MTI’s ‘idea2fund’ attracts 250 ideas

Wednesday, 2 March 2016 00:49 - - {{hitsCtrl.values.hits}}

A total of 250 potential start-ups and scale-ups have applied for the first round of MTI’s idea2fund, the deadline for which was 29 February 2016.

“We are pleasantly surprised by the overwhelming response, especially the last day entries which accounted for almost half the total applications!” said MTI’s CEO Hilmy Cader.

Over the next 4 weeks MTI Consulting will be evaluating each of the 250 responses, with a view to short listing a number for the first round of concept presentations scheduled for 26th and 27th March at the Colombo Hilton, with the presence of MTI’s CEO Hilmy Cader. Cader will be personally attending presentations by at least the Top 50 that make it to the Concept Presentations. According to Gayan Dias the MTI Business Analyst spearheading ‘idea2fund,’ “This does not mean that those ideas that do not make it to the Top 50 will be totally eliminated.

If these have potential, we will find a way to link them with potential funders. MTI’s ‘idea2fund’ is NOT a competition in that sense. As long as the idea has commercial potential, our 7 Investment Pledgers would be willing to consider funding even above the initial pledgers made.

The investment Pledgers are as follows: Abans, Access Engineering , LOLC-Brown & Company, East West Properties, Hemas Holdings, Hirdaramani Group of Companies and MTD Walkers.

The concept behind the idea2fund project aims to identify and support businesses that encompass a disruptive business model and hence, pave for them the way to build-up and support them in realising their business potential. The preparatory platform through the idea2fund program would assist prospective entrepreneurs to put forth their venture ideas, be challenged and receive constructive feedback, get connected with investors and receive start-up consulting advisory and execution through MTI Consulting

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