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Five start-ups get instant funding at TiE event

Winners were chosen from 200 applicants; made a pitch to 10 investors for Rs 10 lakh funding each against 8% equity

BS Reporter  |  Hyderabad 

Imagine a location-based mobile application that enables its users to create, join and book sports and fitness activities in their nearby location. And, an app that provides users with in-depth information about hostels around them!

Play Your Sport and Hostel Dunia were among the five start-ups, which received on-the-spot funding at The Indus Entrepreneurs (TiE) Hyderabad’s early stage start-up instant seed funding session, Startup Heroes, held here on Saturday. The other three start-ups were Enabli, a lead generation tool for consumer-facing businesses, You Grad, a community for students to network, learn, share and have fun, and CBS, an Internet of Things (IoT) platform.

Of the 200 start-ups that sent nominations to TiE Hyderabad for the funding event, 10 with a working prototype were selected after multiple rounds.

Each of these start-ups were given five minutes to pitch to 10 investors for a funding of Rs 10 lakh each, against an eight per cent equity.

On Saturday, TiE organised its annual flagship event, SmashUp, for early age startups to enable them to learn the art of building successful ventures from eminent mentors and inspirational successful entrepreneurs.

The event also witnessed the start-ups participating in a couple of panel discussions by experts.

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First Published: Sun, January 18 2015. 23:26 IST