Indian Angel Network, an angel group, is eyeing Bangalore-based technology start-ups for making angel investments. IAN (Indian Angel Network), which has funded nearly 35 differentiated scalable IP-led ideas from a variety of sectors, is presently focused on enhancing its presence in cloud-based projects — both in the ‘software as a service’ and ‘platform as a service’ — as well as those who have scalable ideas in the skill building space.
Bangalore being the fountain head of startup ideas in the technology space has been identified as a focus region by Indian Angel Network, a group of over 200 highly influential members, comprising of India’s most successful entrepreneurs and dynamic CEOs.
Saurabh Srivastava co-founder of Indian Angel Network said, “The IAN members will evaluate start up ideas of young entrepreneurs from Bangalore and other cities in the south in mid May. Those with the most promising ideas will be able to raise funds from IAN. In addition, they will be able to access the strategic thinking of IAN members’ and global networks to grow their ventures.”
IAN counts among its members many of the successful technology entrepreneurs who build world class companies that today play in the global arena. Som Mittal, President of Nasscom, commented, “The vibrancy of technology start-ups in India will be catalysed by the Nasscom-IAN partnership. Our priority would be to create specific initiatives like the ‘software as a service’ — ‘platform as a service’ focus segments, and share experience around mentorship.”
IAN is partnering Nasscom emerge-product initiative to pool their expertise and resources to validate and mentor some of the ideas. The initiative will bring two organisations founded on entrepreneurship to help develop the next generation start-ups in India. IAN investors also help build a strong foundation for their investee companies, helping them build their key management, introduce customers, build global footprint ventures and help with the next rounds of investments or acquisition by global players.
IAN board member Rehan yar Khan says, “IAN will provide startups the technology business expertise and C-Level connections that its members bring. By taking an investment from Indian Angel Network, a startup can leapfrog sales by getting introductions at the highest level to India’s leading companies. They will get board members and advisers who are experts at strategy and execution of technology businesses.”
“Additionally, entrepreneurs can delight in the speed at which IAN will make the investment, allowing them to focus on building a great company fast,” added Khan.
“IAN will also fund a number of start-ups in the education and skill building space. India’s National Skills Development Council is looking at technology-based solutions to skill over 500 million people over the next 10 years. A start-up that uses technology to impart a range of concrete skills will have its hands full not only with opportunities in India but on a global scale.