Photo Source: Babushahi Bureau
Punjabi singer Sukhbir funds startup at 'Transform 7.0'
Boost to Startups: Punjab Angels Network organizes 'Transform 7.0'
Sahil Makkar, CEO Punjab Angels Network: "Now, startups across India are looking up to the region for funding."
Chandigarh, June 10, 2023: In what can be termed as a major boost to the startup ecosystem of the region, famous Punjabi singer-cum angel investor, Sukhbir as a co-investor has funded a startup at 'Transform 7.0', organised by Punjab Angels Network, an organisation working towards creating a startup ecosystem in Punjab.
Realtime Angel Fund, Punjab Angels Network and Sukhbir together have invested a whopping Rs 1.25 crore as 'funding' to a Mumbai startup ReDesyn.
A cheque of Rs 1.25 crore was handed over to ReDesyn. Notably, this is the first time that investors from the Punjab region have infused such a big amount in a startup company. CA Sahil Makkar,Founder and CEO,Punjab Angels Network said, “In the last decade we have witnessed a paradigm shift in India’s startup industry and Punjab is now being seen as an important player in providing impetus to the industry through the funding of startups in different parts of India . Today’s funding will further increase the morale of startup founders not only in Punjab but other parts of the country too. Now, startups across India are looking up to the region for funding. This will help in building a vibrant startup ecosystem in the region. I am also happy that like other metro cities, Punjab - particularly Mohali is fast emerging as a hub for startups.”
Sukhbir said, "The main objective of 'Transform 7.0' was to create an opportunity for entrepreneurs to showcase their startup ideas in front of potential investors and to develop a startup culture in the region. I am quite excited as Punjab's startup scene is looking up. As an angel investor I am on the lookout for some great startup ideas that I can support."
In a remarkable session titled ‘Unlocking the Melodies of Entrepreneurship’ which was a part of 'Transform 7.0';Sahil Makkar, spoke to Sukhbir and touched on different issues such as investors’ role in startups, growth of start-up ecosystem in Punjab and challenges, etc.
The event also saw an engaging pitch session, where young entrepreneurs from places like Delhi, Mumbai, Madhya Pradesh, and Bangalore etc presented innovative startup ideas to the potential investors, including Sukhbir.
Apart from Sukhbir the other angel investors on panel were Sandeep Sehgal, an investor from Singapore; Amit Singal, Founding Partner , Fluid Ventures and Satish Arora, Co-founder, AppSmartz.
In an interesting panel discussion titled ‘Successful Entrepreneurs from the Region’' Saurabh Munjal, Co-founder of beverage label Lahori Zeera shared his inspiring entrepreneurial journey with the audience.
During the discussion, Munjal and other panelists that included Anuradha Chawla, International Speaker, Coach, Author, & Corporate Trainer; Vikram R. Singh, Founder & CEO, Antier and Radhesh Soni, Founder & CEO, Emicon Advisory Services shared valuable insights through their work experience and motivated the budding entrepreneurs to achieve big in their lives.
In the session - 'Ecosystem Enablers - Creating impact in the Region' moderated by Govind Kaushik, Vice President, Punjab Angels Network, panelists highlighted how startups collaborating with each other can build an effective startup ecosystem in the region. The panelists included Amit Madan, President Amritsar Founders; Dr Karminder Ghuman, Head Venture Lab-Thapar; Satyendra Singh, CEO, TBI-IISER and Harit Mohan, The Indus Entrepreneurs(TiE).
Kaushik said, “Building an eco-system is indeed a challenge but by focusing on startups' basic needs and fulfilling these we can surely build a startup eco-system in Punjab. In this vein, Punjab Angels Network bridges the gap between investors & startups and provides an immense support in all matters like Legal, financial and marketing etc.”
In a positive development, Punjab Angels Network is all set to release funds amounting to Rs 5 crore which will be invested in startups in the coming months. The funds are aimed at fuelling the startup industry of the region.