Peer-to-peer lending platform AnyTimeLoan (ATL) won the India chapter of Get in the Ring on Thursday. ATL will now compete with startups around the world in the Global Startup Competition, which will be held in Singapore in May.
Global startup pitching competition Get in the Ring conducted its India chapter in Hyderabad, presented by startup engine T-Hub. Organised by Get in the Ring Foundation, this yearly pitch competition challenges startups to battle it out one-on-one in an actual boxing ring by pitching their company to a jury. Startups compete for awards, a place in the global final and the attention of potential investors.
Twenty four startups participated in the competition of which sixe startups had a faceoff in front of the Jury. Paymatrix, Authbase, Gayam Motor Works, SpotDraft, ATL, NicheAI were the startups that made it to the round. Startups had to prove their worth with different criteria like a competent team, sound business model, achievements so far and funding requirements. With a sound business model, which has already profitable ATL will now compete against startups across the globe. It also won a cash prize of 1,200 pounds.
ATL is a peer-to-peer on demand lending provider which provides mortgages, small loans, overdrafts and loans against property. There is an algorithm that analyses information of the individual seeking a loan from 187 data points.
Speaking about the event, Jay Krishnan, CEO, T-Hub said, “In India, while the startup ecosystem is becoming robust, it is also true that large number of startups fail to reach the next level, not because they have a bad product. It is usually because they do not have access to enough funding and the right kind of mentors to guide them in their journey. Through our association with the Get in the Ring Foundation, we aim to bridge this gap and help these startups gain visibility, reach out to potential investors, customers while they interact with experts and mentors.”
"Through a fruitful partnership with T-Hub, Get in the Ring hopes to inculcate a hunger for great companies to capture markets across the globe,” said Jochem Cuppen, Global Director, Get in the Ring Foundation.
The Get in the Ring Foundation, started in 2012, helps startups connect with opportunities to grow and reduce failure rates of startups from nine out of ten to eight out of then. It conducts Get in the Ring every year and is active across 100 countries.
This article has been produced with inputs from T Hub as a part of a partner program.