Sanchiconnect, a community focused on deep-tech start-ups, investors and corporations today announced the launch of Powerpitch, a platform designed to assist businesses in managing open innovation challenges and internal programs. 

Powerpitch is a do-it-yourself (DIY) platform that takes advantage of the collective intelligence of the internal ecosystem by providing features to aid in managing open innovation.

Powerpitch addresses the common issue faced by corporate innovation teams in identifying the best start-ups or applications for their business case. When a business case is launched on the platform, it is automatically notified to over 1000 curated deep tech startups on the Sanchiconnect platform, as well as an extended database of more than 70,000 start-ups and more than 55 ecosystem partners (incubators and accelerators).

Traditional methods of collecting applications from start-ups, such as using Excel sheets or Google Forms, can be time-consuming and tedious. However, Powerpitch's video-first approach enables innovation teams to evaluate start-ups more efficiently by using video pitches supplemented by customised additional information. This enables enterprises to gain a better understanding of a start-up's vision, team and business model, leading to improved decision-making.

"We are excited to introduce Powerpitch - an all-in-one video-first platform to help enterprises manage all their open innovation needs. The video-first approach will empower buyers/investors to evaluate propositions more efficiently in significantly less time," said Sunil Shekhawat, CEO (chief executive officer) of Sanchiconnect.

Powerpitch has already been tested in beta by several enterprises and investors, receiving positive feedback. 

"Powerpitch's video-first approach to pitching is a refreshing change to the ecosystem. It is a lot more efficient way to understand the product and founder's vision," observed Chirag Gupta, managing partner at 8X Ventures.