American, Japanese, Korean and Singaporean VC Funds attended virtual Roundtable
Commerce & Industry Minister Piyush Goyal has called upon the Global Venture Capital (VC) Funds to focus more on Startups from Tier 2 and 3 cities, urging the fund investors to explore new sectors for investing as well as to help promote and protect the intellectual property created by the young Indian entrepreneurs.
Chairing the 4th Roundtable with Global Venture Capital Funds, organised by the Department for Promotion of Industry and Internal Trade (DPIIT) on 14 Jan 2022, Goyal also urged the VCs to provide expertise to scale-up and explore greater capital infusion including risk capital.
Over 75 VC fund investors from across the United States, Japan, South Korea, Singapore, and some Global Funds domiciled in India participated in the deliberations. These funds have a total Assets Under Management (AUM) of more than US$30 billion in the Indian Region.
Noting a number of suggestions were made by the Global VC funds, which they felt could further the investors’ sentiment in the sector, Goyal assured that the Government has already taken a number of steps to support the Startups and would also do so in the future.
It was highlighted that 49 regulatory reforms have been undertaken by the Government to enhance Ease Of Doing Business, Ease Of Raising Capital and Reduce Compliance Burden specifically for Startup ecosystem.
The Roundtable, held through video conference by DPIIT as part of the Startup India Innovation Week, was to share progress report of the current Indian Startup-VC Ecosystem, insights on impact investing, India’s global outlook and the opportunities and interventions for the way ahead of VC investments in India.
The roundtable discussion covered topics like Building for the World from India, An Impact, SDG and Digital India Outlook, Regulatory updates for Global and Domestic Funds, India Opportunity – How policies have shaped up the Ecosystem and Way Forward and Vision for India @ 2047. The session also covered the top regulatory issues to be addressed with the Government of India.
India is home to over 61,000 recognised Startups spread across 55 industries, with 45% of them emerging from Tier 2 and 3 cities and 45% of Startups having at least one Woman Director, a testimony of diversity, spread and inclusivity of the Indian Startup ecosystem.
DPIIT is organizing Startup India Innovation Week from 10th to 16th January 2022. The virtual innovation celebration is designed to showcase the spread and depth of entrepreneurship across India. The programme is bringing together top policy makers, industry, academia, investors, Startups and all ecosystem enablers from across the globe. fiinews.com
