Gurugram-based Inflection Point Ventures, an angel investment platform, has announced a strategic partnership with the BITS Goa Innovation, Incubation & Entrepreneurship Society (BGIIES) as it looks to support and fund social and impact startups being incubated at the campus.
The BITS Goa Innovation, Incubation & Entrepreneurship Society runs the incubation centre of BITS Pilani - Goa Campus and has been registered with BITS Pilani KK Birla Goa Campus, one of the most reputed Science and Technical Universities in India, the statement said.
BGIIES Goa aims to strengthen the startup ecosystem in the region and enable entrepreneurs by providing them with mentoring and capital to launch disruptive and impactful startups.
Ankur Mittal, Co-founder of Inflection Point Ventures, said, “IPV works closely with more than 25 exclusive communities associated with E-cells, universities, colleges, and alumni associations including IITs & IIMs, across India. Alumni communities and campus startups have always been of great importance to us as some of the best startups have originated from them."
"Additionally, our Campus Connect programs allow our portfolio companies to collaborate with and hire from top colleges. BITS Pilani KK Birla Goa Campus is a new territory for us, and with this collaboration we look forward to funding startups from the college's incubation cell for the first time. In addition to replicating this model with our existing college network, we are confident of seeing stellar results. It is in our DNA to support entrepreneurs throughout the country," said Ankur.
According to the statement, The partnership will have multiple facets with the aim of fostering an entrepreneurial culture among the students. BGIIES – BITS Pilani Goa and IPV will be co-hosting industry-level events where top VCs and angels will be mentoring startups by providing them industry access and capital.
The investment firm will be leveraging its industry connect with the top VC funds to foster one on one connections with high-potential young founders and also supporting them with seed capital.
Tarun Krishnakumar, General Manager of BGIIES Incubator, GOA, said, "IPV has collaborated with BGIIES to build a robust startup ecosystem for incubated startups. As a result, efficiencies will increase, good startups will have the opportunity to scale early, and long-term value will be created across the nation."
"The MoU will help IPV share their knowledge and expertise with us, to improve startup & investor experiences and ensure future growth," Tarun said.
Through this partnership with BGIIES - Goa, BITS Pilani alumni network, and startups, IPV will be able to formalize startup investments which will allow the alumni and members of the institution to evaluate and participate in startups emerging from The BITS Goa Innovation, Incubation & Entrepreneurship Society (BGIIES), it said.