GUWAHATI, May 17 - Assam Startup - The Nest initiated a meeting today with the High Net worth Individuals (HNI) of Guwahati towards forming an ‘Angel Network’ in the State for the startups. The incubator is gearing up to induct its first batch of startups for incubation. The meeting was held as part of the groundwork needed to create funding opportunities for startups.
Manjula Saikia Bhuyan, Additional Secretary, Department of Industries and Commerce, called upon the HNIs to nurture and mentor the startups that get selected for incubation at Assam Startup - The Nest. She requested them to play a central role in commercially lifting up innovative ideas and products by young startups in Assam.
Sushanto Mitra, CEO and Founder of Lead Angels, India’s first privately owned startup investing network, informed the HNIs about the value of investing in startups. He said, “A lot of entrepreneurs investing in new startups have made more money than they do from their own business.”
Owing to the fact that investing in startups is a risky proposition, the HNIs inquired about the right methodology for deciding the startups to put their stakes on.
Sushanto Mitra stressed the importance of quality evaluation to ensure a minimum loss. He mentioned that startup incubators like Assam Startup - The Nest can improve the survival rates of the startups.
Pranjal Konwar, COO, IIM Calcutta Innovation Park, briefed the HNIs about the Assam Startup Policy and the role of his entity as implementing partner of the state-owned marquee incubator, Assam Startup - The Nest.