Chennai, July 03, 2020: Venture Catalysts, India’s no.1 integrated incubator, is committed to the startup ecosystem even during these difficult times. Keeping in mind the physical distancing in the wake of the COVID19 pandemic, Venture Catalysts has opted for a simultaneous online launch of its chapter in three cities—Chennai, Bengaluru and Bhopal. The idea of the launch is aligned with the incubator’s efforts to raise the levels of innovation and foster entrepreneurship in the country, especially those beyond Mumbai and Delhi.
Venture Catalysts’ digital launch in these cities was kicked off with a panel discussion on “Angels and Start-ups: Creating Wealth and Value” that was well participated by its founder Dr ApoorvaRanjan Sharma, Angel Investor and Mentor, Balasubramanian Hari, and VikasBagaria, Founder of Peesafe.
Talking about the importance of launching in more cities during the COVID19 crisis, Dr ApoorvaRanjan Sharma, Founder of Venture Catalysts (VCATS) said, “Difficult times calls for innovative solutions and measures. Some of the most valuable companies and Unicorns were born during economic depressions and pandemics. We at Venture Catalysts are always scouting for innovative and scalable startups and we feel this is the right time to tap such startups. Today we are launching in two major metros—Chennai and Bengaluru along with one Tier 2 city, Bhopal. While Bengaluru is known as the Silicon Valley of India and has a well-developed start-up ecosystem, we still believe there is a dearth of early stage investors and mentors in the city. Meanwhile, Chennai is emerging as a FinTech and SaaS capital of India and Bhopal is also emerging as a startup hotbed lately. Our overall objective is to provide a much-needed fillip to the fledgling start-up ecosystem and provide the budding entrepreneurs here with the right mix of guidance, mentorship, and access to funds.”
Dr Sharma further added that VCATs mission was to educate youngsters to become entreprenuers and help in creating more Unicorns out of India. The incubator’s role will also involve in creating awareness among small businesses about the importance of startup as an asset class.
To oversee the expansion activities in these cities, VCATs has appointed Mr Sunil Sethia and Mr Ketan Jain as Regional Partner for Chennai, Mr BalajiPasumarthy, Mr Chetan Shirnali and Mr Raghunandan as Venture Partners for Bengaluru and Mr Pradeep Karmbelkar have been appointed as Regional Partners for Bhopal respectively.
On the appointment, Sunil Sethia, who is a practising Chartered Accountant with two decades of experience added, “Chennai has a robust ecosystem of enterprises startups. Some of the global companies like Zoho and Freshdesk were set up here. However, the city lacks proper venture capital ecosystem and VCATs has an immense opportunity to fill that void.It is an immense opportunity for us to be able to work with Venture Catalysts that has mentored companies such as Beardo, Fynd, Oyo during their early stage.” To this Chetan Shirnali, Venture Partner for Bangalore, said, “Bengaluru is the country’s technology and innovation hub and every month thousands of start-ups are born. However, many innovative and potential startups are unable to survive the cut-throat competition as they do not have access to funds or any mentoring. We look forward to solve many of the challenges companies face while starting up.”