An Indian start-up company has been awarded a 500,000 rupee (£4,800) grant in a unique business plan competition organised by London Business School and investors in Mumbai.
The Bangalore-based career analytics company, Kunal Varma, was awarded the prize following a presentation in the Indian financial capital last week.
The firm saw off competition from two-rival bidders to win the grant, which was evaluated by 86 students from the School.
"This is a grant from our end. It is not an angel investment, where equity will exchange hands. We are thankful for all our friends here and this is a gift from the School," John Mullins, Associate Professor of Management Practice at London Business School, was quoted as saying by the Economic Times.
It marks the second successive year that the School has taken a delegation of students to India on a Global Business Experience. The group spent a week in Mumbai, where they visited a local companies and entrepreneurs as well as making a trip to the Dharavi slum.