Sustainable Business Model is key to Startups Funding
– Investors advice startups on funding their enterprise
– Startup Chamber of Commerce (SACC) organises investors-startup meet
Chandigarh: Startup Accelerator Chamber of Commerce (SACC) organised an investors-startup meet at SPIC Entrepreneurship Development Centre Chandigarh IT Park here yesterday.
Some of the leading investors met the tricity startups to help them in “Decoding Startup Funding”
Around 80 startup founders from all over the city attended the panel discussion that featured some of the successful angel investors of the region.
Vineet Khurana, CEO of SACC India moderated the panel discussions with Munish Jauhar, an investor in more than 150 startups, Bobby Garg, founder of Passion Gaming, and Sanjit Singh, partner of Modular Capital, a venture capital firm.
Munish Jauhar underlined the importance for the founders to build a solid business plan, a clear vision, and a strong team. He also highlighted the need for startups to be able to demonstrate traction, a strong customer base, and a scalable business model.
Bobby Garg, the founder of Passion Gaming shared how his company founded seven years ago made use of the right opportunities at the right time and raised funding from prolific investors.
Passion gaming has its presence in Panchkula and Gurugram and employs a team of over 150 developers. Bobby candidly shared his challenges of building a strong technology team in a tier-2 city like Panchkula.
Sanjit Singh stressed the startup founders must be able to articulate their value proposition, the scope of the market potential, and strong knowledge of the competitive environment.
The expert panelists said that emerging trend in 2023 for funding a startup involves a clear vision of the founders, their clear path to profitability and ability to demonstrate viablility and sustainability of their business model.
The participating startups also received helpful advice on creating a strong pitch and the essential elements of a startup funding process In order to raise money for their enterprise.
SACC India’s CEOm Vineet Khurana, informed that SACC is a unique voluntary organization which initiated the move to help the startups and since 2014 had been actively engaged in building a strong startup ecosystem in the region, having sensitized over 300,000 students and professionals on entrepreneurship, runs 5 startup incubators and a co-working community in northern India, incubates over 200 startups and has a large mentor pool of 300 successful entrepreneurs and investors.
