The unique event witnessed the participation of nearly 100 startup founders
Anicut Capital, a leading Indian investment firm, organised a one-of-its-kind ‘startup open house’ in partnership with the Technology Business Incubator at Thiagarajar College of Engineering. The event was aimed at empowering startups from South Tamil Nadu by fostering a sense of community among founders and exposing them to how investors approach startup funding. The open house was marked by the presence of 80+ startups from various cities in the region.
Motivated entrepreneurs from several Tier 2 towns of South Tamil Nadu were presented with the opportunity to interact, network, and pitch their innovations and ideas and scale their business propositions. The event saw disruptive ideas across domains and industries, with entrepreneurs introducing the room to a host of products and innovations. Businesses present at the event included a customer engagement platform for fitness instructors, an organic health food brand based on banana flower, an AI-based solution for traffic management and a climate-tech platform focussed on carbon emissions and ESG compliance for global customers.
The event was felicitated by Mr Venkatesh Ramarathinam, Founder of Vuram, who gave the keynote address and shared valuable lessons on entrepreneurship and leadership from his own journey towards startup success.
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“The nation has witnessed an array of startups sprouting from Tamil Nadu and with such open house events, we look forward to nurturing the ecosystem and propelling the next set of unicorns from the region. Startup founders often need concentrated efforts, networking and nurturing to ensure sustainable growth and build a robust ecosystem. Most startups and unicorns to date have their origins in Tier-1 cities. However, we believe the next wave will belong to Tier-2 cities and beyond. I am hopeful that this event will instil confidence in young entrepreneurs and provide the inspiration they need to build the next unicorn of India”, said, Venkatesh Ramarathinam, Founder & CEO, Vuram.
“This unique initiative from Anicut will surely lift the spirits of young entrepreneurs looking to make their mark in the country’s journey towards a $5 trillion economy. We are delighted to have partnered with Anicut for this opportunity of networking, dialogue and inspiration. We are confident this will pave the way for our students to come up with innovations of their own and put this region on the startup map of India”, said, K. Hari Thiagarajan, Trustee, Thiagarajar College of Engineering.
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“This is the first-ever initiative by Anicut to bring together the roots of India and intertwine it with the agendas of development. Young entrepreneurs from tier-2 cities have a significant impact on our society and the economy. Local industries are being digitised and modernised utilising their innovations leading to employment and development. As we near the dawn of 2023, their success can be infectious and motivate the youth to focus on their passion projects. I am ecstatic with the number of startups who participated today and showcased their impressive innovations to our team. We look forward to making investments in the region and encouraging an ecosystem of growth”, said, IAS Balamurugan, Founding Partner, Anicut Capital.
Over the last 7 years, Anicut Capital has invested in multiple iconic start-ups in India such as, Bira, Kaynes Technologies, Lendingkart, Wow! Momo, Milky Mist, Agnikul and Sharechat amongst others. So far, Anicut has a debt portfolio of 34 startups and an equity portfolio of 55 startups across the country.
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About Anicut Capital
Anicut Capital is a multi-asset financial institution with offerings in debt and equity. Anicut currently manages two debt funds (GAF-1 and GAF-2), Anicut Angel Fund and Anicut Opportunities VC Fund. Cumulatively, Anicut manages an AUM of INR 1600 crores with investments in early and growth stage start-ups. Anicut’s portfolio companies include brands like Wow! Momo, Bira, Sugar cosmetics, Earth rhythm, Wingreens, Blue Tokai, Sharechat, Mcaffeine, Milkymist, XYXX, Curatio Healthcare, Agnikul, Grip Invest, to name a few.