Summary:

• Delhi University (DU) is organizing a Startup Conclave for the first time, where entrepreneurs will invest in students’ startups or ideas.
• The conclave will be held at Kanad Bhawan of DU on Friday and Saturday.
• Udhmodaya Foundation, a company established by DU, will invest Rs 1 crore if the startup is liked.
• The top 50 proposals will be presented directly to Venture Capitalists for potential investment.
• DU will provide Rs 1 crore each to Udhmodaya Foundation for the first three years, with Rs 40 lakh for administrative expenses and Rs 60 lakh for startups.

Details:

Delhi University (DU) is set to host its first-ever Startup Conclave, where students will have the opportunity to pitch their startup ideas to entrepreneurs for potential investment. The conclave will take place at Kanad Bhawan of DU on Friday and Saturday.

Udhmodaya Foundation, a company established by DU, will invest Rs 1 crore in startups that are liked by the venture capitalists. Dr. Abhishek Tandon, CEO of Udhmodaya Foundation, explained that the conclave follows a similar format to the popular TV show Shark Tank. The top 50 proposals have been selected and will be presented directly to Venture Capitalists for consideration.

Dr. Abhishek Tandon also disclosed that as per a proposal passed in the Executive Council (EC) of DU, the university will provide Rs 1 crore each to Udhmodaya Foundation for the first three years. Out of this fund, Rs 40 lakh can be utilized for administrative expenses, while Rs 60 lakh will be invested in startups.

The objective of Udhmodaya Foundation is to promote startups and skill development in the country. The foundation has been formed under Section 8.

Rewards for Innovative Ideas:

Among the 50 proposals presented to the Venture Capitalists, several categories of rewards have been announced. The most innovative idea will receive up to Rs 10 lakh, the best idea for social impact will receive up to Rs 5 lakh, the best woman-led innovative idea will receive up to Rs 2 lakh, and the best startup accelerator idea will receive up to Rs 2 lakh. Additionally, seed funding will be provided to 25 startups.

The conclave will feature presentations on the first day and negotiations on the second day. Around 15 to 20 mentors will be present to provide guidance and investment opportunities. Not only students from DU, but also applicants from other prestigious institutes such as IIT and NIT have submitted their proposals.

The Startup Conclave organized by Delhi University aims to foster innovation, entrepreneurship, and skill development among students. It provides a platform for aspiring entrepreneurs to showcase their ideas and receive potential investment.