Mumbai (Maharashtra) [India], May 23 (ANI/PNN): IIM Calcutta Alumni Association (IIMCAA), along with IIM Calcutta Innovation Park, has announced Clarion Call 5.0 - a platform where young entrepreneurs and startup founders can find the best fundraising and mentoring options to make their dreams come true.
The platform commits an investment corpus of a whopping USD 8.5 mn (Rs 65cr).
Aspiring startups can pitch their novel business ideas to 5000 Angels and 7 Institutional investors who have committed a corpus of USD 8.5 mn (Rs 65 Crore). The final winners will have the opportunity to procure funding at an early stage and will be given the required guidance to kick-start their own companies.
Enclosed are the timelines of the event Announcement of Shortlisted Startup - 25th May 2022 Pitches to Jury - 01 June 2022 Announcement of Finalists - 03 June 2022 Boot Camp - 04-07 June 2022 Finalist Fund Raise Pitches to Investor - 16 June 2022 Final Event and Announcement of Winner - 18 June 2022The top 20 finalists will get a chance to be associated with various partners, which include- IIM Calcutta Innovation Park, BSE Incubator ZONE Startup, and others. Finalists not only get tied with prospective investors but at the same time, they will get exposed to industry experts and IIMCAA mentors. IIM alumni from across the world are invited to the program to assist the finalists and provide contestants with their prior expertise.
About the upcoming event, Subrat Pani, Co-Founder of OneAssistMember IIMCAA-MUMBAILead Organizer for Clarion Call 5.0, said, "With Clarion Call 5.0, we aim to keep the alumni of IIMC connected and explore the innovative business ideas worked upon in our country. Our motive is to contribute to the ecosystem by providing support and acceleration for these ideas to flourish so that they get ready for the challenges that the market has to offer. This year will mark the 5th edition of Clarion Call, and we are happy to look forward to many promising startups getting their well-deserved start."The event's notable jury members will be Ashish Chauhan MD, BSE, and Srikant Sastry, Chairman of IIMC Innovation Park. Shiva Shanker - Vice President - Ankur Capital Fund, Chandran Krishna - CEO - The Chennai Angels (TCA) and Nandini Manisinghka - Co-FounderCEO at Mumbai Angels.
Last year through Clarion, six startups got funded, and this year the expectance is to go up significantly between 10-15. SaaS, Deeptech, and Ecometc are the major sectors expected to make entries. The average ticket size per startup is expected to be around 50 Lakhs.
The IIM Calcutta Alumni Association is a close-knit community across batches over the years. IIM Calcutta Alumni Association Mumbai (IIMCAA Mumbai) has been at the forefront of bringing the power of the IIM Calcutta Alumni network together to impact the startup ecosystem in India via the Clarion Call event. United by their campus allegiance and having tasted various degrees of success, the Alumni network has been putting together Clarion Call over the years as their way of 'Paying It Forward' to help startupsfurther their efforts in navigating this complicated landscape.
Clarion Call was conceptualized in 2016 with a vision to identify and support promising startups with the help of the alumni network. This 5th edition (4 previous editions have been successfully held in 2016/17/19/21) has just been launched.
IIMCAA-M is a not-for-profit organization conducting this event with the vision to create a platform and a program to give promising and deserving startups access to funding, incubation, and mentoring apart from visibility, prizes, and credits.
Formed in 2009, the IIMC Alumni Association Mumbai is registered as a Trust under the Office of the Charity Commissioner, Mumbai. All alumni in Western India, including Mumbai, Pune, Ahmedabad, etc., can become a member of the Association, which is run by a team of Trustees and a Managing Committee, performing their tasks on an honorary basis.
The Association conducts three annual events under its banner: Nostalgia, Clarion Call and Guru Speak. In addition, the association may hold other events during the year if and when suitable. The ManCom constitutes a working committee for each annual event, with a Head of the team. All such heads and team members are volunteers, and their work is entirely honorary.
This story is provided by PNN. ANI will not be responsible in any way for the content of this article. (ANI/PNN)