Shanghai, Day 3
After an enthralling experience in Beijing, Phase II of 2nd Startup India Investment Seminar 2018 moved to the Business Capital of China, Shanghai. Venture Gurukool hosted the Seminar with the Indian Consulate, Shanghai and Startup India Association (SIA) as partners.
20 Indian startups, namely Tripshelf (travel), OfficePass (Rental Solution), Snapmint (shopping/marketing), Sattviko (Food), Roar Media (Media), Roadpiper (logistics), Numbermall (e-commerce), NirogStreet, (Ayurveda), Moengage (marketing), log9 Materials (new energy vehicle), Eremedium (health-education), HomeCapital (housing finance), HalaPlay (online gaming), Grabonrent (rental solutions), Golive Games (online gaming), Eshopbox (e-commerce), Confirmtkt (travel), Ambee (environment), Scholr (education), Bisbo (media) – participated in the event and presented their venture to over 100 strategic Chinese investors to make investments in their ventures. The event saw an audience representing Chinese Venture Capital (VC) funds and angel investors participating in the pitch session and seminar.
Investment firms like Legend Capital, Sinovation Ventures, Gobi Ventures and Grand View Capital showed a keen interest in the Indian Start-ups.
Mr. Anil Kumar Rai, Indian Consul General in his welcome address spoke about the India China developing ties. The Indian technology start-up domain is among the biggest in the world with over US$ 35 billion valuations. Last few years saw an emergence of several thousand start-ups in India, the rise of unicorn start-ups and growth of segment leaders in categories like robotics, analytics, ed-tech, health-tech, legal-tech, and fin-tech. The exchange between the two nations will help towards an extended growth of the sector.
Chinaccelerator Managing Director, Mr. William Bao Bean spoke about the investment opportunities in India and China, and SOSV’s investment experience in the Indian start-up ecosystem. Mr. Pan Song, founding partner, Qi Goal Capital discussed his India experience and the opportunities within the start-ups in India.
The event focussed towards exposing Chinese VCs and investors to the promising Indian startups and helping Indian startups to reach out to the huge Chinese investor’s community for receiving investment for the growth of their companies. In the 1st Startup India Investment seminar, 12 Indian startups participated out of which 4 secured funding from the Chinese VCs to the tune of US$15 million.
Shanghai, Day 4
The enlightening and intriguing visit for the Indian start-up delegation concluded with an exclusive meeting organized at the Fosun Group Headquarters in Shanghai.
The Fosun Group is a Chinese international conglomerate and investment company. Fosun engages in financial, property, steel, and healthcare businesses. Along with, investment in the strategy, private equity investment, venture capital investment, and secondary market investment. Through technology and innovation, Fosun creates customer-to-maker (C2M) ecosystems in health, happiness and wealth by providing high-quality products and services for families around the world.
At Fosun, startups met Mr. Andy Zheng from Fosun RZ Capital who gave his insights towards the growing interest of Chinese investors in Indian Start-ups, specifically on what the Chinese investors look for. Investors in China look for Indian counterpart for successful ventures in China, he stressed that investors look for high performing teams and localization in Indian ventures mirroring China. He also spoke at length about: fintech, travel tech, property tech, media, education, and healthtech sectors and talked about Fosun RZ’s portfolio companies in India.
The educative corporate visit gave a chance to the entrepreneurs to build an understanding of the Chinese workspace, promote communication and set up networking relations with corporate leaders in China. The experience altogether will indeed have an everlasting impact on the amount of knowledge, skill and experience share for the choicest entrepreneurs from India.
The entire visit accounted for a unique experience with the Chinese industry experts and market leaders. The rise of the Indian Startup Ecosystem is momentous and holds a tremendous amount of opportunities. We, at Venture Gurukool understand our responsibility as an incubator and an early stage investors to build our Startup community by nurturing new ventures and encouraging the vision of young entrepreneurs. Thus, we engage in holding such crossborder interactions between investors and entrepreneurs to bring together a vibrant startup ecosystem in India.
Beijing, Day 1
Furthering Government of India’s agenda of fostering innovation and entrepreneurship among Indian youth, Venture Gurukool organized The 2nd Startup India Investment Seminar on 12 November 2018 in Beijing in partnership with The Embassy of India in China and Startup India Association (SIA). The 1st Startup India Investment event was organized in November 2017.
