​2nd Startup India Investment Seminar held in Beijing

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Advancing Indian government's agenda of fostering innovation and entrepreneurship among Indian youth, Embassy of India in China, together with Startup India Association (SIA) and Venture Gurukool organized the Second Startup India Investment Seminar on November 12 in Beijing. The First Startup India Investment event was held in November 2017.

Prashant Lokhande, Indian counsellor of Economic and Commerce, welcomed the audience and thanked SIA, Venture Gurukool, Zhunguancun Private Equity & Venture Capital Association (ZVCA) and Beluga Global for their support for organizing the event. Jason Wang, president of ZVCA and Joanna Hao of Beluga Global appealed the Chinese VCs for greater exchanges between Indian and Chinese startup ecosystems. Delivering special remarks, Acqino Vimal, deputy chief of Mission made an argument that India's young demography, rapid economic growth and fast pace urbanization and its challenges work as hotbed for growth of Indian entrepreneurs and startup ecosystem, as well as provide them opportunity for offering unique, innovative, and affordable solutions for these challenges. He mentioned that Chinese investors should take part in the development process of India growth story through investing in Indian startups. Zheng Bin, CEO of ICBC India shared ICBC's experience in India, gave an overview of Indian startup ecosystem and how to invest in it. He also informed that ICBC India has established a US$200 million fund for investing in promising Indian MSMEs and ventures. Kartick Maheshwari of Khetan & Co. gave a presentation on regulatory framework in India.

During the seminar, a report titled "India – China: Startups & Beyond" was unveiled. The report which was made by KPMG gives detailed account of Indian startup ecosystem and why it is right place for making venture investments. To discuss effective strategy for Chinese VCs to enter Indian startup market and share experience of VCs about the Indian startup ecosystem, a panel discussion was also organized.

The event was planned to expose Chinese VCs and investors to the promising Indian startups on one hand while on other hand helping Indian startups to reach out to the huge Chinese investors community for receiving investment for growth of their companies. In the 1st Startup India Investment Seminar, 12 Indian startups participated out of which four secured funding from the Chinese VCs to the tune of US$15million. In the current round, about seven or eight startups out of 20 participants may get commitment to the tune of US$30 million.

A total of 42 Indian entrepreneurs representing 20 Indian startups and more than 350 audience participated in the event.

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