Beijing, Nov 7 India today sought investments from Chinese firms in start-ups, projecting the country as an “unrivalled economic opportunity” for them.
Around 20 Indian start-ups and over 100 Chinese investors took part in the “Start-up India” Investment Seminar organised by the Embassy of India here.
Addressing the event, Charge d’Affaires of India in China, Amit Narang highlighted the big jump of 30 places achieved by India in one year in the ‘Ease of Doing Business Ranking’ released by World Bank recently.
He called on Chinese investors to look at India as an unrivalled economic opportunity and urged Indian start-ups to also look eastwards towards China not just for capital, but for innovation and experience-sharing to realise future
Young Indian entrepreneurs heading the start-ups also made a strong pitch for Chinese investments in their fledgling firms.
Speaking on ‘Why Invest in India’, Benny Chen, CEO, Managing Director India and Global Strategic Alliance, Ant Financial of Alibaba said that he remains bullish on the explosive growth in mobile and internet penetration in India and appraised the various initiatives taken by the Government of India to stimulate faster growth.
During the meet, Mahendra Swarup, president, Start-up India Association spoke about Chinese investments in Indian ventures and introduced the various start-ups from India that participated in the event.
Two panel discussions on ‘Strategy for Investing in India- Experience Sharing by Successful Investors’ and ‘Experience Sharing on the Scaling-Up of Chinese Ventures’ were organised as part of the event.
Chinese investors including Benny, Shirley Mao, Vice Director, Xiaomi Investment and others took part in the event.
The event is expected to generate more in-depth B2B discussions among Indian start-ups and Chinese investors which will hopefully lead to productive business ventures and Chinese investments in Indian start-ups, a statement said.
India asked Chinese firms to invest in start-ups and asked the Indians to look eastwards towards China not just for capital, but for innovation and experience-sharing.
India sought investments on Tuesday from Chinese firms in start-ups, projecting the country as an “unrivalled economic opportunity” for them.
Around 20 Indian start-ups and over 100 Chinese investors took part in the Start-up India Investment Seminar organised by the Embassy of India in Beijing.
Addressing the event, Charge d’Affaires of India in China, Amit Narang highlighted the big jump of 30 places achieved by India in one year in the Ease of Doing Business Ranking released by the World Bank recently.
He called on Chinese investors to look at India as an unrivalled economic opportunity and urged Indian start-ups to also look eastwards towards China not just for capital, but for innovation and experience-sharing to realise future
Young Indian entrepreneurs heading the start-ups also made a strong pitch for Chinese investments in their fledgling firms.
Speaking on ‘Why Invest in India’, Benny Chen, CEO, managing director India and Global Strategic Alliance, Ant Financial of Alibaba, said he remains bullish on the explosive growth in mobile and internet penetration in India and appraised the various initiatives taken by the government of India to stimulate faster growth.
Overwhelming Response on Day 1 of the Indian Start-up Investment Roadshow which was co hosted by the Indian Embassy, Beijing.
Venture Gurukool and Startup India Association organized Day 1 of the Indian Startup Investment Roadshow which gave exclusive access to Indian entrepreneurs with prolific Chinese Investors. This event brought together 25 Indian start-up entrepreneurs and more than 170 Chinese investors under one roof at the auditorium of the Embassy of India, Beijing.
Welcome remarks were given by Ms Ntasha (Co-Founder, Venture Gurukool).
Mr. Mahendra Swarup (Founder, Venture Gurukool and President, Start-up India Association) spoke about Chinese Investments in Indian ventures and introduced the various startups from India that participated in the event.
Mr. Benny Chen (General Manager, Ant Financial India) delivered the key-note address on “Why Invest in India”.
This was followed by a panel discussion on ‘Strategy for Investing in India- Experience Sharing by Successful Investors’. The panel included (L to R) Mr. Qi Zhiyong (President, CAMCE Investment Management), Ms. Jessica Wong (Founder and Managing Partner, Cyber Carrier), Mr Benny Chen (General Manager, Ant Financial India) and Ms Shirley Mao (Vice Director, Xiaomi Investment) [Photo: L to R] . The session was moderated by Mr Mahendra Swarup (Founder, Venture Gurukool and President, Start-up India Association).
Another panel discussion was organised on ‘Experience Sharing on scaling of Chinese Ventures’. This panel included (L to R) Ms Liu Xinyi (Founder and CEO, Nowdo), Ms Jenny Zhang (Vice President and Chief Brand Officer, Beijing V-Startup-up), Mr Andy Mok (Managing Partner, Red Pagoda Resources), Mr. Zhang Peng (Chief Strategy officer & Managing Partner Urwork), . The session was moderated by Mr. Jelte Ansgar Wingender (Senior Manager, Global Incubation Services Department Innoway) and Mr Siddharth Shah (Partner, Khaitan and Company, India).
The event also had representatives of Invest India, KPMG India and Khaitan & Co. who gave presentations on ‘The Economic and Investment Landscape in India’, ‘The India growth story and rise of Indian Entrepreneurs’ and ‘regulatory landscape and investment structure in India’, respectively.
Post the successful roadshow organised by Venture Gurukool in the first week of November in Beijing, Venture Gurukool’s portfolio company Olly Credit, a fintech startup based out of New Delhi that offers micro credit cards, has raised an undisclosed amount of funding its latest pre-Series A round from a significant strategic Chinese investor.
Olly had raised an undisclosed amount of funding in a previous seed round led by Incubate Fund; Mahendra Swarup, a prolific angel investor and President, Start-up India Association and former Kotak Mahindra Asset Management Company CEO Sandesh Kirkire.
Olly Credit was founded in 2015 by Ashwin Bhambri, Ringaile Noq and Anand Kumar, It is a mobile-first platform that offers micro credit card with a dynamic credit limit of $307.4 (INR 20,000). The startup caters primarily to young blue-collar professionals with a minimum monthly salary of $169 (INR 11,000).
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