Face-off of a different kind

 Telangana | Written by : Suryaa Desk Updated: Fri, Apr 07, 2017, 08:02 PM

Twenty four start-ups participate in ‘Get in the Ring Hyderabad’

It was a face-off in the ring, but of a different kind. The jabs and uppercuts did not determine the winner, but the revenue models and business projections of individuals did.

At ‘Get in the Ring Hyderabad’, entrepreneurs battled it out with their competitors while investors, start-up leaders and the audience acted as jury members.

In the end, AnyTimeLoan (ATL) was declared the winner at the event organised at T-Hub on Thursday.

A total of 24 start-ups participated in the day-long competition of which six reached the semifinals for a face-off. The top six were Paymatrix, Authbase, Gayam Motor Works, SpotDraft, ATL, NicheAI.

Business models

In the allotted time, the competitors had to explain their business models convincingly. The entrepreneurs also had to face questions from the jury. The start-up models ranged from artificial intelligence to bikes to financial products. The host of the day was Hendrik Haibe, who made the event quite engaging. Jochem Cuppen, Global Director, Get in the Ring Foundation, said the start-ups need to work towards capturing markets across the globe.

Bridging the gap

T-Hub CEO Jay Krishnan said, “In India, while the start-up ecosystem is becoming robust, it is also true that a large number of start-ups fail to reach the next level, not because they have a bad product, but because they do not have access to enough funding and the right kind of mentors to guide them in their journey. Through our association with the Get in the Ring Foundation, we aim to bridge this gap and help these start-ups gain visibility, reach out to potential investors and customers while they interact with experts and mentors.”

Contest in Singapore

The winner, ATL, provider of peer-to-peer on-demand lending facilities, will now gear up to battle it out at the Get in the Ring Foundation’s Global Start-up Competition in May in Singapore.