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Kolkata’s BCC&I ties with China Development Bank-backed PE Fund Infinity to boost Startups in W.Bengal

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Kolkata's BCC&I ties with China Development Bank-backed PE Fund Infinity to boost Startups in W.Bengal

Kolkata, West Bengal-based Bengal Chamber of Commerce and Industry (BCC&I) has signed an MoU with the Infinity Group, a private equity fund backed by China Development Bank, to boost the technology and startup ecosystem in West Bengal, as 53% of startups in the state are in incubation stage, reported Business Standard.

As per the signed MoU, Companies in IT & Technology, Startup ventures and International Trade delegates referred by BCC&I, can utilize and leverage state of art facilities of Infinity Business Centre for co-working offices, meeting rooms, conference rooms, training rooms at special rates for a mutually specified time agreed upon.

Indrajit Sen, president of the Bengal Chamber, said, “The objective is to encourage entrepreneurship and facilitate deserving potential entrepreneurs a platform to initiate Start Ups which would be a contribution to the Tech Start Up Movement of the State.”

Headquartered in Tel Aviv, Infinity has its offices in Beijing and over 16 other location. The firm focuses on investing in companies based in China, Israel and North America within the information technology, communications, life sciences, healthcare devices, healthcare services, biotechnology, agriculture, agritech, materials, manufacturing, energy, clean-tech, internet, gaming, semiconductors and wireless technologies sectors.

Established in 1853, BCC&I also arranged a special Japan hour to collaborate with that country with special focus on start-ups called the “Indo-Japan Start-up Hub”.

Established by the agreements of the governments and activities of Japan External Trade Organization (JETRO), the Indo Japan Start-up Hub at Bengaluru started its operations in May 2018.

The partnership is expected to bring unique and quality products and solutions built jointly between India and Japan at global stage, Sen said.

Besides making special connect with JETRO in facilitating technology-focused business-to-busineses connects, BCC&I is also in discussion with JETRO for collaborations on Webel-BCC&I Tech Incubation Centre to extend enabling ecosystem to incubates, said Arnab Basu, Chairperson, IT Committee, The Bengal Chamber.

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Suman Chaudhary
An engineer by education and writer by profession, Suman keeps tab on startup ecosystem of India and leads the research team of IndiaWeb2 for covering funding deals, merger & acquisition and market reports.

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