Jaipur: These 3 Class 10 Students Bagged Rs. 3 Crore Funding for their Start-up
Three class 10 students — Chetanya Golechha, Utsav Jain and Mrigank Gujjar have been successful in getting a funding of Rs. 3 crore for their start-up called 'Infusion Beverages.'
In these competitive times for businessmen, these three class 10 students — Chetanya Golechha, Utsav Jain and Mrigank Gujjar have been successful in getting a funding of Rs.3 crore for their start-up called 'Infusion Beverages.'
The three budding entrepreneurs had started their journey by participating in the entrepreneurship fest conducted by their school (Neerja Modi School) in April 2016. So far, they have successfully crossed the stages of ideation, finding investors and bringing their products to life.
Chetanya talked about their participation in the fest and said that they were eliminated after the first round as they were unable to impress the judges through their presentation. However, they later got an order of 150 flavoured water bottles to get a start, he added.
Their start-up aims to make flavoured water without the use of any preservatives. Mrigank shared about the ideation process and said that their team did a lot of research on how to prepare healthy drinks without the use of sugar and soda.
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Making their startup official was a tough task as they had to get the approval from FSSAI and the food department along with other necessary licenses. Their parents helped them in getting all the permits.
They decided to refine their idea and participated in the entrepreneurship competitions held at IIT-Kanpur and IIM-Indore where they were widely appreciation. Their first major achievement was when Malviya National Institute of Technology (MNIT) decided to incubate their idea. The institute also assisted them in applying for a patent.
The team had sold 8,000 bottles of flavoured water until January 2017 through business to business mode. Following this, they were called for an investment meeting where the investor decided to grant them Rs.3 crore for their business idea.
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They will look after the marketing and research roles, informed Utsav. He further added that the plan will be based in Indore.