Capitalising on the current scenario among Indian youth — wherein all we can think about right now is starting up and gaining up some investment, Uber has launched UberPITCH. And as the headline and this name already makes it clear, you will now get a chance to pitch VCs, in your cab ride. No time to waste !
UberPITCH is the US-based upstarts pan-india startup challenge, wherein certain shortlisted entrepreneurs will get a chance to pitch in front of VCs in a rather unique setting — in a cab.
India’s commerce minister Nirmala Sitharaman kicked off this year’s challenge. Shortlisted entrepreneurs get to pitch their business ideas to investors and venture capitalists, during a specially organised Uber ride.
Uber further adds,
With just a push of a button on their app, business hopefuls stand a chance of getting advice – and more – from top investors and venture capitalists.
With Uber’s UberPITCH challenge, anyone who aspires to be the next big sensation in the startup space, can try pushing a button and eventually land up in a ride with a top Indian investor. Selected entrepreneurs will get seven minutes to pitch their idea during a ride with Uber — essentially an elevator pitch on wheels — and another seven minutes of feedback.
This is actually a part of Uber’s push to partner with Government (and get into the good books ?) initiatives for pushing entreprenuership among India’s growing youth population. Earlier, Uber’s VP for Communications and Policy, Rachel Whetstone, along with a host of other industry-leading mentors, met female entrepreneurs as part of UberEXCHANGE, Uber’s global startup mentorship programme. The fifth such event this year gave guidance to women-led startups.
Nirmala Sitharaman and DIPP secretary Ramesh Abhishek discussed how within a year of its inception, Start-Up India — the government’s own program to support young companies _ is strengthening the startup ecosystem in the country. Ms Whetstone and Ms. Sitharaman discussed how the landscape for women entrepreneurship is evolving in India and the importance of government-private partnership in facilitating startups.
Nirmala Sitaraman, lauding the initiative, added,
We are highly supportive of initiatives like UberEXCHANGE & UberPITCH that strengthen the current start-up space through mentor led knowledge-sharing and enable entrepreneurs to realise their potential. I’m excited to see how public-private partnerships are helping catalyse conversations and investment opportunities for Indian start-ups, in pursuit of our vision around Start-Up India.
Whetstone further added,
It was an honor to be able to share some of my experience with so many women who are clearly committed to making a difference. I’m pleased the UberEXCHANGE program is helping them unlock their potential.
Uber says that it is “committed to enabling the growth of the start-up eco-system in India” and both UberEXCHANGE and UberPITCH are aimed at deepening our engagement across the spectrum. 3 UberPITCH finalists will feature among the top 10 start-ups that will be flown to the Silicon Valley to meet the leadership team at Uber as well as exchange notes with big-ticket investors.
Don’t wait, Apply for UberPITCH right here. Who knows, you may end up getting some bucks for your idea in this largely grim investment year.