VCs-Investors’ pact with Start-ups

Twelve #Venture Capitalists (VCs) and Investors have exchanged funding agreement/Memorandum of Understanding worth Rs.85 Crore with 12 start-ups in #Automobile, #Healthcare, #Medical Devices, #Fintech, #E-Commerce, #Human Resource Management, #Unorganized Retail, and #Life Sciences.

These pacts would provide a fillip to the ongoing start-up movement in India, said the #Confederation of Indian Industry (CII) which had organized it in partnership with #Rashtrapati Bhavan under #Pitch@Rashtrapati Bhavan, graced by President Pranab Mukherjee.

It is a program to connect VCs/Investor’s with Start-ups and secure funding and mentoring support for potential entrepreneurs.

“The event was a celebration of a real-time match making between start-ups and investors, and provided a platform for all the stakeholders to leverage this unique opportunity,” said CII.

The event was organized to speed up India’s transformation, which is today undergoing a fundamental shift towards start-up friendly policies and a business-friendly environment, into a ‘Start-up Nation’.

The Start-up initiative is driven by a large young and aspirational population within the age group of 25 to 35, it said.

“The goal is to carry this positive momentum forward by nurturing India’s entrepreneurial eco-system and creating opportunities for its vast young population, to generate wealth and find gainful employment,” added CII.

The 12 VC organizations, 31 Start-ups, and 9 Grass-root innovators, who attended the program also got an opportunity to speak in front of key Government officials, Industry captains, and top notch investors.

The first of its kind event helped to establish a dialogue between Investors and Start-ups to assist in finding effective mentorship and adequate funding.

Going forward this platform can be further leveraged to encourage and create a wide network of entrepreneurs and start-ups in India, said CII in a press release dated 7 March 2017. fii-news.com