Venture Catalysts Uttar Pradesh Holds First-Ever Startup Investors Conclave in UP
150+ Investors and more than 50 start-ups attend amidst a gathering of business stalwarts
Venture Catalysts, India's first and premier incubation platform, recently held a Start-Up Investors Conclave in UP, the first-ever such event being organised in the state.Further putting motion to the ideology of popularising India as a start-up hub, Venture Catalysts Uttar Pradesh was launched at the Conclave.
This was the first such conclave held in the state of UP. It was done in association with MTV Dropout, PeeSafe, Keeros, Naukri Mahakumbh and SMS Group of Institutions.
The region saw for the first time such a massive coming together of industry leaders and stakeholders of the start-up environment. More than 150 Investors from across the country attended the event, with names such as Dheeraj Jain of Redcliffe, Anirudh Damani of Artha India Ventures, Dr. Harsha Vardhan from Med Achievers and Dr Apoorv Ranjan Sharmaj Co-Founder Venture Catalysts distinguishing the gathering.
The conclave helped to bring the spotlight on Uttar Pradesh thriving start-up ecosystem. 50+ start-ups came from UP only, and many investors belonged to the cities of Allahabad, Kanpur, Jhansi, Varanasi and Lucknow.
The conclave was inaugurated by Hon’Ble Shri Brajesh Pathak, Minister for Law and Justice, Additional Energy Resources and Political Pension, Uttar Pradesh. Addressing the conclave Hon'ble Minister said that environment in Uttar Pardesh for such investment and new entrepreneurs is very favourable now with his new government in place. He further assured to extend for all kind of support from him, his ministry, his government and its various other departments for encouraging investors for coming together to develop the state of Uttar Pradesh by investing in its startups and upcoming businesses. He also personally thanked Mr. Vinayak Nath, Co-Founder Venture Catalysts UP for bringing such investors to Uttar Pradesh for helping and developing the new startups and entrepreneurs of the state.
The conclave began with the welcome address of Venture Catalysts Uttar Pradesh Co-Founder, Shri Vinayak Nath. He focused on the emergence of India as a complete start-up destination. In fact, this topic found its resonance in the panel discussion which followed, therned on "Angel investments and its opportunities in Tier-11 and III cities. Attended by panelists such as Dr. Apoorv Sharma and Mr. Vinayak Nath of Vcats and Dheeraj Jain of RedCliffe capital with Kavi Jain of India connect. The conclave’s tone was set by the spirited and insightful discussion.
A Key Note Address was delivered by Mr. Jayant Krishna, ED and COO, NSDC, Government of India. In his address he stated several investing facts and figures about the state to Uttar Pradesh, like its it the 2nd biggest contributor to the National GDP or that its is the 1st in meat and wheat production in the country. He also stated that his team and NSDC with work closely with VCats UP in honing the skills of the young entrepreneurs and youth of UP which will add to further developed skilled manpower in the state.
A Special Address was given by Dr. Akhilesh Mishra, IAS - Special Secretary, IT and Electronics, UP. He mentioned in his address the various modes in which the state government is helping the startup ecosystem and young entrepreneurs by running its own incubator IT Upwan. He also called upon VCats UP and its team to come along and join hands with the government of Uttar Pradesh in developing the startup ecosystem in the state as well as managing its incubator - IT Upwan for the government.
The conclave progressed with several panel discussion from the industry. Start-up pitch sessions and networking events were also organised with major fashion re-commerce platform CoutLoot and fitness center aggregator Growfitter in attendance.
The startup pitches concluded with witnessing Uttar Pradesh's 1st Ever Business Pitch Day which was extremely successful in raising INR 5Cr, with INR 4.5 Cr committed by Venture Catalysts Angels and Japanese Venture Capitalists.
A start-up speed dating session too was organised in the presence of 30+ high potential start-ups from UP and several top notch investors from across India. It proved a brilliant platform of exposure to the entrepreneurs. Being a forerunning investor in the region, it also gave VCats a great viewpoint of the rising business potential of the state capital.
Mr. Vinayak Nath, Co-Founder, VCats UP said, "This event was a landmark conclave that has significantly boosted the start-up environment of Lucknow specifically and UP generally. The healthy participation of UP-based investors as well as start-ups enriched the discussion even more. UP's resources are abundant, and all it needs-is a fostering environment that can help it to nurture and grow stronger, and the conclave was certainly a step towards this direction. It has created a space of open networking and discussions and turned the spotlight of major investors towards the state, and specifically in its major cities like Varanasi, Allahabad, Kanpur, Agra, Meerut, Jhansi and Lucknow.”
The conclave ended with a riveting discussion on the topic 'Tier II and III ecosystem as next destinations of Billion-dollar companies'. The audience listened in rapt attention as the panelists Mr. Anirudh Damani from Artha India Ventures and Dheeraj Jain from Redcliff Capital.
It was a fitting ending to the unique and first-ever start-up conclave, which brought UP and Lucknow to the prominence of international startup community, and attracted Immense attention From the global bigwigs.
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