Incubations and accelerators provide startups a platform where they can connect with valuable resources and also catapult their growth using them. Apart from the benefits of funding and showcasing their idea to an esteemed set of investors or mentors, startups get to make valuable connections that help increase their presence.
The Second Edition of StartoBIA was held at The Club- Mumbai, Andheri on 27th April 2022. The event saw the participation of eight startups and eighteen jury members. This event was showcased in front of successful BIA members in order to encourage them to be a part of the BIA Investor Club. It successfully created a link between BIA Members, the investors, and the startups present there.
The Opening Note by the President of Bombay Industries Association
The President of BIA, Mr. Nevil Sanghvi opened the event with an inspiring and energetic speech. He said, “As everyone is aware that this is the 75th year of Bombay Industries Association, we have put special focus on ‘Generation Next’ from the beginning. This generation has new ideas, exceptional energy, and the will to work 24×7. On the other hand, our BIA Members are also successful entrepreneurs who have domain expertise, connections, experience, and resources. Here, we are creating a platform to bring them together; so startups gain access to members’ network and circle of influence, while the members gain access to futuristic businesses.”
“As everyone is aware that this is the 75th year of Bombay Industries Association, we have put special focus on ‘Generation Next’ from the beginning.”-Mr. Nevil Sanghvi, President of BIA
He also gave a recap of the First Edition of StartoBIA where three startups pitched in front of BIA members. He also highlighted the efforts in the form of webinars and workshops that were held for BIA Members to understand the dynamics of startups. It helped BIA members to understand the scenario so they can channel their expertise into helping startups in an optimal way. All these efforts led to the formation of a ‘StartoBIA Investors Club’ which consists of eighteen members.
BIA successfully reached over 114 startups out of which 8 were selected by the review committee. This committee included Dr. Nayan Bheda, Mr. Satish Singh, and Mr. Ritesh Gadda who used a two-step approach to finalize the startups.
He introduced the chief guests of the event Mr. Parikshit Dhume and Dr. Srinivasan .R Iyengar, the Director of Jamnalal Bajaj Institute of Management Studies. Their presence uplifted the mood of everyone at the event. The President also acknowledged several BIA members who worked relentlessly to organize this event.
He also appreciated Mr. Ganesh Gokhale, Founder of Touchwood Advisory and Management, and Mr. Shubh Bansal, Serial Entrepreneur, running ventures into Tech & Media spaces, who were present as a part of Touchwood Incubation and Innovation Platform for Startups. StartoBIA and TIIPS Incubation together created an engaging platform that proved to be fruitful for investors as well as startups.
An Introduction to the Investors and Startups of the Event
The panel of investors, an extremely important aspect of the event included several BIA members who are running successful businesses. These investors have the apt knowledge and expertise to guide startups in the right direction. Startups also presented unique and new-age ideas that would be beneficial in the coming years.
The investors’ panel included Mr. Ajay Kant Ruia, Mr. Aloke Vohra, Mr. Bhupen Chheda, CA Anil Goyal, Mr. Jeenanath Shetty, Mr. Manish Jagdish Chaudhari, Mr. Shabbir Rajkotwala, Mr. Narendra Ruia, Mr. Prasanna Dongre, Mr. Rajendra Kothari, Mr. Ritesh Dhingra, Mr. Sandeep Sehgal, Mr. Sanjay Mehta, Mr. Sanjay Sheth, Mr. Sudhir Agarwal, Mr. Manan Doshi, Mr. Rajesh Mishra and Mr. Umang Gandhi.
The startups that were present at the event were belonging to various sectors. The founders or co-founders of Society Now, TeachUs, Offee, Knock Knock, Younited, Drumlins, Kuber Jee, and Scanbo India presented their pitch deck in front of the StartoBIA Investors’ Club.
Every presentation created an engaging conversation between the investors and startups. This interaction was not only insightful for the startups but also for everyone else who was a part of the event.
Investors, as well as startups, shared their experiences at the end of the event. The two groups jointly believe that this initiative will help promote the startup culture of India. This help will not only be generated through funding but also by connections that were created through networking.
The startups believed that the investors gave valuable feedback and pinpointed exactly what their idea lacks which they can use to improvise and move forward. The investors, on the other hand, were amazed by the innovative ideas that the startups showcased and the potential that lies behind them.
The event also encouraged BIA Members to join the StartoBIA Investors Club, in turn expanding its bandwidth. This will allow the association to get more innovative startups on board and help them grow.
The event ended with a vote of thanks and was followed by a great networking session. It was sponsored by Audi Mumbai South and also gave a token appreciation to many BIA Members. It was concluded by the announcement of new BIA memberships that will keep continuing the esteemed legacy of the Bombay Industries Association.