Salesforce, the world’s top CRM provider, has announced the launch of AI Pitchfield, the first-ever pitch competition hosted by the Salesforce Startup Community in partnership with Salesforce Ventures, Lightspeed India, and Khaitan & Co. This competition invites B2B SaaS and AI-focused startups from India and Southeast Asia to present their innovative ideas, offering a prime opportunity to win a $100,000 investment from Salesforce Ventures.
Highlighting AI’s Role in Business Innovation
AI Pitchfield was created to support the next generation of tech startups leveraging AI to drive business transformation. Startups with a strong focus on AI-driven solutions and B2B SaaS can showcase their business models and technological innovations, pitching to a panel of prominent industry experts and investors.
The jury for AI Pitchfield includes notable personalities from the Indian tech ecosystem, including Arundhathi Bhattacharya, CEO & Chairperson of Salesforce India, along with other top investors from Salesforce Ventures.
Application Process and Timeline
Startups can apply to participate in AI Pitchfield by submitting their details and pitch materials through the competition’s website. The application period is open from October 21, 2024, through November 30, 2024. Once applications close, Salesforce Ventures and the Salesforce Startup Community will review all submissions to select the top five finalists.
These finalists will have the chance to pitch live in the grand finale event on January 9, 2025, competing for the $100,000 investment and the spotlight to further their ventures. The competition is subject to terms and conditions detailed on the AI Pitchfield website.
An Opportunity to Accelerate Growth in the AI Space
AI Pitchfield offers a strategic platform for AI-first startups to secure resources and mentorship, helping them accelerate their growth in the competitive AI landscape. As the influence of AI and SaaS continues to expand, Salesforce’s commitment to supporting innovation reflects its investment in the future of business technology.
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 today’s 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+.
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