With an aim to help foreign investors access to Indian startups, LetsVenture and I-Venture @ ISB announced its exclusive five-year partnership, at the London Conference 2022: Building the India-UK Startup Corridor.
The event, which was organized by I-Venture @ ISB in collaboration with Wheeler Institute at the London Business School for Business and Development, saw eight startups from India and UK make their startup pitches before the investors.
Speaking about the partnership, Shanti Mohan, Co-founder and CEO of LetsVenture, said, “With the growth and maturity of the Indian startup ecosystem this decade and the global slowdown, we believe India is poised to be among the top investing options for investors. LetsVenture is today already trusted by investors from 60 countries and our systems are designed for easy access, transparency, and portfolio management. This partnership is a natural extension of what we offer today. Having a credible partner like ISB to launch in a new market is an endorsement of the trust we have built with international investors looking to invest in Indian startups.”
Speaking about the partnership, Prof Bhagwan Chowdhry, Faculty Director, I-Venture @ ISB said, “One of the key pillars at I-Venture @ ISB is to bring together 13000+ alums across 60 countries and 450 cities as investors in startups that we are incubating with I-Venture @ ISB. Our collaboration with LetsVenture to build a platform for this will allow alums to evaluate and invest in these startups with ease providing capital for startups we bring to ISB."
Saumya Kumar, Director I-Venture @ ISB said “I-Venture @ ISB is committed to help build the ecosystem in India and make resources available to all startups in the ecosystem. The partnership with Letsventure is a step in that direction and we will ensure all deserving startups get access to resources that we have.”
During the event, which was organized on October 27, 2022, close to 30 ecosystem stakeholders including VCs, policy makers, industry/corporate, startups and academia from India and the UK discussed the best ways to build a robust and sustainable global startup corridor between the two countries. They also discussed a wide range of topics including access to investment and funding, the unique role of business schools in offering mentorship and incubation, difficulties of incorporation and establishment, and the benefits and limitations of trade conferences and delegations.
Supporting the collaboration between the countries, Lord Karan Bilimoria, Member of the UK House of Lords, Chancellor of the University of Birmingham and Founder of Cobra Beer, talked about the importance of the collaborative initiative and also recalled his own entrepreneurial journey. He highlighted the importance of increasing trade between two countries.
Addressing the audience, Lord Karan Bilimoria said, “With the UK and India, there has been big changes in both the countries in the last few years. Once liberalization began in India in 1991, it really took off in 10 years. What that did more than anything else was unleash the spirit of entrepreneurship in India. It is phenomenal, you can feel it, see it and it is driving India forward. Similarly, today, the UK is one of the most entrepreneurial countries in the world.”
LetsVenture introduced its investment platform to the international investors, including ISB and LSB alums, enabling them to connect with and invest in Indian startups.
Speaking about the event, Nakul Saxena, Head - Fund Strategy & Investor Relations, LetsVenture, said, “There is a huge opportunity in both India and the UK. With I-Venture@ISB and LetsVenture coming together, it will provide a platform for the alumni to access the Indian markets. We will closely work with I-Venture@ISB and the UK government to help the startups from both countries build a UK-India corridor. The alumni are excited about the new opportunity which opens up the door to Indian markets.”
LetsVenture is a pioneering marketplace for early-stage startup funding that ensures fundraising in India’s private market is easy, efficient, and transparent for both startups and investors. Since it started nine years ago in 2013, LetsVenture has raised over $110 million for 500+startups, and its portfolio is valued at $9.5B+. The LetsVenture platform has around 18,000 investors from 60 countries. LetsVenture is backed by Accel, Chiratae Ventures, Nandan Nilekani, Ratan Tata, Rishad Premji, Mohandas Pai, Sharad Sharma, and Anupam Mittal.
About I-Venture @ ISB
I-Venture @ ISB nurtures entrepreneurs and startups by administering business incubators that provide ‘Start-to-Scale’ support for entrepreneurship and facilitates the conversion of startups into profitable entrepreneurial ventures. I-Venture @ ISB works with mentors, VCs, and academicians to ensure startups’ reach to market and their growth.