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News & Press: Mar 2012

BITS Spark Angels - Investment Round

Wednesday, March 14, 2012   (0 Comments)
Posted by: BITS Spark
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BITS Spark invites startups to apply for the first BITS Spark Angels investment round.

BITS Spark is an initiative launched by the institute and alumni of BITS Pilani, with the aim of building an entrepreneur ecosystem for BITSians.

Spark Angels is an angel network comprising of BITSian angels (distinguished alumni and entrepreneurs) and select non-BITSians partners. It is targeted at funding high potential seed stage BITSian start-ups based in India. The investment round would be a quarterly affair with the first one to be held on April 18th, 2012.  Angel funding is targeted towards startups that have sufficient traction with the intent to raise a seed round (in upwards of INR 25 lakhs). Here are the list of confirmed angels till date: http://bit.ly/zCLUPn (and we're busy confirming more).

Startups meeting the following criteria are more likely to be considered. If your startup does not meet the criteria, you are recommended to wait until you achieve sufficient traction.
  • At least one BITSian co-founders.
  • Startup should be registered in India.
  • Startup should have sufficient traction to be eligible for angel funding  (E.g. sufficient customer or user base, key partnerships, prior funding, proven business model or existing revenue streams).
  • Startup should be at a stage looking for funding upwards of INR 25 lakhs to be utilized in the next 6 months.
Angel Funding Deadlines
  • March 18th - Application Deadline for Executive summary. (Fill in your startup details here -  http://bit.ly/xQsDXI)
  • March 21st - Update call with all the start-ups that apply (to clarify doubts and set expectations).
  • April 4th - Deadline for detailed applications. Screening process begins for the detailed applications.
  • April 18th - Spark Angles First Investment round concludes.

Startups interested in applying should complete the executive summary at http://bit.ly/xQsDXI before 23:59 hrs (IST) on Sunday, Mar 18th, 2012. Following your submission, there will be an info call on Mar 21st, 2012 to prepare for next steps.

If you missed our previous communication and would like to come on board as an angel, please complete this contact form http://bit.ly/z8yZ9d and we will get in touch with you. If you have any doubts, you can reach Satish Gupta ('61), Nakul Jamadagni (09') or Rishabh Kaul('11) at spark-angels@bitsaa.org.

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