CHESS 2025: Chhattisgarh’s startup ecosystem strengthens with rising investor interest

Startups are no longer confined to metropolitan hubs like Bengaluru, Delhi, and Mumbai. Recent reports by the National Association of Software and Service Companies and the Department for Promotion of Industry and Internal Trade (DPIIT) highlight the increasing number of startups emerging from Tier II and Tier III cities. 

The shift is driven by factors such as lower operating costs, availability of local talent, and government initiatives aimed at promoting entrepreneurship in non-metros. Incubators, accelerators, and local networking events are actively contributing to the growth of these ecosystems, providing crucial support and resources to startups.

In Chhattisgarh, Rungta College of Engineering and Technology (RCET), Bhilai, is playing a pivotal role in transforming the state into a startup hub that nurtures innovation and entrepreneurship. One of its key initiatives includes the Rungta College Technology Business Incubator (RUBI), which provides resources, guidance, and mentorship to students interested in starting their own ventures. 

Formed in 2016, RUBI is built on the principle of five I’s – infrastructure, incubation, investment, intelligence, and IT. It offers robust technology infrastructure, development tools, test facilities, and support to aspiring entrepreneurs, including mentorship, access to early-stage seed and angel investments, market outreach, and assistance with statutory compliances, registrations, legal documentation, and intellectual property rights.

Last year in February, RUBI received the Startup India Seed Fund Scheme grant, providing crucial financial support to budding startups incubated within the college ecosystem. It recently also secured Rs 90 lakh in funding, enhancing its capacity to support student and entrepreneur initiatives. 

Chhattisgarh has 362 startups as of December 31, 2023, according to DPIIT.  

What is CHESS?

A flagship initiative of RUBI is the annual Chhattisgarh Entrepreneurship and Startup Summit (CHESS), which serves as a platform for startups, investors, government institutions, and incubators from across the country to collaborate and exchange ideas while highlighting the gaps and potential of the state.

The inaugural summit, CHESS 2023, held in September 2023, was one of the largest startup gatherings in the region, attracting about 25 investors and resulting in private investments of around Rs 2 crore for participating startups. 

Building on this success, the recently-concluded second edition, CHESS 2025, saw over 40 investors in attendance and 30 startups qualifying for the final round of pitching. 

Chhattisgarh Finance Minister O P Choudhary, who inaugurated the event, made several key announcements for the first time – conversion of the 100 km continuous urban stretch from Naya Raipur to Rajnandgaon into a Chhattisgarh capital region, investments in IT services infrastructure in Naya Raipur, bringing data centers and promising to initiate measures aimed at attracting IT companies to the state.

The seven panel discussions focused on wide-ranging topics: building startups from scratch, understanding investors, exploring AI and deep tech disruptions, family businesses and their interest and potential to invest, and the role of incubators. 

The formation of the Chhattisgarh Angel Investors Network was announced with an aim to create a state-specific fund that will support startups and business enterprises in post-seed and series stages with funding.  

CHESS also gave away awards for businesspersons and startup founders in six categories, with Shradha Sharma, Founder and CEO of YourStory, bagging the ‘Voice of Startups’ title.

Sensitising attendees

Speaking during the inauguration of the event, Shradha said that of the two lakh stories YourStory had published till date, her favourite story “is Ratan Tata”. “I’m fortunate to have met him not just once, but multiple times,” she said.

Ratan Tata invested in YourStory in 2015, showing his belief in the platform’s mission to empower entrepreneurs. “When I told my father about Tata’s investment, his reaction was casual—‘What’s the big deal?’—but deep down, I knew he was proud. That’s how middle-class parents are; they rarely express praise openly,” Shradha recalled.

Sharing details from her interactions with Tata, she remembers asking him once, “What still motivates you at this age?” His response revealed his deep thinking and commitment to the country and its people. “When I step outside and see children begging on the streets, how can I rest in such an India?” he replied.

“He was always there for people—ready to help, care, and listen,” Shradha said.

During one of her visits to his home, Tata was recovering from knee pain. “As I was leaving, he walked with me to the door. I urged him to rest, telling him it wasn’t necessary, but he wouldn’t listen,” Shradha remembered, noting the small but profound gesture that reflected his warmth and humility. 

Advice on entrepreneurship

In her speech, Patna-born Shradha encouraged attendees to “Dream big, build bigger!”, highlighting how combining a grand vision with effective execution can transform startups into successful ventures. She also commended Rungta College for its significant role in fostering a robust startup ecosystem through initiatives like CHESS.

Shradha's address served as a motivational call to action, urging aspiring entrepreneurs to pursue their ambitions with determination and to leverage the supportive platforms available to them.

Highlighting a crucial issue, she pointed out how access to initial capital is a challenge for all entrepreneurs, especially women as they face additional constraints due to societal expectations around marriage and motherhood.

“Instead of dissociating these concerns, supportive ecosystems, flexible funding structures, and policy-driven interventions can help bridge the gap,” Shradha said.

Shradha signed off by defining her USP: “I never back down from a challenge—give me the hardest, toughest, most difficult situations, and I’ll face them head-on.”