PayU in search for the next big Startup, hosts ‘UpStart Pitch’

In continuance with its endeavor to promote entrepreneurship and startups in India, PayU organized the first edition of UpStart Pitch, an event that provides a platform for startups to present their unique and disruptive ideas to top investors in the country and make the transition from ideas to formalized action plans, with the opportunity to win funding.

Organized along with KStart and Matrix Partners in search for the next big startup, the event witnessed the presence of 10 startups who pitched their ideas to the judges. KStart (the acceleration wing of Kalaari Capital) and Matrix Partners are the investment partners in this edition of UpStart Pitch.

The application process for UpStart pitch began on April 12th and received an overwhelming response with over 150 pitches in the one month application window. After multiple grueling sessions by the investor partners to pick the right candidates, the top 10 startups were selected and given a chance to pitch in front of KStart and Matrix Partners at the event.

The Jurors – Vani Kola, MD at Kalaari Capital; Vikram Vaidyanathan, MD of Matrix Partners India and Amrish Rau, CEO of PayU India deliberated on the winning pitch. The end of the event saw the judges declaring Entropik Technologies as the winner, while LetsEndorse Development and AppsPicket emerged as the first and the second runner up respectively. The winners will move on to the next round of discussion with investor partners.

The winning pitch Entropik technologies, aims to build emotional interactivity and works in the space of Emotion Tech. According to Ranjan Kumar, co-founder of Entropik Technologies, “UpStart Pitch has been a great experience to pitch our product Affectlab.io and hear feedback from seasoned entrepreneurs like Vani. While on one hand winning the competition reaffirms our strategy and approach, it’s also a great platform to get access to VCs like Kalaari and Matrix.”

First runner-up of UpStart Pitch was LetsEndorse Development which is a social venture and a digital ecosystem of powerful social innovations from across the globe, grass-root implementation partners/NGOs, responsible corporations, local administration and socially-savvy individuals.

Second runner up AppsPicket has a one-step, Two-Factor Authentication that helps businesses to authenticate their users with frictionless, public key crypto based, strong two factor authentication that does not involve multiple steps nor require any change in the user behavior.

Amrish Rau, CEO, PayU India said: “We are proud of our team for successfully executing the first edition of Upstart Pitch. We saw some amazing talent at the event with a variety of quality companies that are tackling real problems in new and innovative ways. Platforms like these are our way of giving back to the startup community and contribute to nation building. We applaud the winners who showcased their talent and passion towards their goals.”

A master strategist, Amrish brings a wealth of experience to the table, having worked with large banks to implement payments and delivery channel strategies and improve customer acquisition practices.

Known for spotting entrepreneurs and ideas that scale to become successful businesses, Vani Kola, Managing Director, Kalaari Capital said “Upstart Pitch is a pioneering project and an important addition to the start-up ecosystem. Quality of ideas presented was exciting. Seasoned entrepreneurs’ involvement by Amrish and Jitendra offers inspiration and paves the way for others. Successful companies like PayU encouraging startups are a positive initiative. I am glad to have had the opportunity to participate in the first edition.”