42 Indian entrepreneurs representing 20 Indian startups, namely Tripshelf (travel), OfficePass (Rental Solution), Snapmint (shopping/marketing), Sattviko (Food), Roar Media (Media), Roadpiper (logistics), Numbermall (e-commerce), NirogStreet, (Ayurveda), Moengage (marketing), log9 Materials (new energy vehicle), Eremedium (health-education), HomeCapital (housing finance), HalaPlay (online gaming), Grabonrent (rental solutions), Golive Games (online gaming), Eshopbox (e-commerce), Confirmtkt (travel), Ambee (environment), Scholr (education), Bisbo (media) – participated in the event and made pitch before Chinese investors to make investments in their ventures.
The event witnessed a 400+ audience, mostly representing Chinese Venture Capital (VC) funds and angel investors participating in the day-long pitching session and seminar.
Delivering special remarks Mr. Acquino Vimal, Deputy Chief of Mission, Indian Embassy made the case for India’s young demography, rapid economic growth & fast pace urbanization as the opportunity for growth of Indian ventures and startup ecosystem, as well as provide the opportunity for offering unique, innovative, and affordable solutions for the growing aspirational people. He mentioned that Chinese investors should take part in the development process of India growth story through investing in Indian start-ups.
Mr. Prashant Lokhande, Counsellor (Economic and Commerce), Indian Embassy Beijing, welcomed the audience and thanked Venture Gurukool and Startup India Association for organizing the event.
Mr. Zheng Bin, CEO of ICBC India shared ICBC’s experience in India, gave an overview of the Indian startup ecosystem and how to invest in it. He also informed that ICBC India has established a US$200 million fund for investing in India. Mr. Kartick Maheshwari of Khaitan & Co. gave a presentation on the regulatory framework in India.
During the seminar, a report “India – China: Startups & Beyond” jointly published by Venture Gurukool and KPMG giving a detailed account of the Indian startup ecosystem, was unveiled. The report echoed the thought saying that apart from Chinese corporations, venture capital funds from China are also planning to make a mark in the Indian startup ecosystem across sectors such as finance and education technology, e-commerce and content.
“Several firms including Qiming Ventures, Morningside Ventures, CDH Investments, 01VC, and Orchid Asia Group are already looking to buy stakes in startups in India since the beginning of 2018,” the report added.
To discuss effective strategy for Chinese VCs to enter Indian startup market and share experience of VCs about the Indian startup ecosystem, a panel discussion was organised, involving Mr Ashish Wadhwani (Ivy Cap Ventures), Mr Pei- Fu Hsieh (01 VC), Mr. Pan Song (QiGoal Capital) and Mr. Mahendra Swarup (SIA) as panelists and moderated by Mr. Gurpreet Singh (ATM Ventures).
The event was planned to expose Chinese VCs and investors to promising Indian startups on one hand while on other hand helping Indian startups to reach out to the huge Chinese investor’s community for receiving investment for the growth of their companies. In the 1st Startup India Investment seminar, 12 Indian startups participated out of which 4 secured funding from the Chinese VCs to the tune of US$15 million.
Beijing, Day 2
The 2nd Startup India Investment Seminar 2018 is organized by Venture Gurukool to accelerate the Investors Entrepreneur relationships between India and China.
To promote Chinese industry experience and know-how amongst our participating start-ups, Venture Gurukool organized exclusive company visits with the major Chinese giants including Tencent– the multinational conglomerate and leading gaming publishers of the world. Followed by, Oasis Games– one of the leading game publishers in the market.
Company visit and meetings were also hosted for the Indian Entrepreneur delegation with:
The educative sessions focus on building an understanding of the Chinese workspace, promote communication between representatives from both the countries and establish networking relations with corporate leaders from major firms in China and emerging start-up entrepreneurs from India.
We hold such events and sharing activities between investors and startups to connect them and bring together in the vibrant ecosystem for startups in India.
Venture Gurukool, in India, works towards developing an India-China hub that creates, encourages and promotes knowledge and innovation between founders and investors based in India and China. We aim towards building a community which fosters the spirit of entrepreneurship and improves the success for an early-stage company.
Facilitating developments towards India-China exchange and cooperation, Venture Gurukool along with Business World, hosted an exclusive meeting with Mr. Lyu Yansong, Vice Minister & Editor in Chief, People’s daily.
