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Chinese investors commit $30 million in eight Indian startups at Beijing

Startup India Investment Seminar was planned to expose Chinese venture capitalists and investors to the promising Indian startups

Press Trust of India  |  New Delhi 

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Eight Indian managed to secure funding commitments to the tune of $30 million at the 2nd Investment Seminar held at Beijing.

The event was planned to expose Chinese venture capitalists and investors to the promising Indian and also help Indian to reach out to the large for receiving investment for their

"Forty-two Indian entrepreneurs representing 20 participated in the event and pitched before to make investments in their ventures. More than 350 Chinese Venture Capital (VC) funds, angel investors participated in a day-long pitching session and seminar," the Commerce Ministry said in a statement.

The 1st Startup Indian Investment event was organised in November 2017. In the first seminar, 12 participated of which 4 secured funding from Chinese VCs of $15 million.

Zheng Bin, CEO of ICBC India, shared ICBC's experience in India, gave an overview of the Indian startup ecosystem and explained the process of investment. He also informed that ICBC India has established a $200 million fund for investing in promising Indian MSMEs and ventures.

A panel discussion was also organised to discuss effective strategy for Chinese VCs to enter the Indian startup market and share their experiences about the Indian startup ecosystem.

The event was organised by the Embassy of India in China in partnership with Association and Venture Gurukool on 12 November for fostering innovation and entrepreneurship among Indian youth.

First Published: Tue, November 13 2018. 22:25 IST