 "Pitch@Rashtrapati Bhavan helps 12 startups get Rs 85 cr funding")
Pitch@Rashtrapati Bhavan, a programme to connect investors with start-ups, has helped 12 new ventures get funding of about Rs 85 crore.
Industry body CII in partnership with Rashtrapati Bhavan organised the event to provide a platform to start-ups to connect with investors.
"As an outcome of this grand initiative, 12 venture capitalists (VCs) and investors exchanged funding agreement/ MoUs to the tune of Rs 85 crore with 12 start-ups in the areas of automobile, healthcare, medical devices, fintech, e-commerce, human resource management, unorganised retail and life sciences in the presence of the President of India," CII said in a statement.
The goal is to nurture India's entrepreneurial ecosystem and create opportunities for its vast young population, to generate wealth and find gainful employment, it added.
The programme, which was attended by 12 VCs, 31 start-ups, and nine grassroot innovators, also saw participation from key officials like Rajiv Pratap Rudy (Minister of State for Skill Development and Entrepreneurship), NITI Aayog CEO Amitabh Kant, Infosys co-founder S Gopalakrishnan among others.
The event positioned Rashtrapati Bhavan as one of the key promoters of the start-up ecosystem in India and helped establish a dialogue between investors and start-ups to assist in finding effective mentorship and adequate funding.