13 September, 2024, New Delhi: Ritesh Agarwal, founder & group CEO of travel-tech company OYO,recently joined forces with global influencer Nuseir Yassin’s (popularly known as NAS) creator platform and online learning portal BackToBackSWE for the 7-Day Startup Challenge, a program designedto guide early-stage startups through the foundational steps of building and refining a business idea, with Agarwal awarding a Rs 10 lakh equity-free grant to five winners.
The challenge attracted nearly 3,000 participants from around the world, including India, the US, Canada and the UAE. The event, which was hosted on NAS.io, revolved around seven distinct daily themes, each covering a crucial aspect of business development, ranging from goal setting and market research to product roadmap and branding.
The five winners included Bharat Anubhav, an Odisha-based company building a marketplace for certified tourist guides; Ekogalaxy, a climate education platform; Harmony Sourcing, which is helping global buyers connect with factories in India; Farmkrate, an agricultural solutions startup in Andhra Pradesh; and Aura, a mental wellbeing initiative out of Bengaluru.
“Over the years, several people have helped me in my entrepreneurial journey. I feel it is only fitting that I return the favour to the next generation of entrepreneurs by sharing my experience. NAS.io, with its large network of aspiring startups founders, and BackToBackSWE, which offers comprehensive mentorship programs, were ideal partners for such an initiative,” said Agarwal.
“This program will hopefully not only equip them with essential business skills but also foster a spirit of innovation and community. India is in the throes of a startup revolution, with young founders solving realworld problems. With the right support, startups can power the next wave of economic growth.”
Roshan Paul, co-founder at Aura, one of the winners, added: “The simple, step-by-step approach made it easy to refine our idea, and the support we received from the community members was invaluable. Competing with so many talented participants made this a rewarding experience.”
Agarwal is also mentoring startups through his stint at reality TV series Shark Tank India, where he made his debut during the third season earlier this year, becoming the youngest judge on the show. Last year, he announced an equity-free grant of Rs 5 lakh each to four startups from Ladakh in partnership with the Naropa Fellowship.
