BW Businessworld, in what is an annual exercise, started an online campaign to identify the young and the brightest in new entrepreneurship in 2016. The best among the rest was chosen with a rigorous methodology of filing nominations in two categories — 1) Those that were between 3 and 7 years old; and 2) Those less than 3 years old.
Another requirement mandated that companies should have a minimum capital between Rs 5,00,000 and Rs 25,00,000, and whose 80 per cent of revenues are from domestic operations.
The applications went through a multilayered evaluation process, which was efficiently monitored by our Knowledge Partner Grant Thornton India. After going through the applications in detail, companies that didn’t meet the selection criteria, or had not provided critical information, were eliminated. A team of experts shortlisted companies based on their innovative business models, sustainability, scalability of business and overall financials.
The 32 finalists were invited to showcase their companies before an esteemed jury comprising successful entrepreneurs in their respective fields such as Sanjeev Bhikchandani, founder and executive vice-chairman, Info Edge; Siddharth Talwar, founder & India partner, Lighthouse Management; Bala Deshpande, senior managing director, New Enterprise Associates, a venture capital firm; Sudhir Variyar, managing director, Multiples Alternate Asset Management; K. Ganesh, founder, TutorVista; and Ritesh Pai, senior president & country head,Digital Banking, YES BANK.
The jury, thereafter, evaluated the data provided by the companies, and also gave time to shortlisted promoters to make presentations about their products, business models and future potential. After a rigorous screening process, around 10 companies in each of the categories made a pitch on the basis of their viable business models and a promising future.
monica@businessworld.in
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