TiE-Hyderabad to hold instant funding event for startups

The Hyderabad chapter of The Indus Entrepreneurs (TiE) will hold its flagship event 'SmashUp' for early-stage startups to enable them to learn the art of building successful ventures from mentors and inspirational successful entrepreneurs, in Hyderabad on August 8. The one-day event will also have Startup Heroes, an instant funding platform.

Over 100 startups from both information technology (IT) and non-technical areas have already applied to participate in this funding event. Around 10 selected startups will get an opportunity to pitch to the angel investors who would invest Rs 15 lakh for pre-defined equity. The participating startups will be mentored in a boot camp by successful entrepreneurs.

"TiE's SmashUp has been a fantastic platform for enabling the early-stage startups to get funding, scale up and grow. The success of the last edition wherein five out of 10 startups pitching received funding interest from investors is a testimony to the quality of enterprising startups we have in Hyderabad," Safir Adeni, president, TiE-Hyderabad, and managing partner at Ineda Venture Group, said in a release on Tuesday.