The People’s daily is the largest and most influential newspaper in China with a daily circulation of over 3.2 million. It is the biggest newspaper group & official newspaper of the Chinese Communist Party.
Along with Mr. Yansong were his delegation of Senior Media Professionals, Mr.Wu Weizheng, Mr. Yuan Jirong, Mr.Su Chao, Ms. Wang Yuezhou and Ms. Wen Hongyan representing People’s Daily.
The event focussed on establishing relations with the Chinese media groups and attract investments in print media other than digital content platforms. Mr. Annurag Batra, Chairman & Chief Editor, Business World, presented the welcome address. He expressed views on India’s existent dependency on print media through the years. The large presence here is against the western trends of highly digitized news content implies that honesty and credibility of the newspaper are still very high in India.
Mr.Yansong quoted President Xi Jinping,”When India and China will speak and cooperate together, the world will listen.” The population and huge market presence are similar in both countries. As per Mr. Yansong, media houses of India and China should promote this to strengthen their ties. The newspaper culture in Indian market is different from China’s preference of mobile applications for digital news content.
The People’s Daily app has over 250 Million downloads, their micro blog attracts 100 Million followers and their presence on WeChat accounts for about 20 Million users, making it the dominant media group of China.
The platform is open for international cooperation and tie-ups for content sharing in a more customized way and for better news articles.
Mr.Mahendra Swarup, Founder, Venture Gurukool highlighted the investments made into the Indian digital sector by the Chinese investors, lately. The digital media in India is still on its growth path while print still exists as the most preferred model for a lot of Indian languages. Mr.Swarup expressed his views on investments towards the much more credible print media.
Mr.Manish Tewari, Former Minister of Information and Broadcasting & Member of Parliament, discussed China’s vibrant media market and their breath-taking perspective. China’s influence over other Asian countries to bring the onset of cutting-edge technological advances and innovation from western counterparts. Agreeing to the above statements, Mr. Alok Mehta, Padma Shri Awardee, Ex-President and Secretary General of Editors Guild of India, promoted interest towards ventures in digital media and the high scale scope of digitized content in the market.
Also, present at the event were prominent personalities of the Indian media industry such as Mr.Praveen Someshwar, CEO & Managing Director, Hindustan Times, Mr. Himanshu Gautam, Business Head, Amar Ujala, and Mr. Amit Goel, Vice Chairman, The Pioneer.
There is a lot for India to learn from China, thus, hosting such exclusive meet-ups with industry leaders results constructively for our aim to aid media tie-ups and developments between the two nations. Venture Gurukool constantly strives to promote Indo China innovation hub helping towards fostering a more holistic ecosystem.
CGI Shanghai in partnership with Startup India Association (SIA) and Venture Gurukool organised a Startup India Investment Seminar in Shanghai. 42 Indian entrepreneurs representing 20 Indian startups from diverse sectors like; e-commerce, online gaming, new energy vehicles, logistics, media, environment, health-education, Ayurveda, housing finance etc, participated in the event and made pitch before Chinese investors to make investments in their ventures. More than 100 audience, mostly representing Chinese Venture Capital (VC) funds, angel investors participated in a day long pitching session and seminar.
印度驻沪总领事馆与印度初创企业协会和Venture Gurukool一同在上海举办印度初创企业投资峰会。来自不同行业的42为印度企业家代表20家印度初创企业前来参会，邀请中国投资者前来投资，行业包括电子商务、网络游戏、新能源汽车、物流、媒体、环境、健康教育、阿育吠陀、住房信贷等等。逾百名来自中国风投基金、天使投资的代表参加了此次为期一天的投资峰会。
Indian technology start-up domain, it is among the biggest in the world with valuation of over US$ 35 billion. Last few years saw emergence of several thousand start-ups in India, rise of unicorn start-ups and growth of segment leaders in categories like robotics, analytics, edu-tech, health-tech, legal-tech and fin-tech. They not only created value for their investors but immensely contributed in solving challenges faced by grass root level Indian industries like healthcare, education, finance, energy and agriculture; which positively impacted millions of lives in India.
