New Delhi, July 25 (IANS). In the second edition of ASSOCHAM Investor Connect, around 70 startups from across the country sought investment of approximately Rs 1,500 crore. The event sought to strengthen India’s innovation-based startup ecosystem by bringing together entrepreneurs, investors, corporate companies and policy-makers on one platform, the industry body said on Saturday.
More than 450 startups from across the country applied for this program, out of which 200 startups were shortlisted based on investor preferences and rigorous evaluation.
The most special thing about this year’s event was the increasing participation of young innovators. Their share in the program has increased from around 15 per cent in the first edition to around 30 per cent this time, reflecting the growing entrepreneurial spirit among the youth of India.
Addressing the event, Dr. Priyanka Shukla, CEO of My Bharat under the Department of Youth Affairs, said that India’s entrepreneurial future is not limited to metros only.
He said, “India’s youth have no dearth of ideas. All they need is opportunity, right guidance, experience and access to resources. The successful startup founders of the future will emerge not just from metros, but also from tier-2, tier-3, tier-4 cities, villages and aspirational districts.”
Dr. Panneerselvam Madangopal, CEO of MeitY Startup Hub, said that the strong partnership between startups, industry and investors will give a new direction to the technology-based companies of the future.
He said startups that solve real problems, develop intellectual property (IP) and build sustainable businesses with strong corporate governance will play a key role in India’s innovation-led economic growth.
At the same time, Dr. Ambika Sharma, Assistant Secretary General of ASSOCHAM, said that the organization is committed to creating an ecosystem where promising startups can get not only capital but also mentorship, market linkages and strategic partnerships.
“We are looking to expand our reach into Tier-2 and Tier-3 cities as well as develop meaningful collaborations that can transform innovations into large and successful businesses,” he said.
28 prominent investors also participated in the program. They interacted with the shortlisted startups in a one-on-one pitching session.
These startups presented their business models and innovations in sectors such as Defense Tech, Space Tech, Advanced Manufacturing, Climate Tech, Cyber Security, Fintech, SaaS, Consumer Tech, EV and Mobility, Health Tech, Clean Tech, Agritech and IT/ITeS.
–IANS
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