Angel investment scenario in India, has seen a significant rise in past two years, but still access to the angel investors who understand startup continues to be a roadblock. To address the early stage investment problem that many entrepreneurs face, LetsVenture has launched LetsIgnite, an angel summit, aiming to connect startups to the angel ecosystem.
The main highlight of LetsIgnite would be “LetsIgnite Startup Competition”. From all the applications received, 30 of the startups would qualify for the next voting round. According to the votes from the Angel Investors, the top 5 startups would be selected to pitch for live funding to the jury of selected angels and VCs. The first LetsIgnite summit is scheduled to be held on April 22.
Besides the startup competition, the summit also focuses on highlighting the angel investment trends, best practices for angel ecosystem and global angel investment perspectives.
Speaking about this initiative, Shanti Mohan, Founder and CEO of LetsVenture said “LetsIgnite is an initiative to continue to make a difference – hence the event is highly curated both for angel investors and startups as we want to make meaningful introductions for investors and startups. Investors have the opportunity to meet people from non-overlapping networks and create relationships with other angel investors, as well as meet some great entrepreneurs who are raising their angel round. Startups raising 1-4 Cr would be shortlisted, which makes this a ‘serious’ angel event.”
According to Sharad Sharma, Founder and Governing council member of iSpirt, “Entrepreneur for the first time has a choice. This is the version 2.0 of investor pitching events.”
LetsVenture is an online platform that acts as a bridge between startups and investors and also facilitates angel and seed investments. Founded by Shanti Mohan and Sanjay Jha in 2013, last year alone, $6.5 Mn was raised on LetsVenture’s platform across 23 deals and 4900+ connections were made.