Merchants’ Chamber of Commerce & Industry in association with IIM Calcutta Innovation Park and Entrepreneurship Cell, IIT Kharagpur organized a Session on “Runway for Startups” on Friday, 22 December 2023 at 4.00 p.m. at Conference Hall of the Chamber.
The objective of the Session was to provide a platform to the start-ups to showcase their potential to industries for the collaboration and crucial support and guidance to budding entrepreneurs.
The following start-ups: Technixia Automation Private Limited, Kaushal Circle Private Limited, RCHobbyTech Solutions Private Limited, Aegipan Animal Biocare Private Limited and Sarathi Healthcare presented business ideas.
Smt. Namami Ghosh, Head – Portfolio Management, IIM Calcutta Innovation Park in her address said that IIM Calcutta Innovation Park (IIM CIP) was set up under the aegis of IIM Calcutta to promote entrepreneurship, foster innovation and develop entrepreneurship ecosystem with a focus on East and North-East India.
Smt. Ghosh informed that for the last 10 years IIM CIP has incubated around 1000 startups and facilitated funding for 400 of them. They have plans to incubate and fund 50 startups this financial year.56% of total start-ups from IIM CIP have able raised follow up funds around 1916 corer from venture capitals and angle funds.
Dr. Pranab K Dan, Associate Professor, Rajendra Mishra School of Engineering Entrepreneurship, IIT Kharagpur in his address said that IIT Kharagpur was the first institution who has created importance of start-up ecosystem in the state. IIT Kharagpur Entrepreneurship Cell is working student driven activities to promote the ideas of entrepreneurship.
Dr. Dan emphasized on the idea of industry academia collaboration for expanding start-up ecosystem. Dr. Dan further added that Entrepreneurship must be taught and new venture needs to know the focus area.
Shri Punit Manek, Founder, Kaushal Circle Private Limited in his address said that the products of the unitare a mobile-app, localized community platform for blue and grey-collar workers.
Shri Kalyan Koley, Founder Aegipan Animal Biocare Private Limited in his address said that Aegipan Animal Biocare Private Limited focuses on Artificial Insemination technology to protect the precious breed from the threat of extinction and applies latest scientific.
Shri Biswajit Dey, Founder, RCHobbyTech Solutions Private Limited on his address said that Drones Tech Lab builds smart, customized, unmanned surveillance and survey solutions drones, rovers, software and data analysis systems – for Defence Organizations, Power Corporations and Municipal Corporations / Smart Cities.
Smt. Suchandana Ghoshal & ShriSougam Maity, Founders, Sarathi Healthcare in their address said that Sarathi Healthcare is a Smart IOT based medical System with advanced innovative features and useful inbuilt facilities which when accommodated inside any normal vehicle.
Smt. Swati Singhania, Founder, ThePrimeCFO in her address mentioned that investment in the start-ups is more risky than investment in equity market. The investors are play the role of catalyst in the progress of strata-ups.
She advised that investors should be prepared to wait for 5 years return from company less than 5 years and further she added that the next 5 years will be very beneficial for the start-up investors in India. She also pointed out that now through angel networking and venture capital, one can investment one lakh.
Shri Gagan Kedia, Partner, Hiregange & Associates LLP addressed at the Session on GST perspective for start-ups.
While welcoming the guests, Shri Prateek Chaudhary, Chairman, Council on Start-ups, said that India as a nation and West Bengal in particular has emerged as a hub for innovation and entrepreneurship, and it is heartening to witness the thriving ecosystem. The collaboration between the startup community, academic institutions, and private investors has played a pivotal role in creating an environment where groundbreaking ideas can take root and flourish.
The session was concluded with the hearty vote of thanks proposed by Shri Abhay Agarwal, Co-Chairman, Council on Start-ups, MCCI.