We Founder Circle, a founder-driven angel network, will be backing annual virtual pitching event Concepto by IMT Ghaziabad as investing partner and facilitator, the company said in a statement.
Concepto aims to help aspiring entrepreneurs and startup founders in the initial stages of their business ventures by providing them with opportunities to pitch their ideas to investors.
We Founder Circle will give these startups direct entry to their accelerator programme EvolveX, where it would be offering $20,000 (approximately Rs 15 lakh) seed funding. The event will comprise three rounds, including an introductory presentation, pitch deck presentation, and final pitch to the investors, the statement said.
Notably, the shortlisted startups will get access to funding of up to $1 million (around Rs 7.5 crore), along with a chance to get incubated by quality mentors. This year, Concepto has received more than 400 entries for virtual pitching.
Concepto is expected to witness the participation of over 170 entrepreneurs who would be presenting ideas from various sectors such as healthcare, sports, food-tech, Artificial Intelligence (AI) and renewable energy. This year, the event has expanded beyond national boundaries to engage a wider investors’ network, the statement said.
“WFC is partnering with universities, B-schools and institutional entrepreneurship cells to support students with the knowledge, mentors, and investors from our community. We want to give them direct access to our accelerator programmes, and an equal opportunity to pursue their dreams,” said Bhawna Bhatnagar, Co-Founder, We Founder Circle.
Founded in 2020, Mumbai-based We Founder Circle is a global community of founders and angels that help early-stage startups. It claims to invest around $50000- $150000 (around Rs 37 lakh- Rs 1 crore) in early-stage startups.
Earlier this month, We Circle Founder applied for its first fund with the Securities and Exchange Board of India (Sebi) that seeks to raise Rs 200 crore (around $27 million).
Recently, We Founder Circle, along with others, invested in Settl, a managed accommodation provider.