LetsVenture Announces Partnership With MeitY Startup Hub

LetsVenture, India’s leading early-stage investment platform, today announced its partnership with MeitY Startup Hub (established as an initiative of the Ministry of Electronics and Information Technology (MeitY), Government of India). The partnership comes at the backdrop of MeitY Startup Hub’s mission to build a conducive innovation and start-up ecosystem by bringing together various technology innovation stakeholders, and paving the way towards a strong economy built on the twin engines of innovation and technological advancement.

MeitY Startup Hub acts as a hub and ensures synergies among all the incubation centres, Centres of Excellence on Emerging Technologies and other existing platforms, supported by the Ministry of Electronics and Information Technology. In addition to this, the Startup Hub aims to promote technology innovation, start-ups and creation of intellectual properties for the purpose of strengthening the Indian startup ecosystem.

LetsVenture being a market leader and a robust investment platform for Angel Investors, Family Offices and Funds in India, that primarily focuses on investment across sectors such as Fintech, Healthcare, SaaS, Enterprise Startups, this partnership will serve the the purpose of strengthening the start-up ecosystem in particular in the domain of Electronics and IT. LetsVenture will also support investments in the MeitY Startup Hub ecosystem that will help in strengthening the investment outlay for Indian tech startups with opportunities to pitch their solutions in domestic and global markets.

Commenting on the partnership, Shanti Mohan, Co-founder & CEO, LetsVenture said, “2021 has been pivotal for startups and investments in India. With 50% of Indian unicorn startups created this year alone, India is well poised to be the global epicentre for startups and technology innovation as one of the world’s largest startup ecosystems. To power this change various players need to come together to collaborate, support and accelerate this growth engine. Our partnership with MeitY Startup Hub is a step in this direction. We are hopeful that this partnership will spur the next wave of leading global tech companies built in India and catering to the global markets. We would like to thank MeitY for this opportunity and we look forward to unlocking an exciting chapter in India’s ascendancy to global technology supremacy.”

Commenting on the partnership with MeitY Startup Hub Nakul Saxena, Head – Fund Strategy & Investor Relations, LetsVenture said “The entrepreneurial culture is creating a favourable ecosystem of enablers. While a number of private funds, mentors, and service providers are entering the arena to further accelerate the trend. I believe there is a long way ahead to reach a more evolved and a mature landscape and since the opportunities are sufficiently large and numerous the future of India will likely be shaped by its entrepreneurs. Our partnership with MeitY Startup Hub aims to further this vision to propel India as a leading startup ecosystem.”

Commenting on the Partnership, Dr. AK Garg, Senior Director, MeitY remarked, “The Indian Startup ecosystem that witnessed an avalanche of unicorns and IPOs this year, has placed India firmly on the global innovation map. This collaboration is envisaged to act as a catalyst to accelerate the growth of the technology startup ecosystem by streamlining the funding and investment landscape by leaps and bounds in due course.”

Welcoming the Partnership, Mr. Jitendra Vijay, CEO, MeitY Startup Hub remarked, “The partnership with LetsVenture is assured to boost the investment landscape of the MSH ecosystem. 2021 touted as an exhilarating year for the startup ecosystem has also witnessed unprecedented investments. We are delighted at this collaboration as it would enhance the infusion of domestic investments in the early stage Indian startups.”

As part of this partnership LetsVenture will allow access to MeitY Startup Hub to facilitate management of cap table, create and roll out ESOPs and facilitate ESOP liquidity for startups through trica equity, which is a leading ESOP and cap table management platform from Letsventure. In addition to this LetsVenture will popularize the MeitY Startup Hub Gurukul program to enable investors to become mentors in the program.

LetsVenture and MeitY Startup Hub intend to collaboratively launch an Acceleration Program for upskilling of MSH Startups and boosting the investments in startups.MeitY Startup Hub and LetsVenture will launch a sustainable and scalable program to build the angel investor ecosystem in India by creating workshops and training programs to attract traditional business people to become startup investors. LetsVenture will also provide access to the global market through its affiliates.