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Finnovatica 2017 & 2018
VITTBI has associated with Fullerton India which is one of the fastest growing NBFCs in the country with a customer base crossing 1.5 million. Fullerton is catching up with the current wave of digital innovation in banking and financial industry by associating itself with the academic institutions by throwing fintech challenges. Fullerton had launched Finnovatica, a fintech challenge in February 2017 in VIT through E-Cell and VITTBI.
Genesis, Appathon and Final Arena are the stages of the contest. Team Finlit from VIT went on to win the first place with a prize money of Rs. 15 lakhs in 2017 at the Final Arena. About 8 teams from VIT, Vellore were shortlisted to present their Fintech ideas at the Finnovatica 2018, of which 5 teams from VIT won Rs. 30,000 each in the Appathon round while two teams, Team Credit AI and Team Nexus went on to win the second and third positions with Rs. 7 lakhs and Rs. 5 lakhs as prize money at the Final Arena for 2018.
Student Startup Venture Grant Initiative 2016-17 onwards
Student Startup Venture Support is an initiative by the VIT Management and is implemented through the Entrepreneurship Cell of VIT and VITTBI. Grant support to the tune of Rs. 1 crore is made available to the VIT students in their innovative prototype/product development. This initiative is open to support 100 innovations at about Rs. 1 lakh per project.
This programme offers handholding and mentoring support and is a Launchpad for aspiring student entrepreneurs in the creation of ventures under the Incubation program of VITTBI.
VITTBI-VS Prudence Student Startup Grant (2013-14 to 2014-15)
VIT-TBI associated with VS Prudence Advisors, an advisory, mentoring and consultancy firm involved in supporting startup businesses and provided grants to innovative student projects at VIT. This grant was utilized to develop their prototype, test, refine, create IP and make it market ready.
VS Prudence Advisors is an advisory, mentoring and consultancy firm involved in the development of startup businesses for the past 8 years. The company helps entrepreneurs, guides them and mentors them with an aim to turn them into profitable and self-sustainable businesses. Prudence provides a whole array of startup services including fundraising to startups.
Startup Connect Program (2013)
VITTBI, in association with TATA Elxsi's Incub@TE program and V.S Prudence Advisors launched a Startup Connect program. A curtain raiser event for VIT students was organized on 13th September, 2013. Mr. Praveen Jhajaria of Incub@TE, Ms.Salma Moosa & Mr. Vivek Srinivasan of V.S. Prudence Advisors and Mr. A. Balachandran, General Manager, VITTBI addressed the participants on the Startup ecosystem in general and about the Startup Connect program in particular. 31 Business plans from various student teams were received. 10 finalists were invited to present before a jury comprising members from Tata Elxsi, Prudence, VITTBI and Winfin Technologies. Mr.Rajesh Kumar,Vice President of Tata Elxsi and Mr.Raghavendra Prasad,CEO of Wifin Technologies addressed the participants during the Finals event held on 19th October 2013. Three winning teams were awarded prizes, and all the 10 teams would receive mentoring from VITTBI, V.S. Prudence Advisors and Tata Incub@TE
A 3-month in-house Youth Entrepreneurship Skills Development Initiative (YES-DI) for 24 West African nationals from Cote D’Ivoire, Guinea, Liberia and Sierra Leone was conducted by VIT-TBI along with VIT Business School with the support from UCSSIC, UNIDO. The objective of the training was to equip potential entrepreneurs with basic business management skills and facilitate them to develop business plans. The participants were provided extensive inputs on Entrepreneurship, Opportunity Identification & Evaluation, Marketing, Promotion, Finance, Human Resource Management, Business Modeling and Planning and were taken on industry visits. The outcome of the programme saw 10 business ventures and 3 incubators being set up in West Africa apart from several hundred individuals getting trained in Entrepreneurship through these participants.Watch the UNIDO Project Movie & testimonials:
The Blueprints Club (TBC) is a joint initiative by VIT-Technology Business Incubator and by VS Prudence Advisors Pvt. Ltd. with an aim to reach out to students in the country and help them develop their ideas into startups. With weekly meetings, the aspiring student entrepreneurs are taken closer to their goals of setting up their own venture. TBC functions in two tracks, the Runway and Takeoff. Runway is for students, who are still not clear about what a startup entails and what they might have do so to get a startup up and running; but are nevertheless interested in starting up. Take-Off is for students who have figured out what they wish to do and need to take the next step from the prototypes/models that they may have already built. TBC offers guidance in terms of developing a business model around the product that they have already developed. These sessions will have a more focused and result oriented agenda.
Activities: Weekly meet-ups providing start-up business inputs / Mentoring / Funding prototypes / IPR support /Venture incorporation support