TiE ISB connect generates Rs 330 cr investment interest

The TiE ISB Connect, which concluded here on Thursday, generated Rs 330 crore investment interest, the organisers said.

The two-day event jointly organised by The Indus Entrepreneurs - Hyderabad chapter and Indian School of Business witnessed participation of over 700 delegates representing entrepreneurs, various stage start-ups, investors, government, academia, research labs and incubators.

Out of 120 start-ups which had pitched to the venture capitalists and private equity investors, 35 start-ups garnered interest from the investor community for follow up action.

Memorandum of Understanding was also signed between TiE and National Research Development Corporation (NRDC) to impart the technical research done by NRDC to the aspiring entrepreneurs.

"We hope that the informative sessions during the two days of TiE-ISB Connect 2016 would inspire the aspiring entrepreneurs to develop disruptive products in the days to come. The tremendous support from the partners and encouragement from the government helped to make this event a reality," said Suresh Challa, President, TiE Hyderabad and Director, SSPDL Ventures.

"It was an overwhelming turnout of proven and aspiring entrepreneurs as well as investors since over 100 meetings with nearly 40 Investors who participated in the Investors Connect were arranged," said Ananth Rao, Chair, TiE-ISB Connect 2016 and Chairman SkillPro.

"Additionally 4 start-ups got a chance to pitch their innovative business idea and live funding negotiation with the celebrity investor panel wherein 2 start-ups raised a total of Rs 1.25 crore and the other 2 received expression of interest from the investors to invest at a later stage," Rao said.

Enterprising start-ups and other stakeholders were also felicitated on the last day.

--IANS

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