While not its first set-up in India, Get in the Ring Foundation finally came to Hyderabad, a milestone of an event anchored by T-Hub . The event reminded start-ups and long-time business-people of the premise of successful entrepreneurships — competent business models brainstormed by qualified and passionate teams — while bringing a lively atmosphere to a boxing ring environment.
Jay Krishnan, CEO of T-Hub, shares, “Get in the Ring (GITR) for me is a testament of two things: the ability to see some of these fabulous start-ups that inspire real challenges, and the fact that we see this community build out of what is happening locally. It’s going to go international, and nothing is more heartwarming in the current days of nationalism. That’s the reason I’m excited to have Get in the Ring here today, and the story lends itself in terms of historic credibility into what we’ll be doing and what we’ll witness (at the competition).”
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Twenty-four start-ups initially participated as pitchers out of which six were selected for the face-off — Paymatrix, an endeavour to make online rental payments more streamlined; Authbase, a cyber security company; Gayam Motor Works, an eco-friendly designer, manufacturer and seller of electric vehicles; SpotDraft, a software layer integrated with artificial intelligence that makes contracts and invoicing an easy and air-tight process; AnyTimeLoan.in, an instant loan destination, and NicheAI, a deep learning platform with artificial intelligence components.
The fast-paced battle lasted for an hour and a half, but covered plenty of ground, pertaining to the expert perspectives of the judging panel. Two start-ups enter the ring and go up against each other by explaining their companies in five rounds — team members, past achievements, business models within the market, financials and investors’ propositions, and freestyle.
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Capital values
GITR co-founder Hendrik Halbe shares, that after years of simulating entrepreneurship in various industries, he was compelled towards a type of promotion that would be energising to inspire and appeal to youth. “In regards to the name, we figured ‘Get in the Ring’ and we thought we can make a boxing ring. So the concept evolved and we said if the pitching is bad, we can do rounds too.”
Jay talks about the beauty of the start-up community, “First, always start with a problem you want to solve. Without a problem, it’s just a hobby or a vocation. Secondly, community building. Communities span geographies, demographics, religion and race. And the start-up community is one thing that has belied everything in the world.”
GITR is unique with its face-to-face methodology. The exposure, be it national or global, allows entrepreneurs to gauge both investors’ and clients’ reactions in real time. Now GITR currently has more than 150 events in over a hundred countries. However far-reaching the foundation is, the core value is consistently adhered to, according to Hendrik, “We don’t get money you make, we don’t give money and you don’t get prize money — we give you valuable connections. I’ve seen too many start-ups that can live for a year off prize money, which makes people lazy.”
Get in the Ring is a reminder to businesses and the public that, while the Internet remains a cornerstone in entrepreneurship, there is a timeless integrity in creating a platform for start-ups to engage directly with the population in a creatively entertaining, fast-paced and honest way.
At GITR’s Global Conference in Singapore on May 17th - 19th, over 150 start-ups — including AnyTimeLoan —will be catered to with a plethora of activities which will create connections and reinforce pitching methods.