November 12, 2018
The event was attended by 42 entrepreneurs representing 20 Indian startups that pitched before Chinese investors for investments in their ventures
At the 1st Startup India seminar last year, 12 Indian startups had participated, out of which four secured funding from Chinese VCs worth US$15 million
At the latest event, 8 startups out of 20 participants are set to get commitment of around US$30 million; Over 350 Chinese investors attended the event
Funding from foreign PE and VC firms into Indian startups nearly doubled year-over-year to reach US$16.7 billion in 2017, this is continuing in 2018
The Indian Embassy in China in partnership with the Startup India Association and the Venture Gurukool fund organized the 2nd Startup India Investment Seminar on November 12 in Beijing. The event was aimed at fostering innovation and entrepreneurship in India, while exposing Chinese venture capital (VC) funds and investors to the promising Indian startup space. It also targeted assistance for Indian startups to reach out to large Chinese investors for investment.
The event was attended by 42 entrepreneurs representing 20 Indian startups that pitched before Chinese investors for investments in their ventures. More than 350 Chinese VCs, angel investors participated in a day long pitching session and seminar. During the 1st Startup India seminar last year, 12 Indian startups had participated, out of which four secured funding from Chinese VCs worth US$15 million, in line with growing Chinese interest in Indian startup space.
In the current round, eight startups out of 20 participants are set to get commitment of around US$30 million. The Indian unit of Industrial and Commercial Bank of China has set up a US$200 million fund for investing in promising Indian MSMEs and ventures. To facilitate such engagements, a panel discussion was also organised on effective strategy for Chinese VCs to enter the Indian startup market and share their experiences about the Indian startup ecosystem.
Funding from foreign private equity (PE) and VC firms into Indian startups nearly doubled year-over-year to reach US$16.7 billion in 2017, according to research firm Venture Intelligence. This investment has been driven both by a rise in diversity of the Indian startup space as well as by the promises of the growing Indian market. The overall investment in the PE/VC space in India touched an all-time high in 2017, and this momentum is expected to continue in 2018.
As per the Ministry of Commerce and Industry, India has the world’s second largest startup ecosystem, which is expected to grow at a 10-12 per cent annual rate, with more than 1,000 new startups being born every year. Besides Startup India, the Government of India’s push for digitisation (Digital India), investment (Make in India), skill development (Skill India), e-governance, among other initiatives, has provided diverse opportunities for startups.