* TiE Bangalore Angels, a recently formed Special Interest Group of TiE Bangalore with around 80+ Charter Members interested in angel investing, and LetsVenture announced a partnership to support early-stage entrepreneurs through investments & mentoring.
* On the occasion of National Start-up Day, one of the first challenges that have been launched is the U-30 Founders Challenge for early-stage startups. The challenge is sector-agnostic and open to startup founders below 30. Applications close by February 15, 2023.
* Up to ten early-stage shortlisted startups can bag cumulative funding of up to $250K with access to mentors and investors.
TiE Bangalore Angels, a special interest group of TiE Bangalore and India’s leading startup investment platform LetsVenture have signed a partnership with the vision to enable growth opportunities for early-stage founders in the Indian startup ecosystem.
As part of the partnership, on the occasion of National Startup Day, TiE Bangalore Angels and LetsVenture have announced the U-30 Founders Challenge, inviting disruptive early-stage founders across India to apply. Based on stringent shortlisting & screening criteria, around 10 startups will be eligible for cumulative investments up to $250K. Applications open today and close by 15th February 2023. The process of selecting the start-ups for investments will be completed by end-March 2023.
Application link: https://bit.ly/U30-FoundersChallenge-TiE
Madan Padaki, President, TiE Bangalore, said:
" Enabling access to funding & investors is one of the key pillars of TiE globally and we are delighted to launch TiE Bangalore Angels formally with a group of over 80+ Charter Members committing to invest in early-stage start-ups. We are also excited to partner with LetsVenture to enable our start-ups to access a much larger pool of angel investors. The U-30 Founders Challenge is the first of many Challenges that we will roll out through this partnership. Of course, TiE Bangalore will continue to offer additional support to entrepreneurs by way of mentorship, access to markets and customers”.
Shanti Mohan, Co-founder & CEO of LetsVenture and trica, said: “As India drives the wave of entrepreneurship, we are excited to partner with TiE Bangalore to discover and enable young entrepreneurs of the country. At LetsVenture, we have been seeing young and disruptive entrepreneurs for almost a decade now and the experience is still always refreshing. We hope many entrepreneurs apply for this challenge so we can help expand their entrepreneurial horizons. We believe LetsVenture and TiE can offer valuable mentorship and the right networking opportunities."
LetsVenture and TiE Bangalore encourage early-stage startups with innovative ideas and solutions for India-specific problems to participate in the contest. In addition to funding, founders will get a chance to pitch to reputed ecosystem investors, receive mentorship as well as opportunities to network with investors and ecosystem enablers, among other things.
The U-30 Founders Challenge is the first of many initiatives to come and LetsVenture and TiE will continue to engage and enable founders and investors to boost the ecosystem at large.
Founded in 2013, LetsVenture is today organizing India’s private market by making the process of fundraising easy, efficient, and transparent for both startups and investors through its proprietary tech platform and bringing value-added products to the market.
In the last 9 years, startups have raised $120M across 600+ rounds and the marketplace have 29 Syndicates, 17000+ Angel Investors from 60 countries, and 100 Micro VC Funds.
LetsVenture is backed by Accel, Chiratae Ventures, Nandan Nilekani, Ratan Tata, Rishad Premji, Mohandas Pai, Sharad Sharma, and Anupam Mittal, among others.
About TiE Bangalore
TiE Bangalore is a chapter of The Indus Entrepreneurs (TiE), a global nonprofit organization focused on supporting entrepreneurship. With over 2,500 members, TiE Bangalore is one of the largest chapters of TiE and plays a key role in supporting the startup ecosystem in the Bangalore region.