Four promising startups secure INR 80 lakhs in seed funding to fuel their expansion

27 May, 2023 | Vaishali Sharma

73 Boston awarded 1st prize of Rs 15 lakhs by Sandeep Sinha Co Founder and Managing Partner Lumis Partners at the Masters Union Startup Challenge Business

6 student teams of Masters’ Union, the new-age business school in Gurugram, raised INR 80 lakhs and received commitments of varying amounts in seed funding after impressing VCs at the Startup Chall...

Gurugram-based business school, Masters’ Union, recently hosted its highly anticipated Startup Challenge, showcasing the entrepreneurial prowess of its master’s students. The event garnered immense attention from venture capitalists (VCs) and witnessed remarkable success, with six student teams raising an impressive INR 80 lakhs in seed funding and securing commitments from eager investors.

The student-run Investment Fund at Masters’ Union played a pivotal role in supporting promising startups, providing generous seed funding to the most outstanding participants. Three winners emerged from the competition, with 73 Boston claiming the first position and receiving a substantial grant of Rs. 15 lakhs. Buzzinga secured the second position, earning Rs. 10 lakhs, while Soul Gappa took home Rs. 5 lakhs as the third-place winner. Notably, Crispee and Buzzinga also secured on-the-spot seed funding of Rs. 25 lakhs each from The India Network, highlighting the exceptional potential of these startups.

The presence of renowned investors from prestigious firms, including Sequoia Capital, Huddle, Lumis Ventures, Nexus Ventures Partner, and Infoedge Ventures, among others, added immense value to the event. The venture capitalists actively engaged with the participants, displaying great interest in their ideas and challenging them with insightful questions during the short but rigorous Q&A sessions.

Pratham Mittal, the Founder of Masters’ Union, expressed his satisfaction with the event’s outcome and emphasized the importance of cultivating a forward-thinking mindset in business education. He stated, “The Startup Challenge at Masters’ Union demonstrated our commitment to preparing students for the challenges of the business world through hands-on experiences. Running a business is the best way to understand it.” Mittal commended the students for embracing innovation and showcasing a comprehensive understanding of entrepreneurship, asserting that these brilliant minds would undoubtedly make a significant impact on the business world.

The Startup Challenge featured eleven teams of young entrepreneurs, presenting a diverse range of startup ideas encompassing fintech, faith-tech, quick-service restaurants (QSR), fast-moving consumer goods (FMCG), and more. Each team had a brief three-minute window to pitch their ideas, followed by the rigorous Q&A session with venture capitalists. The questions focused on areas such as research, risk analysis, and future plans, providing valuable insights to the budding entrepreneurs.

The event fostered meaningful interactions between the participants and seasoned venture capitalists, creating an invaluable platform for the graduating cohort of postgraduate students to showcase their innovative ideas. Furthermore, the networking opportunities facilitated connections with industry experts and fellow entrepreneurs, inspiring a spirit of collaboration and knowledge exchange.

Masters’ Union’s Venture Initiation Programme Startup Challenge not only served as a catalyst for future innovations but also highlighted the institution’s commitment to providing exceptional opportunities for young entrepreneurs. With its cutting-edge education and mentorship programs, Masters’ Union aims to transform the entrepreneurial landscape and empower emerging talents to leave an indelible mark on the world of business.

The Startup Challenge was a resounding success, embodying the spirit of entrepreneurship and innovation that Masters’ Union instills in its students. As the institution continues to nurture and support aspiring entrepreneurs, it is evident that the business world can anticipate groundbreaking ideas and transformative ventures from the talented graduates of Masters’ Union.