A panel discussion was also organised to discuss effective strategy for Chinese VCs to enter the Indian startup market and share their experiences about the Indian startup ecosystem.
Eight Indian startups managed to secure funding commitments to the tune of $30 million at the 2nd Startup India Investment Seminar held at Beijing.
New Delhi: Chinese venture capital (VC) funds are likely to invest around $30 million in eight Indian start-ups, the Ministry of Commerce and Industry said after the 2nd Startup India Investment Seminar held in Beijing on Tuesday.
“In the 1st Startup India Investment seminar, 12 Indian start-ups participated, of which 4 secured a funding of $15 million from Chinese VCs. In the current round, 8 start-ups out of 20 participants are set to get commitment of around $30 million,” it said.
The Ministry said the seminar was organised by the Embassy of India in China in partnership with Startup India Association and Venture Gurukool to foster innovation and entrepreneurship among the Indian youth. The first seminar was held in November 2017.
“The event was planned to expose Chinese VCs and investors to the promising Indian start-ups and also help Indian start-ups to reach out to the large Chinese investors for receiving investment for their companies,” the Ministry said in a statement.
42 Indian entrepreneurs representing 20 Indian start-ups participated in the event and pitched before Chinese investors. More than 350 Chinese VC funds and angel investors participated in the day-long seminar, it said.
Industrial and Commercial Bank of China (ICBC) CEO Zheng Bin shared ICBC’s experience in India and gave an overview of the Indian start-up ecosystem and explained the process of investment.
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ICBC India has established a $200 million fund for investing in promising Indian MSMEs and ventures, he said.
Eight Indian startups managed to secure funding commitments to the tune of $ 30 million at the 2nd Startup India Investment Seminar held at Beijing.
The event was planned to expose Chinese venture capitalists and investors to the promising Indian startups and also help Indian startups to reach out to the large Chinese investors for receiving investment for their companies.
“Forty-two Indian entrepreneurs representing 20 Indian startups participated in the event and pitched before Chinese investors to make investments in their ventures. More than 350 Chinese Venture Capital (VC) funds, angel investors participated in a day-long pitching session and seminar,” the Commerce Ministry said in a statement.
The 1st Startup Indian Investment event was organised in November 2017. In the first seminar, 12 Indian startups participated of which 4 secured funding from Chinese VCs of $ 15 million.
Zheng Bin, CEO of ICBC India, shared ICBC’s experience in India, gave an overview of the Indian startup ecosystem and explained the process of investment. He also informed that ICBC India has established a $ 200 million fund for investing in promising Indian MSMEs and ventures.
A panel discussion was also organised to discuss effective strategy for Chinese VCs to enter the Indian startup market and share their experiences about the Indian startup ecosystem.
The event was organised by the Embassy of India in China in partnership with Startup India Association and Venture Gurukool on 12 November for fostering innovation and entrepreneurship among Indian youth.
New Delhi, Nov 13 (UNI) Embassy of India in China in partnership with Startup India Association (SIA) and Venture Gurukool organised second Startup India Investment Seminar on November 12 in Beijing for fostering innovation and entrepreneurship among Indian youth.