Salesforce, the #1 CRM, today announced the inaugural edition of AI Pitchfield, the first-ever startup pitch competition by the Salesforce Startup Community in collaboration with Salesforce Ventures, Lightspeed India and Khaitan & Co. The competition will bring together B2B SaaS, AI-first, and AI-focused startups in India and across Southeast Asia offering them a chance to put their best pitch forward and secure an investment of $100K from Salesforce Ventures.
Recognizing the transformative power of AI in shaping the future of business, AI Pitchfield offers growing and established startups the opportunity to pitch their unique business ideas. Shortlisted startups get to pitch in front of our esteemed jury consisting of Arundhathi Bhattacharya, CEO & Chairperson, Salesforce India; investors from Salesforce Ventures and leading executives and personalities from the Indian tech ecosystem.
Startups eligible for AI Pitchfield can apply by submitting the necessary details and resources via the competition websites application form, from October 21, 2024, to November 30, 2024. Salesforce Ventures, along with the Salesforce Startup Community, will review submitted applications to shortlist the top five finalists who will pitch live in the grand finale on January 9, 2025. The AI Pitchfield competition is subject in all respects to the competition terms and conditions provided on the AI Pitchfield website.
Comments on the news:
John Somorjai, President, Salesforce Ventures, said, “With the agent-fueld AI revolution charging ahead, there is an endless runway for innovation. In fact, the pace of transformation is faster than ever. By providing startups with the resources, exposure, and support they need to succeed, AI Pitchfield is empowering the next generation of AI leaders to shape a brighter future for all. AI Pitchfield is more than just a competition; it is a catalyst for innovation and a driving force behind the growth of the AI ecosystem in India and Singapore.
Sanket Atal, SVP and Managing Director – Operations & Technology, Salesforce India said, “In todays world, AI is a key driver of innovation, offering startups immense potential to overcome challenges and achieve success. AI Pitchfield serves as a dynamic platform that brings together like-minded entrepreneurs, enabling them to network, collaborate, and share ideas. By fostering connections, facilitating engagement with ecosystem partners, and providing investment opportunities, we are dedicated to empowering startups to harness the power of AI, bring their ideas to life, and shape the future of technology.
Hemant Mohaparta, Partner at Lightspeed said; “We are delighted to be a part of AI Pitchfield as we have a deep conviction in the power of these new-age startups to transform industries and shape the future of AI. We are excited to see how these visionary founders will drive the next wave of AI advancements.“
Interested startups can apply by submitting a pitch deck, product demo video, and financial information on the AI Pitchfield website.
Eligibility Criteria: To qualify for AI Pitchfield, startups must comply with the Official Rules and:
Provide a B2B SaaS, AI-first, or AI-enabled product(s) or service(s) in the technology space
Be in the pre-seed, seed, or Series A stage of fundraising
Have received at least $500,000 in prior venture funding from a reputable venture capital firm
Have at least five paying customers
Be incorporated as a corporation based in India or Singapore
At the time of the competition award, be recognized as a “startup” as defined by the Department for Promotion of Industry and Internal Trade, Government of India (for India-based entrants)
Pass Salesforce’s standard company due diligence and background checks
*No purchase necessary. Void where prohibited. Contest runs from 21/10/24 12:00am to 05/01/25 5:00pm IST, with Initial Entry Period from 21/10/24 12:00am to 30/11/24 at 5pm. Open to legal residents of India, the U.S. (incl. D.C.), Australia, Canada (excl. Quebec), New Zealand, Philippines, Singapore, U.K. Must be 18+. See Official Rules.
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