‘idea2fund’, the venture challenge platform initiated by MTI
Corporate Finance (MTI) has shortlisted 60 entry applications for the next round of concept presentations on March 26-27 at the Hilton Colombo Hotel. ”The task of shortlisting entry applications was a tough one given the overwhelming response to the first wave of the ‘idea2fund’ platform which saw almost 250 entry applications being received. Out of the 250, MTI’s panel of judges internally reviewed each application objectively over a set criteria several times before managing to shortlist 60 ideas for the next round,” according to an MTI media release.
It said ideas were received across all the domains from agriculture to education, ICT and Tourism. This is reflected in the breakdown of the domains of the shortlisted applications: 22 per cent (ICT), 7 per cent (agriculture), 7 per cent (education), 7 per cent (retailing), 7 per cent (social enterprises), 5 per cent (engineering), 5 per cent (financial services), 3 per cent (healthcare and personal care), 3 per cent (logistics), 3 per cent (professional services), 3 per cent (tourism), 2 per cent (fashion), 2 per cent (energy) and 25 per cent (other ventures).
MTI said the next round, concept presentations, would be an opportunity for the shortlisted entrepreneurs to present the concept of their idea. The presentations would cover in effect a summarised version of their entry application with the key points being highlighted with a Q&A session for the judges to fully appreciate the idea. The judging panel for the concept presentation would be MTI’s International Consultants including Hilmy Cader, CEO of MTI Consulting. MTI Corporate Finance is the corporate finance arm of MTI Consulting, a boutique strategy consultancy with a network of associates across Asia,-Africa and Middle East.