MTI’s ‘idea2fund’ contestants pitch for funding

Tuesday, 3 May 2016 00:05 - - {{hitsCtrl.values.hits}}

Over the last weekend the Colombo Hilton hosted the Commercial Presentations of MTI’s ‘idea2fund’, where the Investment Pledgers (who would be funding Rs. 700 million) were presented with 39 pitches from the short-listed ‘ideas2fund’.

This round of presentation which included the review of the financial and investment implications, which were scrutinised and challenged by the judges. The ‘ideas2fund’ were from diverse domains, from vertical agriculture to art, from freelancing to grocery deliveries, from 3D printing to caravan tourism.

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“In the next five to 10 years, Sri Lanka (as it is globally) will witness disruptive business models that will challenge conventional business models. This will eventually lead to a radical change in the way wealth is created, accumulated and invested. Meanwhile, a new breed of entrepreneurs will challenge conventional and established businesses and business models. idea2fund attempts to identify and harness this Sri Lankan talent – from just an idea/intent through to business potential realisation,” said MTI Consulting CEO Hilmy Cader.

MTI’s ‘idea2fund’ is an enabling platform for prospective Sri Lankan entrepreneurs to present their venture ideas, be challenged and receive constructive feedback, get linked with investors/funders and receive start-up consulting advisory on go-to-market strategy and execution from MTI. It is open to anyone with a winning venture idea – individually, collectively as a team of your choice (two to three max) or even as an organization. This includes:

Students and early career professionals – with winning ideas and the ‘guts’ to venture out. Those looking to venture on their own – the young and daring with radical/disruptive business ideas).
Experienced professionals – looking for a mid-career break-out to ‘invest’ their expertise more profitably. Those with business-able skills, had enough of corporate life and looking to en-cash their skills/experience by starting on their own).
Existing niche entrepreneurs – looking to ‘game change’ and make it ‘big’. Small businesses with high potential to grow.
The investment pledgers are Abans, Access Engineering, LOLC-Brown & Company, East West Properties, Hemas Holdings, Hirdaramani Group of Companies and MTD Walkers.