Ventureast announces '1-min Pitch Challenge' for entrepreneurs

To participate, entrepreneurs need to send in their elevator pitch that captures the uniqueness of their venture in a 60-second video

Venture capital institution, Ventureast, on Friday announced the '1-min Pitch Challenge', an elevator pitch opportunity targeted at early-stage start-ups.

To participate, entrepreneurs need to send in their elevator pitch that captures the uniqueness of their business venture in a 60-second video. The best entries will be invited for an exclusive mentoring session with Ventureast and will get a chance to qualify for the Startup Launch at UnPlugged 2016, a startup event scheduled to be held in May in Bengaluru, where they get to pitch to a group of investors.

In the 1-min pitch video, the entrepreneur should essentially identify the problem, present the solution, targets achieved, and plan of action. The startup must be post-MVP (minimum viable product) or an early-stage business with market traction.

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"We are looking at big ideas that can build great companies, and a differentiated approach to solving a large unmet need in the Indian market. Through this initiative, we want to help more committed entrepreneurs to launch their startups and provide them with the right platform to attract funding," Sarath Naru, managing partner at Ventureast, said in a statement.