10 June 2023
In what can be termed as a major boost to the startup ecosystem of the region, Transform 7.0′, was organised by Punjab Angels Network, an organisation working towards creating a startup ecosystem in Punjab.
A funding to a Mumbai based startup was also made. A cheque of Rs 1.25 crore was handed over to startup ReDesyn and this is notably, the first time that investors from the Punjab and North region have infused such a big amount in a startup company.
CA Sahil Makkar,Founder and CEO,Punjab Angels Network said, “In the last decade we have witnessed a paradigm shift in India’s startup industry and Punjab is now being seen as an important player in providing impetus to the industry through the funding of startups in different parts of India . Today’s funding will further increase the morale of startup founders not only in Punjab but other parts of the country too. Now, startups across India are looking up to the Punjab region for funding. This will help in building a vibrant startup ecosystem in the region. I am also happy that like other metro cities, Punjab – particularly Mohali is fast emerging as a hub for startups.”
In a remarkable session titled ‘Unlocking the Melodies of Entrepreneurship’ which was a part of ‘Transform 7.0’;Sahil Makkar, touched upon different issues such as investors’ role in startups, growth of start-up ecosystem in Punjab and challenges, etc.
The event also saw an engaging pitch session, where young entrepreneurs from places like Delhi, Mumbai, Madhya Pradesh, and Bangalore etc presented innovative startup ideas to the potential investors.
In an interesting panel discussion titled ‘Successful Entrepreneurs from the Region’’ Saurabh Munjal, Co-founder of a startup from the region shared his inspiring entrepreneurial journey with the audience. During the discussion, Munjal and other panelists that included Anuradha Chawla, International Speaker, Coach, Author, & Corporate Trainer; and industry experts Vikram R. Singh, and Radhesh Soni, shared valuable insights through their work experience and motivated the budding entrepreneurs to achieve big in their lives.
In the session – ‘Ecosystem Enablers – Creating impact in the Region’ moderated by Govind Kaushik, Vice President, Punjab Angels Network, panelists highlighted how startups collaborating with each other can build an effective startup ecosystem in the region. The panelists included Amit Madan, President Amritsar Founders; Dr Karminder Ghuman, Head Venture Lab-Thapar; Satyendra Singh, CEO, TBI-IISER and Harit Mohan, The Indus Entrepreneurs(TiE).
Kaushik said, “Building an eco-system is indeed a challenge but by focusing on startups’ basic needs and fulfilling these we can surely build a startup eco-system in Punjab. In this vein, Punjab Angels Network bridges the gap between investors & startups and provides an immense support in all matters like Legal, financial and marketing etc.”
In a positive development Punjab Angels Network is all set to release funds amounting to Rs 5 crore which will be invested in startups in the coming months. The funds are aimed at fuelling the startup industry of the region.