- What is tipping point?
Tipping point is co-created by KarmaCircles and Global Women Network.
- There are so many pitch competitions going around. How is Tipping Point different?
Tipping Point has been conceptualized by KarmaCircles and Global Women Network.Over the years, there has been a surge of many pitch competitions. All these competitions create more mileage for the "competition" rather than the startups. We noticed that the core of these competitions was the funding element and there is a serious lack of quality & content. We interviewed several entrepreneurs and reviewed several pitch competition formats & the judging involved. We also took a close look at Shark Tank (the famous American TV show) and few Indian TV shows. We concluded that mentoring & visibility is most critical for a startup (than even funding). So, we created Tipping Point which focuses on- personalized mentoring
- makes a brand of the participants themselves
- gives them new visibility across the world.
Tipping Point aims to create stars out of the 30 startups who make it to the finals and help them "tip".
- Really? Does visibility matter so much?
Yes. Successful business are created by enhanced visibility rather than influx of funding and data proves it.Founder of KarmaCircles, Deepak Goel, was involved in fund raising via Shark Tank in his last startup, Packback. He has also been an angel investor and has mentored thousands of entrepreneurs over the last decade. When he researched the Shark Tank data, he learnt that only about 15% of companies got the deal that they made on the show and 87% of businesses who didn't get the deal are still operating.
These data points are also available on Wikipedia and other public sources. Several interviews with Shark Tank participants also tell us that startups pitch there for the visibility and not for funding,
- Who can apply to "Tipping Point" ?
Any women entrepreneur of Indian origin with an idea could apply to Tipping Point. Business could be technical, traditional or social enterprise.However, your chances of making it to the next round are higher if- You have a working prototype.
- You have a business-to-consumer startup/business.
- Your business has a social angle or is inspirational.
- You are a student entrepreneur.
- You are recommended by one of our partners, mentors, investors or reps.
- Will I need to pay anything?
You don't need to pay anything to apply in the first phase. If you are shortlisted for the second round, you will need to pay a nominal fee to cover the logistical cost of mentoring sessions.
- Who can be a "Tipping Point" investor?
Anyone who has invested in at least one startup either as angel investor or as part of a VC firm.- Investors who have invested in a women-led startup/business will be given preference.