During the second edition, 20 startups met fund managers and presented several pitches to raise capital, building a strong case for investment in their respective companies.
After successfully hosting the first edition in Lucknow, Small Industries Development Bank of India (SIDBI), a principal financial institution engaged in promotion, financing and development of MSMEs, held its second edition of Investor’s Day in Bengaluru recently with an aim to strengthen the startup ecosystem and also give it the required funding impetus.
During the second edition, 20 startups met fund managers and presented several pitches to raise capital, building a strong case for investment in their respective companies. These 20 startups were selected from 200 applications.
The Investor’s Day also saw keynote addresses from various stakeholders and eminent dignitaries such as Vani Kola, Founder& MD, Kalari Capital throwing light on the present and future of the startup ecosystem, funding for startups and how they can foster, given the right capital push.
During his keynote address, Mohammad Mustafa, IAS, CMD, SIDBI said the startup space was undergoing two major issues- absence of innovation and middle-stage funding. In his address, he said the event was a platform for startups to present their ideas before Alternative Investment Funds (AIFs).
“We are trying to create a platform where they (startups) can come talk to you (investors), gather experience, network with you, learn how to raise money, what are the next steps and more. We are trying to create a permanent platform that we will host every quarter where startups that are meritorious and deserve a chance to be seriously seen. This is a great opportunity where startups can be assessed by top funds,” he said.
Meanwhile, various startup owners across different categories such as food & agri-processing, clean technology, solar energy, media, automation & IT solutions and financial services made their presentations and addressed their key requirements.
A total of 85 Expressions of Interest (EoI) were shown by 27 fund managers with the best startups getting 12 EoIs. All the startups received at least one EoI while the best 6 startups were felicitated by Shri Mohammad Mustafa, IAS, Chairman and Managing Director of SIDBI, by way of a trophy and a certificate of excellence.
It is noteworthy that SIDBI, which was formed in 1990, has been supporting startups and MSMEs through various credit and developmental engagements.
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