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LetsVenture, anearly-stage investment platform, has partnered withMeitY Startup Hub, which hasbeen established as an initiative of the Ministry of Electronics and Information Technology (MeitY).
LetsVenture and MeitY Startup Hub intend to launch an Acceleration Program for upskilling MSH Startups and boost investments in startups.MeitY Startup Hub and LetsVenture willalsolaunch a sustainable and scalable programme to build the angel investor ecosystem in India by creating workshops and training programmes to attract traditional business people to become startup investors. LetsVenture plans to provide access tothe global market through its affiliates.
As part of this partnership,LetsVenture will also allow access to MeitY Startup Hub to facilitate the management of cap table, create and roll out ESOPs and facilitate ESOP liquidity for startups throughtrica equity, whichis anESOP and cap table management platform from Letsventure. In addition to this,LetsVenture willalsopopularise the MeitY Startup Hub Gurukul programme to enable investors to become mentors in the programme.
MeitY Startup Hub acts as a hub and ensures synergies among all the incubation centers,Centres of Excellence on Emerging Technologies, and other existing platforms, supported by theMinistry of Electronics and Information Technology. In addition to this, theStartup Hub aims to promote technology innovation, start-ups, and the creation of intellectual properties for the purpose of strengthening the Indianstartup ecosystem.
Commenting on the partnership, Shanti Mohan, Co-founderandCEO, LetsVenturesaid,“2021 has been pivotal for startups and investments in India. With 50per centof Indian unicornstartups created this year alone, India is well poised to be the global epicenter for startups andtechnology innovation as one of the world’s largest startup ecosystems. To power this change,various playersneed to come together to collaborate, support, and accelerate this growth engine. Our partnership with MeitY Startup Hub is a step in this direction. We are hopeful thatthis partnership willspurthe next wave of leading global tech companies built in India andcatering to the global markets.”
Adding to this,Dr. AK Garg, Senior Director, MeitYsaid,“The IndianStartup ecosystem that witnessed anavalancheof unicorns and IPOs this year, has placed India firmly on the global innovation map. This collaboration is envisaged to act as a catalyst toaccelerate the growth of the technology startup ecosystem by streamlining the funding andinvestment landscape by leaps and bounds in due course.”
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