SunTec Launches Seed Funding initiative for Student Entrepreneurs

TechnoparkToday.com>> November 7, 2014: Technopark-based SunTec Business Solutions, the leading provider of Revenue Management and Business Assurance solutions has launched ‘Xelerator’, a seed funding initiative to encourage entrepreneurship amongst college students in India. Through this program SunTec will provide young entrepreneurs advice, support and funding to help them convert their idea into a viable business. SunTec has announced an investment of USD One Million towards this initiative.

Nanda Kumar, Chief Executive Officer, SunTec Business Solutions and an entrepreneur himself, said “SunTec has always believed in creativity and innovation right from its inception and is committed to build products that will have a social impact which makes life better. Xelerator initiative has been set up with the objective to create a culture of innovation and motivate young minds into entrepreneurship. We are on the lookout for extraordinary ideas that can be developed to interesting business opportunities and for this we will provide them with infrastructure, financial and mentoring support.”

SunTec aims at visiting 30 major engineering campuses, across South India within six months, and the students can propose their ideas to the expert panel. The shortlisted candidates will then be offered to attend a workshop of entrepreneurs which will be conducted in Trivandrum, Kerala. At the workshop the selected teams will be given an opportunity to present their business ideas in detail to the expert panel (comprising of SunTec senior leadership and experts from the industry). The winning teams will be funded by SunTec to further develop the idea into a functional product in the market. SunTec would also be making some job offers to the participants.

“Budding entrepreneurs are one step closer to turning their big ideas into successful ventures .We are looking for young innovative entrepreneurs who have next generation ideas in software, apps, green technology, electronic hardware embedded systems, bio information, bio medical devices or bio technology. We want to enable such young leaders and introduce their unique idea as a finished product in the market”, added G Vijayaraghavan, Member-Board of Directors, SunTec Business Solutions.