Former IIT Bombay team members start angel network

A team of three individuals originally from  Indian Institute of Technology Bombay ((IIT-B) have come together to form an angel network Lead Angels (www.leadangels.in). The team includes C Amarnath who retired as a professor of Mechanical Engineering from IIT Bombay, Sushanto Mitra, Ex-CEO of Society for Innovation & Entrepreneurship, IIT-B and a recent IIT-B graduate, Bipin Kumar.

This network had its first meeting recently in Mumbai where companies presented their business plans to a group of investors and mentors. Mitra the Co-founder & CEO of Lead Angels (LA), "It is a lot easier now for young entrepreneurs to seek money and support from their more experienced counterparts. This was not the case when most of our members set up their businesses."

The founding team at Lead Angels originally from IIT Bombay and its members include entrepreneurs who have built successful companies, angel investors who have invested in multiple startups, academics who have nurtured innovation and entrepreneurship and consultants who have been advisors to high growth companies.
 

Professor Amarnath who has been associated with entrepreneurship and innovation during his over 30 years career at IIT-B adds that academic research and investments have unfortunately been divorced from each other and efforts to bring them together can dramatically change the state of innovation in India.

The team has committed their own funds for co-investment with the network to align their interests to those of members as well as investee companies. Lead Angels, in a press statement said that membership to its network is by invitation only to successful professionals who have strong connections with the entrepreneurial and business ecosystems not only to select the best teams but also offer them the best support.

Bipin Kumar, who gave up a number of lucrative job offers to join the team said, "I used to be part of the students entrepreneurship cell at IIT-B during my student days and helping entrepreneurs was something very close to my heart for a long time. Working at LA and getting to work with successful entrepreneurs was an opportunity too good to refuse."

Lead Angels is group of angel investors based in Mumbai who invest in promising early stage companies that need investments and mentoring. Formed in 2013, the group has a diverse set of members including entrepreneurs and professionals. The team also includes EN Venkat – Partner, Aavishkar Frontier Fund, Atul Pradhan Founder, Transfoalign Consulting, L Subramayan, Founder, Trivone Digital. Faisal Farooqui, Founder of Mouthshut.com is also a member of Lead Angels.