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New Delhi : Embassy of India in China in partnership with Startup India Association (SIA) and Venture Gurukool organised 2nd Startup India Investment Seminar on November 12, 2018, in Beijing, China, for fostering innovation and entrepreneurship among Indian youth. The 1st Startup Indian Investment event was organised in November 2017.

The event was planned to expose Chinese Venture Capital (VC) and investors to the promising Indian startups and also help Indian startups to reach out to the large Chinese investors for receiving investment for their companies. Forty-two Indian entrepreneurs representing 20 Indian startups participated at the event and pitched before Chinese investors to make investments in their ventures. More than 350 Chinese Venture Capital (VC) funds, angel investors participated at the day long pitching session and seminar.

At the 1st Startup India Investment seminar, 12 Indian startups participated of which 4 secured funding from Chinese VCs of USD15 million. In the current round, 8 startups out of 20 participants are set to get commitment of around USD 30 million.

Zheng Bin, CEO of Industrial & Commercial Bank of China (ICBC) India, shared ICBC’s experience in India, gave an overview of the Indian startup ecosystem and explained the process of investment. He also informed that ICBC India has established a USD200 million fund for investing in promising Indian MSMEs and ventures, according to a PIB release. A panel discussion was also organised to discuss effective strategy for Chinese VC to enter the Indian startup market and share their experiences about the Indian startup ecosystem.

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