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What a good start!

HURRAY FOR ENTERPRISE Laura Parkins, Executive Director of NEN

First things first, what exactly is a start-up company? Wikipedia does a pretty good job of defining it as a company with “A limited operating history (less than five years), small teams (less than 50 people) and an uncertain future which may generally result in spectacular success, or failure.”

It’s to support, mentor and popularise Indian start-ups that Tata and the National Entrepreneurship Network (NEN), have come together to launch the TATA NEN Hottest Start-up Awards. NEN, founded by the Wadhwani Foundation, is a not-for- profit venture dedicated to supporting entrepreneurship in the country. Besides initiatives such as the setting up of entrepreneurship cells in colleges, conducting entrepreneurship events and talks, the Hottest Start-up Awards looks at popularising India’s top start-ups among the masses and rewarding the winners with tangible benefits, including funding and mentorship.

Those who would like to get involved can simply log onto www.hotteststartups.in or send out a sms with the name of the company to 56767.

The initiative is split into two rounds. The first one extends from till October 22 — this is when the public will be allowed to nominate and vote for their favourite start-ups regardless of which industry they belong to. Start-ups will also be judged by industry experts whose ratings will be factored in while choosing the final 30 that will make it to Round 2. Round 2 will be an entirely democratic phase, and it will culminate on December 23 when the final five winning start-ups will be chosen.

With prizes, including funding of Rs. 2 crore to Rs. 3 crore by the Seed Fund, admission to the Microsoft start-up accelerator program, specially designed classes by IIM-A and a host of other benefits; the stakes are extremely high.

As Laura Parkins, Executive Director of NEN tells us, “What Start-ups need more than anything is mind space, for people to hear about their products, appreciate the risks they have taken, their stories and goals. We believe the Hottest Start-up Awards gives them an opportunity to do just that; reach out to possible customers, employees and investors.”

Start-ups seemingly agree as well. As Sahil Parikh founder of DeskAway, a nominated start-up from Mumbai, tells us: “People tend to forget that the Apples, Googles and Microsofts of the world were, once upon a time, fledgling start-ups; it is initiatives such as these which many times enable one to take the next step.”

Interested in supporting India’s very own Google? It could now just be a click away!

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