Startups based in Uttar Pradesh will soon be able to score new growth opportunities as the state gets ready to host ‘Fuel UP: UP Edition’, a virtual event where startup founders will get to interact with investors from across the country and pitch their ideas.
The event will be organised online on May 22, 2021 and is being organised by StartInUP (a Govt of UP initiative), UPLC (Startup Nodal Agency of UP Government) along with Startup India Beat and Plutus Business Advisory.
During the event, UP-based startups will get to connect with investors, pitch their ventures, learn from investor feedback to improve their business models and take discussions forward for their funding needs.
This event is a step towards realising the vision laid down by the government in its UP Startup Policy 2020 that aims to corporatise 10,000 startups and set up 100 incubators in the state by 2025. The UP Startup Policy 2020 aims to generate around 1,50,000 employment and self-employment opportunities with startups.
A chance to directly pitch for funding
“Startup India Beat is committed to encouraging entrepreneurship and fostering the culture of innovation across India through its initiatives. We are happy to partner with StartInUP to strengthen the entrepreneurship community in UP. Online events like this will benefit the startup ecosystem in the state, since it’s difficult to conduct physical events during this pandemic. We plan to conduct more events in the near future to address various needs of the ecosystem,” says Poulastya Dutta, Founder of Startup India Beat.
Kshitij Singh Yadav, Director Plutus Business Advisory, adds, “This event is aimed at creating local ecosystem clusters that can help all stakeholders, including the society at large. We are glad to collaborate with UPLC in creating a platform for UP-based startups and also YourStory to help create awareness about the event.”
Meet leading investors in the ecosystem
Over 3,700 startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) have been invited for the event and 10 of them will be shortlisted to present their pitches before an investor panel. The panel would comprise Aarti Gupta, CIO, DBR Ventures and Investor, Mumbai Angel Network; Bhavish Sood, General Partner, Modular Capital; Rajeev Kochar, Platinum Partner, Inflection Point Ventures; Shikha Mohanty, Investment Associate, Leo Capital and Sudhanshu Rastogi, Venture Partner, Venture Catalysts.
Talking about their participation in the event, Bhavish Sood, General Partner, Modular Capital, says “UP, with its deep educational infrastructure and some top universities, can be an ideal nurturing ground for new startups. With encouragement from the state government and the availability of risk capital, it’s just a matter of time before startups from UP start getting national recognition.”
Aarti Gupta (CIO DBR Ventures) adds, “We have plenty of smart, talented individuals with great entrepreneurial ideas in the state, but not many investors are willing to take a risk with them. I would like to support these ideas.”
Shikha Mohanty, Investment Associate, Leo Capital, echoed the same sentiment. “I’m looking forward to connecting with talented founders and interesting startups from the region,” she says.
Sudhanshu Rastogi, Venture Partner, Venture Catalyst, adds, “Being a UP-based angel investor, I think it is important to develop the startup ecosystem in the state, and these types of events are crucial for that purpose.”
Meanwhile, theInflection Point Ventures team believes that the platform will provide relevant suggestions and guidance to startups, encouraging them to do better and be able to raise funds for the exponential growth of their business. Participating as a panelist, Inflection Point Ventures (IPV) looks forward to hearing exciting pitches and meeting promising startups.
Know more and apply to Fuel UP: Up Edition 2021. The last date to apply is May 16, 2021.
Fuel UP: UP Edition 2021 is powered by Kotak Mahindra Bank and supported by Glide Accelerator, Startup Spine, Beta Insights Advisory, Startup News Fyi, CIMSME, VIEUTH and SME Bizz.