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Press Release: 2nd Startup India Investment Seminar, Beijing

Furthering Government of India’s agenda of fostering innovation and entrepreneurship among Indian youth, Embassy of India in China, in partnership with Startup India Association (SIA) and Venture Gurukool organised 2nd Startup India Investment Seminar on 12 November 2018 in Beijing. The 1st Startup India Investment event was organised in November 2017.

42 Indian entrepreneurs representing 20 Indian startups, namely Indian startups Tripshelf (travel), OfficePass (Rental Solution), Snapmint (shopping/merketing), Sattviko (Food), Roar Media (Media), Roadpiper (logistics), Numbermall (ecommerce), 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. More than 350 audience, mostly representing Chinese Venture Capital (VC) funds, angel investors participated in a day long pitching session and seminar.

Mr Prashant Lokhande, Counsellor (Economic and Commerce) welcomed the audience and thanked SIA, Venture Gurukool, Zhunguancun Private Equity & Venture Capital Association (ZVCA) and Beluga Global for their support for organising the event. Mr Jason Wang, President ZVCA and Ms Joanna Hao of Beluga Global appealed the Chinese VCs for greater exchanges between Indian and Chinese startup ecosystems. Delivering special remarks Mr Acqino Vimal, Deputy Chief of Mission made an argument that India’s young demography, rapid economic growth & fast pace urbanisation & its challenges work as hotbed for growth of Indian entrepreneurs and startup ecosystem, as well as provide them opportunity for offering unique, innovative, and affordable solutions for these challenges. He mentioned that Chinese investors should take part in the development process of India growth story through investing in Indian startups. Mr Zheng Bin, CEO of ICBC India shared ICBC’s experience in India, gave an overview of 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 promising Indian MSMEs and ventures. Mr Kartick Maheshwari of Khetan & Co. gave a presentation on regulatory framework in India.

During the seminar, a report “India – China: Startups & Beyond” by KPMG giving detailed account of Indian startup ecosystem and why it is right place for making venture investments, was unveiled. 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 panellists and moderated by Mr. Gurpreet Singh (ATM Ventures).

The event was planned to expose Chinese VCs and investors to the promising Indian startups on one hand while on other hand helping Indian startups to reach out to the huge Chinese investors community for receiving investment for 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$15 million. In the current round, 7-8 startups out of 20 participants may get commitment to the tune of US$ 30 million.

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