New Delhi, June, 2022: In a bid to encourage collaborations among the start-up ecosystem in India, Pontaq, a cross-border innovation fund that invests in early-stage technology businesses in the UK, India, the US, and Canada, organised first-of-its-kind investors summit — ‘Portfolio Day 2022’.
Mahesh Ramachandran, General Partner, Pontaq, said, “At Pontaq, we help entrepreneurs scale at scale. We not only provide the required funding but mentorship and access to customers.”
Aimed at encouraging the start-up ecosystem in Tamil Nadu, an MoU was signed between Pontaq and Tamil Nadu Startup and Innovation Mission, Chennai, a Non-Profit Company supported by the Government of Tamil Nadu. As per the MoU, the government will facilitate Pontaq-supported companies to expand business operations in the State.
The inaugural session was addressed by Mohan Kaul, Chairman, Pontaq, Arvind Kumar, DG- Software Technology Parks of India (STPI), Prem Barthasarathy, Managing Partner, Pontaq and Adam Taylor, Head of Economics and Finance, Foreign, Commonwealth, and Development Office. “India has the 3rd largest start-up ecosystem in the world and it is thriving by the day. We are producing unicorns every year because of our ability to transform businesses faster than any other country in the world. STPI is working tirelessly to provide support to entrepreneurs who are trying to solve real-life problems. Pontaq is an important partner for us and doing a wonderful job as our fund manager. We invested 60 crores in NGIS scheme with a mandate for Pontaq to bring additional 60 Crores. However the fund has overachieved its targets within a year and is looking to raise up to 750 Crores” said, Arvind Kumar, DG, STPI.
The event witnessed enthusiastic participation by 50 tech-based start-up founders. Some founders presented their business idea during the four Pitch sessions and shared their start-up journey, vision, and how they are solving a real-world problem using new-age technologies like AI and IoT.
KT Rama Rao, IT Minister, Telangana, virtually attended the event and answered the questions of entrepreneurs related to the business opportunities in the State. He encouraged them to visit the State and explore suitable opportunities.
Prem Barthasarathy, Managing Partner, Pontaq, said, “We at Pontaq are working to provide a seamless experience to entrepreneurs to realise their business dreams. We are trying to create a conducive start-up ecosystem by bringing different stakeholders together and ensuring collaborations.”
Pontaq released a booklet highlighting 50 different innovations across 773 districts in the country supported by the company which are solving real world problems in order to deliver quality life to the citizen. This booklet is the summary of the research that the company conducted in collaboration with different startups.
Shankar Sai, Founder, Sputnik Brain, said, “Pontaq is a visionary fund that has tremendously supported us in the creation of next-gen technology solutions that can impact a huge population. A gathering like this enables start-ups to get access to the investors’ community & interact with the government officials.”
Headquartered in the UK, Pontaq specialises in cross pollination of technology between these geographies and beyond, unlocking significant value for both its investee companies and its investors.