delhi edition in February. As always, the unique model of the startup pitching on stage with their Lead Investor will be followed for the finale at Delhi.
Please note: Registrations for Delhi are now open.
We at LetsVenture are always on the lookout for interesting startups and committed founders to work with them on their funding journey on the platform. Our track record of 132 startups raising over USD 50Mn in the past 4 years speaks of our drive to enable as many founders as possible. So, go on and apply to get the best possible visibility for your startup.
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