In the first-ever regional fund fest for the Northeast, 16 finalists pitched to a panel of 8 investors; 9 companies offered spot deals totalling to over Rs 5 crore
Guwahati: The finale for 'Northeast East India Fund Fest 2020', the first-ever dedicated fund fest for startups of Northeast, was held at Vivanta by Taj in Guwahati, Assam on Friday, where budding entrepreneurs took home investments worth over Rs 5 crore.
At the finale, 16 finalists pitched to a panel of eight investors. 10 of the finalists were offered spot deals with nine entrepreneurs accepting the deal. The total value of deals was over Rs 5 crore. “The process of securing funding for the other companies will continue over the next three months as we match other investors in our database to these companies. We see this as a trend in all our fund fests where the spot deal value is exceeded substantially in the weeks following the finale, as other investors join the investment rounds. We expect that this event will end of creating deals worth INR 7-8 crores over the next few weeks,” commented Nalin Singh, the co-deal master of the event.
The event was organised by Natio Cultus Consultancy Pvt Ltd, Hyderabad in partnership with TiE Guwahati.
The 16 entrepreneurs for the fund fest were selected through a rigorous filtering process of 2,000 interested applicants. The selection of these startups was made by an eminent jury and through a proprietary ‘Investor Readiness Report’ process, ensuring the companies were thoroughly vetted. The entrepreneurs were from varied industries and came from nine different cities. The finalists will be pitching in front of 8 Master Investors to get deals needed to take their businesses to the next level. The event was recorded to be telecast as a web TV series on the India Fund Fest YouTube channel.
Nalin Singh, founder of Natio Cultus Consultancy Pvt Ltd, author of the bestseller and national honour-winning book Get Funded Now was the Deal Master for North East India Fund Fest 2020 along with the managing partner of Lexygen, Vijay Sambamurthi. They will be interacting with the founders of selected companies to coach them about their pitch and funding strategy from a week in advance.