10 finalists get selected for the final round; the winner can receive upto INR 1 crore in
seed funding by ShopClues
New Delhi, 19 August, 2016: In a move to amplify the entrepreneurial spirit amongst SMEs and local merchants throughout the country, ShopClues, India’s first and largest managed marketplace recently organised the third phase of ShopClues’ Next Big e-Preneur Challenge. Announced in October 2015, ShopClues’ Next Big e-Preneur Challenge is a platform to enable budding and established entrepreneurs to showcase their business ideas, brainstorm over them with leading entrepreneurs of the country, and receive feedback. The winning e-commerce idea can receive upto INR 1 crore in seed funding from ShopClues.
ShopClues’ Next Big e-Preneur Challenge is divided into three phases. The initial phase attracted a total of 1000 entries from 40 cities across India. A manifestation of ShopClues’ overpowering reach in tier II and tier III geographies, a majority of the entries received by ShopClues were from these areas. Out of the initial entries, 199 were shortlisted during the second phase of the competition after an in-depth analysis of the detailed business plans shared by each participant from different segments. Each segment catered to selling unique products and introducing new e-commerce models/marketplaces, including online services, customised clothing, healthcare and financial services etc.
The judges for the event are Sandeep Aggarwal, Founder and CEO of Droom and Founder of ShopClues, Vishal Sharma, VP – Operations at ShopClues and Abha Bakaya, Senior Anchor and Editor at Bloomberg TV, India.
Sandeep Aggarwal founded India’s first online and fully transactional marketplace to buy & sell cars, bikes, scooters, superbikes, supercars, vintage cars, vintage scooters, bicycles etc. He is responsible for developing the overall product and platform for Droom besides designing strategy, defining overall vision and building a true Silicon Valley style start-up culture in the company. He had also envisioned and founded ShopClues, India’s first and largest managed marketplace in 2011 at his home in California.
With over two decades of experience in the fields of business development, business strategy and customer engagement, Vishal brings his expertise in operational management to oversee the rapid growth trajectory of ShopClues. Before taking on his present role, Vishal was the Business Lead for the Key Client Division at IndiaMART Intermesh, India’s largest online B2B marketplace for Small & Medium Size Businesses. Prior to that, he has held other important positions in prestigious organisations such as GE Consumer Finance, Standard Chartered Bank and iTrust Financial Advisors Pvt Ltd.
Anchor and Editor with Bloomberg TV, India, Abha Bakaya is the face of lifestyle & luxury shows like ‘The Date’ featuring young achievers and entrepreneurs and ‘Aspire’ that features the best designers and latest trends in the world of fashion. Abha has over 12 years’ experience in the news industry and is currently focusing on first generation entrepreneurs in the e-commerce space with her new show ‘E-INC’.
Sandeep Aggarwal, Founder of ShopClues and Droom, said, “The kind of ideas and novel concepts that we have come across during the ‘Next Big e-Preneur Challenge’ have been truly exceptional and overwhelming. It’s indeed heartening to see that the next clutch of entrepreneurs in India are really pushing the envelope of innovation and are also carefully looking at execution and profitability. I believe that challenges such as this are an ideal way to encourage fresh approaches and help bolster the ebullience that is already present in India’s start-up world.”
Sanjay Sethi, Co-Founder and CEO, ShopClues, added, “We are pleased to reach the concluding juncture of our Next Big e-Preneur Challenge. As one of the most significant and game-changing e-commerce ventures in India, we believe it is our onus to give entrepreneurship in the country a boost. All the entries we received were promising in their own way, and they made it apparent that the Indian business eco-system as a whole is moving towards a more vibrant, innovative and solution-centric future.”
Abha said, “Please Insert Quote”
The second phase screened 10 most promising e-commerce ideas. The shortlisted participants will now be invited to ShopClues’ headquarters in Gurgaon in order to present their ideas to the founding team of India’s newest Unicorn. Some of the business ideas include urban gardening and agriculture venture ‘Pepper Agro’ launched by Titus John and Sunimol John, surrogate marketing start-up ‘Beer Studio’ by Swapnil Gautam, Alok Kumar, and Shyam Iyer, and ‘Scrapify’, a start-up that aims to make scrap selling transparent and hassle-free. The results of the final phase will be announced on ** and the winning idea will be provided seed funding. ShopClues is also offering free ShopClues-UpGrad Entrepreneur Scholarships worth Rs. 10 lakhs to the 10 shortlisted teams in association with UpGrad, India’s leading industry-centric e-learning platform.
ShopClues is India’s first and the largest managed marketplace with more than 100 million monthly visitors on its website and was founded in July 2011 in Silicon Valley by Sandeep Aggarwal. With 5cr listed products and over 5,00,000 merchants, ShopClues aims to provide the best online shopping experience to its customers – starting from the great selection, low price, ease of use, fast delivery, and ending with the best customer service you have ever experienced. ShopClues ships in over 29k pin codes across India and has thousands of online stores.
The company is run by co-founders Sanjay Sethi & Radhika Aggarwal and an energetic team of over 1000 people and is funded by leading institutional investors, is an Indian subsidiary of Clues Network Inc., a US Corporation and is based out of Gurgaon.