IPV, BITS Pilani Goa Partner to Support India's Startup Ecosystem This partnership marks IPV's first initiative to foster and grow campus-backed entrepreneurs
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Inflection Point Ventures, a leading Indian angel investment network, is partnering with The BITS Goa Innovation, Incubation & Entrepreneurship Society (BGIIES) to support and fund social impact startups being incubated at the BITS Pilani Goa campus.
BGIIES has been registered with BITS Pilani KK Birla Goa Campus, a well reputed science and technical university in India. BGIIES Goa aims to strengthen the startup ecosystem in the region and enable entrepreneurs by providing them with mentoring and capital to launch disruptive and impactful startups, said a statement.
"IPV works closely with more than 25 exclusive communities associated with e-cells, universities, colleges, and alumni associations including IITs and IIMs across India. Alumni communities and campus startups have always been of great importance to us as some of the best startups have originated from them. Additionally, our Campus Connect programs allow our portfolio companies to collaborate with and hire from top colleges. BITS Pilani KK Birla Goa Campus is a new territory for us, and with this collaboration we look forward to funding startups from the college's incubation cell for the first time. In addition to replicating this model with our existing college network, we are confident of seeing stellar results. It is in our DNA to support entrepreneurs throughout the country," said Ankur Mittal, co-founder, Inflection Point Ventures.
IPV actively participates in exclusive events at various institutions to encourage startups and truly believe that people grow with startups, said the statement, adding, the partnership will have multiple facets with an aim to foster the entrepreneurial culture among the students.
BGIIES–BITS Pilani Goa and IPV plan to co-host industry level events where top VCs and angels will mentor startups by providing them industry access and capital. IPV will be leveraging its industry connect with the top VC funds to foster one on one connections with high-potential young founders and also supporting them with seed capital.
"IPV has collaborated with BGIIES to build a robust start-up ecosystem for incubated startups. As a result, efficiencies will increase, good startups will have the opportunity to scale early, and long-term value will be created across the nation. The MoU will help IPV share their knowledge and expertise with us, to improve startup & investor experiences and ensure future growth," said Tarun Krishnakumar, General Manager of BGIIES Incubator, GOA.
Through this partnership, IPV aims to formalize startup investments which will allow the alumni and members of the institution to evaluate and participate in startups emerging from BGIIES.