‘Create conducive atmosphere for startups’
| Date :05-May-2019 |
Business Bureau:
Encouraging the participants here in the city recently, National President of the Confederation of All India Traders (CAIT) and Mentor of VCAT Nagpur, B C Bhartia, said that start ups could play a crucial role in the country’s economic growth. Speaking at the Venture Catalysts 11th pitch organised by Vcats Nagpur unit of Venture Catalysts Mumbai, he said that there was need for creation of conducive atmosphere for start ups so that they could flourish. Bhartia also said that Indian economy can accelerate at a fast pace if startups are funded through Angel Investors.
Angel Investment in startups is a new emerging asset class. Every month Vcats Nagpur unit of Venture Catalysts Mumbai organises such events to attract investment for startup. CA Poonam Khandelwal said that it was Venture Catalysts 11th pitch in Nagpur in which more then 75 Angel Investors were present. The three startups were from Mumbai and Ahmadabad.
They presented their unique business ideas to Angel Investor. The promoters of the start ups shared their experiences and told the participants how they overcame the initial hurdles. Vcats Nagpur is spreading the education and knowledge about startup in different cities of Vidarbha. Already awareness programmes in Nagpur, Akola and Amaravati have been conducted. In this months startup, first startup was ERP SaaS products for the healthcare industry.
On behalf of company Dr Amit Gupta from Ahmadabad, Co-Founder made presentation. He said that it is founded by an MD in Radiology and ISB alum, this startup integrates all stake holders in the diagnostic value chain through a common technology platform. Their products and services are focused on unorganised diagnostic labs in tier 1 and tier 2 cities. They help in standardising lab offerings and empowering them to sustain against the organized market. He spoke on company’s revenue in 2018-19 stood at Rs 6.26 crore with the venture being cash positive. The second startup was Co-working Kitchen Space for Food Business Operators.
The company was represented by Co-founder Sumit Gupta from Mumbai. This startup envisions to eliminate all the challenges faced by a food business operator while starting a new restaurant, delivery kitchen or QSR by providing licensed premises with a plug and play kitchen in a strategic location, food storage and housekeeping services. He further informed that the startup is currently operating one unit in Mumbai with over 30 customers in pipeline for the upcoming units. With cloud kitchens on the rise, this startup provides a smart and cost effective alternative to traditional kitchen operations. The third startup was into Herbal - All natural energy drink. The presentation was made by Mumbai based Co-founder Rahul Manek. This startup is a herbal - all natural energy drink with instant energy boost, targeted at working class consumers.