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The IIM-Ahmedabad’s technology business incubator, Centre for Innovation, Incubation and Entrepreneurshop (CIIE), on Monday announced a tie-up with The Indus Entrepreneurs (TiE) and Veridian Group to bring forward investment-ready start-ups for those looking to diversify their portfolio.
On June 25, these start-ups will pitch to the panel of investors at CIIE-IIM-A, according to a CIIE statement here.
With Indian start-ups competing with traditional businesses, investment in start-ups is getting added focus. In 2015 so far, 41 start-ups have already been bought as compared to 43 of 2014. According to a NASSCOM Start-up Landscape Report 2014, in 2013, around 300 start-ups in India raised funds from venture capitalists, including 8 from Gujarat.
Ahmedabad has been identified as one of the five upcoming start-up hub by NASSCOM Start-up Landscape Report 2014. Khushalee Vakil, Senior Manager, CIIE, said a Gujarat-focused accelerator has been launched in collaboration with SAP, for which applications will open next month. “There is no reason why the next Flipkart shouldn’t come from Gujarat”.
Ritam, founder of the Ahmedabad-based location start-up wWhere, which recently raised Rs. 1.2 crore from international investors, said a lot of potential for local investment activity existed.
The CIIE helps India's budding entrepreneurs set up innovative, disruptive and scalable ventures through mentoring, incubation, advising and funding initiatives and also engages in research into industry trends and best practices through its networks, connections and partnerships with the IIM-A community, mentors, investors and other crucial stakeholders in the entrepreneurial ecosystem of India and abroad.
TiE, founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region, currently had 13,000 members, including over 2,500 charter members in 61 chapters across 18 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, education, incubating, and funding.
Veridian Partners acquires, remediates, repositions and manages risk, with the intent of selling or redeveloping surplus, distressed properties within highly constrained urban markets.
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