印度技术创业领域， 是世界上最大的之一，估值超过350亿美元。最近几年，印度出现了数千家初创企业，独角兽初创企业不断崛起，机器人、分析、教育技术、医疗技术、法律技术和金融科技等领域的细分领导者也在增长。它们不仅为投资者创造了价值，而且极大地帮助解决了基层印度产业所面临的挑战，如医疗保健、教育、金融、能源和农业；这对印度数百万人的生活产生了积极影响。
The success story of China is not only about the speed and scale at which the things has been done but also about the unique and innovative financing models; business processes and procedures which made possible the Chinese growth story sustainable over such a long period of time; and most importantly; transforming China from an agricultural to industrial and now towards knowledge driven economy. The Indian startup companies also took valuable lessons from the experiences and knowledge of scaling up from the Chinese companies.
中国的成功故事不仅涉及其发展的速度和规模，还涉及独特和创新的融资模式以及业务流程和程序，使中国能够在这么长的时间内保持可持续发展；最重要的是将中国从农业转变为工业化，现在更是转变为知识型经济。在场的印度创业公司不仅寻求中国的投资，而且还热衷于了解和学习中国企业丰富的经验。
Beijing and Shanghai events witness spirited pitches for mainland backing
Some 20-odd Indian startups made a concerted pitch for $100 million in Chinese investments in Beijing on Monday and in Shanghai on Thursday.
The events intensified the push to leverage China’s expertise in founding, nurturing and financially backing new enterprises that fulfill society’s needs.
Around 200 Chinese strategic funds and angel investors interacted with executives of Indian startups, and evaluated investment opportunities, said Mahendra Swarup, leader of the visiting delegation and founder of Venture Gurukool, an early-stage investor and organizer of networking events for startups.
Around $30 million in investment deals will likely have been sewn up, he said.
At the Beijing event, Zheng Bin, CEO of the Mumbai, India branch of ICBC, said China’s largest lender has set up a $200 million fund to back local startups.
Indian startups are engaged in fields where Chinese firms boast expertise: internet-based business, artificial intelligence, big data, robotics and automation, fintech, health, environment, e-learning, agri-tech, consumer goods and entertainment, including non-addictive gaming.
Indian startups that are wooing Chinese investors are at various stages of evolution, spanning inception to annual revenues of $5 million.
In discussions at the event, the Indian side emphasized that the time is right for bilateral startup-related collaboration. Chinese startups are seeking to expand overseas, and Chinese investors are eyeing stable and growing large markets that could generate healthy returns on investments.
Speakers and participants said India provides a near-perfect fit, in terms of proximity, massive scale, common cultural elements, the fast-evolving mobile internet sphere and the needs of the society.
Successful Chinese startups could replicate their technologies and grow rapidly, provided they adapt to specific local factors, conduct proper due diligence and avoid the temptation to transplant the Chinese business model in India.
Also, 100 percent foreign direct investment is allowed in India’s emerging sectors, which makes the market more attractive than Europe and the United States for Chinese investors, they said.
Peifu Hsieh, partner at 01VC, a Shanghai-based venture capital firm that has invested in India, said, Indian startups are “good” with “strong teams” targeting huge markets.
“I’m very optimistic about the overall ecosystem. I feel the quality and caliber of Indian founders are solid and the market potential seems comparable to that of China.”
Wang Zibing, founder of health startup Beijing Yingwei Technology, agreed.
“I have never been to India, so my knowledge of India is based on online content and movies. After meeting Indian entrepreneurs, I sense China and India share several common themes and have potential synergies. Indian startups are bubbling with ideas and their technologies seem cutting-edge. I’ve shortlisted an e-commerce app and an Indian traditional medicine (Ayurveda) app for investment.”
Kiran Gali, founder and CEO of Number Mall, an Indian startup with an app that helps neighborhood grocers to automate their logistics, said: “Although India has financial capital, most local venture capital funds have Western parents whose focus is only on certain sectors. Chinese funds’ expertise would prove useful, given that India is where China was 10 years back, in the context of startups.
“Unlike risk-averse Indian investors, their Chinese counterparts appear to sense that many Indian unicorns are in the making. That’s why they don’t want to miss out on investment opportunities.”
Ravi of GoLive Games Studios concurred: “Gaming firms in China are plateauing because of local regulations. In India, gaming is a sunrise industry marked by tremendous growth potential and a friendlier regulatory environment. Hence, Chinese gaming firms are keen to expand to India.”
Thaiseer, China market head of Steel Giant, a commodities trader that imports ores into China and exports products to the Middle East, said the firm is seeking to diversify and might fund a city-centric weather forecast app and a truck ride-sharing logistics app.
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