Reaffirming its commitment to support Startups countrywide including East India, Indian Angel Network (IAN) has announced a strategic partnership with Neotec Hub, an incubator started by Kolkata based corporate house – Ambuja Neotia, bringing innovative entrepreneurs, angel investors and corporates together on a single platform.
Kolkata is a little nascent in the development of the startup ecosystem but that exactly is the opportunity for innovative companies to start and create high growth companies. The city breeds high-quality talent which is critical for a robust startup ecosystem to breed.
With Neotec breeding innovation in the ever-emerging startup ecosystem, IAN would help fine tune their business strategy, provide mentorships as well as help them access to funds through IAN’s group of more than 450 angel investors.
Commenting on the partnership, Padmaja Ruparel, Co-founder, IAN said, “The IAN – Neotec partnership will provide a huge impetus to the startup ecosystem in the entire Eastern Region and we should see many innovative ventures. We are really excited to bring the IAN platform along with the IAN Fund to entrepreneurs who can raise from Rs. 25 lakhs to Rs. 50 crores off a single platform.”
Indian Angel Network has been instrumental in shaping India’s entrepreneurial landscape and has played a key role in incubating startups around the globe and support them through the entire journey from ideation to becoming enterprises and even after that. By collaborating with IAN, Neotech hub brings in a high-quality infrastructure accessible in the buzzing entrepreneur space of the city and empowering young entrepreneurs to access IAN’s global mentoring pool and leverage its market reach.
“Lately, I have seen a lot of interest from the government towards the development of startups in the country. While there are incubator support in cities such as Hyderabad and Bangalore, in Calcutta it was yet to happen in a major way. With IAN joining hands with us, our aim is to create and offer a platform for the startups which not only encourages and promotes innovation but also give them the necessary hand-holding to grow,” said Harshavardhan Neotia, Chairman Ambuja Neotia.
The strategic partnership will bring in the power of IAN’s network of highly successful and experienced entrepreneurs who are keen to mentor young startups with their domain expertise and experience in alignment with Neotec Hub’s One Year Incubation Program –which includes access to their existing businesses, Mentorship, Funding, Space and Infrastructure which will be made to available to the maximum number of Startups.
Earlier in August 2017, IAN has announced the signing of a MoU with Biotechnology Industry Research Assistance Council (BIRAC). This partnership brings the biotechnology startups closer to angel investors, who apart from money will provide invaluable mentoring and global market access. In June 2017, the firm has announced the launch of its operations in Israel.
Established in 2006 to foster entrepreneurship with a prime focus on nurturing and mentoring new generation entrepreneurs, IAN brought the concept of angel investment to India and has been instrumental in bringing India’s startup ecosystem on the global map. With investors from 10 countries, IAN’s presence spans 7 locations, which includes cities in India and UK. The network is sector agnostic and has funded startups across 17 sectors in India and 6 other countries growing global footprint companies.Some of its marquee investee companies include WebEngage (6x in 15 months of investment), Druva (289x over 7 years), Box8 (~3x over 4 years), Consure (10x over 40 months) amongst many others. Most mainstream Indian VCs (like Sequoia, Nexus, Matrix Partners, Tenaya, IDG, Kalaari, USF, Accel, Inventus) have done a follow on round in IAN’s portfolio companies or co-invested with it.
Some of its marquee investee companies include WebEngage (6x in 15 months of investment), Druva (289x over 7 years), Box8 (~3x over 4 years), Consure (10x over 40 months) amongst many others. Most mainstream Indian VCs (like Sequoia, Nexus, Matrix Partners, Tenaya, IDG, Kalaari, USF, Accel, Inventus) have done a follow on round in IAN’s portfolio companies or co-invested with it.