Top investment agencies of the country were roped in to be a part of this crucial event.
The two-day event was curated keeping in mind the comparatively newly emerging interest in startup investments in the region as well as the gradual emergence of Northeast as a hotbed for investors countrywide.
Need has been felt for creating an early-stage funding pool for the startups in Assam.
The startup scenario in the State can improve only with the creation of a mutually supportive eco-system in the State wherein the high-net-worth individuals of the State have to play a crucial role.
The first day of the event saw the high net worth individuals (HNI) of the state gathering at The Nest for the Angel Miniversity Programme.
The programme was focussed on the dissemination of knowledge among the high net worth individuals of Assam about the myriad aspects of startup investments, including the stages and best practices of angel investing, term sheet, valuation and due diligence, and managing exits.
Nandini Mansinghka, CEO and managing director of Mumbai Angels Network, India’s premiere angel investment platform, chaired the meet, offering vital insights into the nitty-gritties of early-stage startup investments.
“An angel is someone who takes risks with the founder. They are keen on investing time and money. They are angels because they walk in when everyone else says ‘No’,” stated Mansinghka.
Talking about the benefits of angel investment, she further added, “An angel investor gets larger percentage of the company so that when it grows, they get a higher rate of return.”
Addressing the gathering, Manjula Saikia Bhuyan, additional secretary, Department of Industries and Commerce, and managing director, AIIDC thanked Nandini Mansinghka and Mumbai Angels for the encouraging gesture by participating in the meet.
She also urged the HNIs to come forward to support the startups and take the next step towards forming the Assam Angel Network and assured them of complete support from the Government of Assam towards the same.
The core agenda of the meet was to encourage and influence the local HNIs to take interest in mentoring and funding early-stage startups and together form the first Assam Angel Network, as outlined in the Assam Startup Policy 2017.
Second day witnessed an evening Fireside Chat on ‘Demystifying Startup Investments – Understanding Investor’s Perspectives’.
Seasoned investors from across the country sat for an interactive session with the local startups to give them significant insights into the investors’ perspective while assessing the fund-readiness of the startups.
Nandini Mansinghka from Mumbai Angels Network, Varun Bhatt from Unicorn India Ventures, Srikanth Prabhu from Social Alpha, Ribhu Ranjan Baruah from Northeast Venture Fund, and Sandro Stephen from Indian Angel Network attended the session as resource persons.
They asked the participants to think big.
While starting with solving the local problems, they suggested the startups to eventually start exploring large-scale market opportunities.