22 July 2023
Punjab Angels Network, a leading platform in north India based in Chandigarh capital region and aimed at inspiring, empowering and facilitating the startup ecosystem in Punjab, organized a startup pitch session at Atal Incubation Centre(AIC) – ISB Mohali in which 20 startups took part.
As many as 10 startups were selected for funding and incubation of three to twelve months depending upon their respective stages. The selected startups will be receiving a funding of Rs 5 crores which will mainly be given by a single Punjab based investor Iqbal Singh of Innovative Financial Management. Punjab Angels Network has plans to increase the funding up to Rs 10 crore as per the future requirement of the startups and on the basis of suggestions by the investors.
“The idea behind the Startup Pitch Session was to take the startup ecosystem to newer heights in Punjab, which has a huge scope for building and expanding entrepreneurship. The event, organized in collaboration with AIC-ISB and India Network, was focused on sprinting and building the entrepreneurial and start-up ecosystem in the region,” said CA Sahil Makkar, Chairman and CEO, Punjab Angels Network.
Anuradha Chawla, Chief Operating Officer(COO), Punjab Angels Network, said that the startup pitch session brought together top industry experts to act as jury and also investors for the event. They included Avik Sarkar, AI Head, NITI Aayog; Dr Atul Mehta, Senior Vice President, Sales, Razorpay; Sandeep Sehgal, CEO and Founder Global ScaleUp Pte Ltd, Singapore; Naman Singhal, CEO, AIC-ISB, Mohali; Sundeep Gaba, CEO, AllesHealth from Switzerland and Saurabh Munjal, CEO Lahori zira.
Govind Kaushik, Vice President, Punjab Angels Network, said that the jury were from various domains of expertise like AI, Data Analytics, public sector, retail, automobile, business intelligence, manufacturing, IOT(internet of things), legal, HR and compliances, agriculture, health, education, defence, predictive maintenance, and so on.
CA Sahil Makkar further informed that the event was witnessed by 20 enthusiastic startups after a rigorous shortlisting process of two months, wherein, originally, 90 startups from all over India and mainly from Bangalore, Delhi , Mumbai had participated . The talented entrepreneurs showcased their ground breaking ideas, products, and services and gave everyone a dip into the wave of innovation.