Building and growing a deep tech startup is a challenge and in India its like an uphill battle.
Despite the availability of the resources and strong growth metrics (53% CAGR over the last 10 years), startups operating in this space are still eyeing access to seed capital and thematic funds and to reach potential customers who are mostly enterprises they need market access and POC-led engagements.
Deep tech startups look for deep academic knowledge & expertise while hiring for their team. And it shouldn’t surprise you if you find that 85% of Founders/CEOs believe that DeepTech talent comes at substantial costs.
All these challenges and hurdles need immediate fix by creating corporate, VC, and community-backed incubators for enhancing outreach and driving innovation, academia collaboration, and world-class innovation clusters.
Addressing these fallbacks, Dr. Sunil Shekhawat, ex-Head of Products and NASSCOM Deeptech Club backed by Baring Private Equity Fund India and Inflection Point Ventures has launched a fundraising, one-stop support platform to drive deeptech innovations from India.
Sanchiconnect enables founders to raise funds from global VCs, demonstrate their product to enterprises, hire tech talent and more- everything around growing business globally.
To fast-track funding in deep tech startups, Sanchiconnect has a network of more than 50 Angels, VCs, and Investment networks like Capital2B (InfoEdge), Pi Ventures, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, Modular Capital and many more as Investment partners to fund startups on the platform.
Dr. Shekhwat, CEO of Sanchiconnect, said, “With a vision to democratize Indian innovation globally on four fronts – fund accessibility, enterprise sales, tech hiring and business services, we expect Sanchiconnect to become leading discovery to transaction enablement platform for deep & emerging tech innovations from India for the world.”
The platform has come out of stealth mode in the last week of August and has already confirmed three successful term sheets through the investor partner network, the statement said.
Speaking on the development, Ankur Mittal, Founding Partner at IPV, said, “The quantum of deep tech funding proposals coming to us has been growing consistently over the years and so does our member’s interest. This partnership is symbolic of our commitment to go higher on deep tech investing and reduce the timeframe in rolling out term sheets to deep tech founders.”
“India has the potential to become a leading hub for deep disruptive technology companies. SanchiConnect is an exciting platform enabling fundraising, recruitment, customer acquisition and strategic partnerships for this ecosystem. We are delighted to partner with SanchiConnect to constructively engage with this ecosystem” said Rahul Bhasin, Managing Partner at Baring PE India Fund.
Source @Indianstartupnews
