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Inflection Point Ventures Announces seed funding for Winners of startup accelerator program IPV Ideaschool Batch 1.0

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Delhi: Inflection Point Ventures, one of the most active and largest angel investment platforms, has announced the winners of its first ever early stage accelerator program IPV Ideaschool Batch 1.0. The three winners, Bloq Quantum, Medront Datalabs, Telkes Technologies were awarded a seed funding of Rs 80 lakhs each.

This six-week nationwide program was designed to transform early-stage startups from idea to MVP. After a rigorous multi-level selection process starting with over 1000 applications, the top 15 ideas made it to the final round. The journey was marked by intensive masterclasses, bootcamps, and mentorship sessions conducted by industry experts. Applications were received from several promising sectors, showcasing a diverse range of innovative solutions.

The top 15 finalists had the opportunity to pitch to a distinguished jury of reputed CXOs, including Sukhmani Bedi, Partner at Orios Venture Partners; Jaideep Singh Kalra, Director and Head Business Banking at HSBC; Karan Kumar, Business Development Manager at AWS; Vinay Bansal, Founder and CEO of Inflection Point Ventures; and Vikram Ramasubramanian, Partner at Inflection Point Ventures. The selection process ended with three winners receiving funding for their unique ideas, which had never been funded on the IPV platform before.

Congratulating the winners, Mitesh Shah, Co-Founder, Inflection Point Ventures says, “IPV Ideaschool accelerator program was started with a vision to support, nurture, and mentor sustainable and innovative startups that are developing technologies for large use cases but need hand holding to achieve the MVP stage. Through this program, we have received applications from metros to tier 2 towns like Vijayawada in Andhra Pradesh, Samastipur in Bihar, Kollam in Kerala, Kangra in Himachal Pradesh, and Jhalrapatan in Rajasthan. This confirms our thesis that innovation is not restricted to a select few in key startup hubs but today, next-gen founders are also emerging from small pockets.”

Founded by Sreekuttan LS, Bloq Quantum is revolutionizing quantum computing by building AI-enabled collaborative solutions for quantum data and algorithm pipelines. Medront Datalabs founded by Nitesh Singh is a secure Data Pods & Consent Platform. It gives users control over personal data & enables secure data exchange with D2C brands. Telkes Technologies (My Pickup), founded by Abhijeet Jagtap, provides subscription-based electric auto-rickshaw services for daily commutes to office goers and school children, aiming to disrupt the way people travel to their workplace or school.

Abhijeet Dattatraya Jagtap, Founder & CEO, Telkes Technologies says, “The accelerator program gives us a significant advantage over other startups. Not only have we secured initial funding, but we have also gained access to IPV’s extensive ecosystem, which includes VC connections, infrastructure support, strategic partnerships, and expert mentorship. Additionally, the Ideaschool program effectively filters out ideas from domain-agnostic startups with minimal traction but proven POCs to fast-track them and make them VC fund-ready. This comprehensive support helps us scale our businesses rapidly and effectively, ensuring our ability to raise institutional rounds.”

Following the success of Batch 1.0, IPV is excited to announce the launch of IPV Ideaschool Batch 2.0 commencing from 1st August 2024. This upcoming cohort promises to be even more impactful, providing early-stage startups with unparalleled opportunities to refine their business models, gain industry insights, and secure critical funding.

To be a part of the transformative journey, aspiring startups can apply for Batch 2 from 1st Aug 24 till 20th Aug 24. The program structure aims to be robust, focusing on nurturing innovative ideas and preparing startups for real-world challenges.

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