GrowVC Launched Local Funding Network In India

By ajay at July 27, 2010 | 4:54 am | Print

GrowVC Launched Local Funding Network In India

In what could be a defining milestone in Indian entrepreneurial development domain – Grow VC, the ‘Virtual Silicon Valley’ software platform and world’s first-ever ‘Crowd-Funding’ and interaction platform for startups announced the launch of a local funding network in India, in association with Springboard Ventures – an ensemble of experts dedicated to promoting start-ups. Based around the same model as the existing global funding network Grow VC offers, the Indian local funding network will be the first of many “local” networks the company looks to launch within its wider global network in the coming months. Grow VC’s community platform for entrepreneurs who are looking to grow their early stage startups through the “crowd-funding” has already gathered considerable interest with hundreds of new sign-ups each month and active participation of investors, startup service providers, advisors and entrepreneurs within the online community.

Grow VC works to create a “Virtual Silicon Valley” community and develop new models for more efficient early phase funding. Grow VC just announced the Virtual VC Co-investment Fund to enable VC’s to participate in Grow VC’s seed investments. IndiaCo a leading investment management firm from India is the first partner to come aboard the fund and has committed to invest $5 million to the virtual fund will pave the way for other VC’s to join the fund. The local network in India will be spearheaded by Springboard Ventures creating a tailored network suited to Indian needs and culture.

The launch of Grow VC India will pave the way for many ‘firsts’ in the innovative start-ups domain within the country as pointed out by Satish Kataria – Managing Director at Springboard Ventures. “It would be the first ever single platform to bring together the various entities which revolve around the creation and growth of start-ups while allowing them all to interact and work together with each-other. Besides uniting angel investors and entrepreneurs, this platform offers a first-time opportunity to various experts and consultancies to now come forward and offer their services to start-up community through innovations such as ‘Service Investments’.“ says Satish. This will essentially help enhance the ‘funnel’ or ‘bandwidth’ of support to Indian entrepreneurs bringing into the system not just funders, but experts, advisors and other resources which can help create and grow successful start-ups.

Indeed, as a significant start towards this journey of bringing all key Indian entities together, Indian Angel Network – India’s first and largest network of Angel Investors – having more than 125 members throughout the country, have agreed to associate with Grow VC India – in order to further strengthen and boost Indian start-up eco-system.
With India having the innovative talent and technological capabilities present today the Grow Venture Community (Grow VC) India hopes to extend the support of investors, advisors, service providers and the entrepreneurial community in general much the way enjoyed by the community in the Silicon Valley for so many years. “With the support of a strong local network in place to back great ideas and assist in the growth of early stage start-ups we expect to see a lot more successful ventures come out of this potential goldmine of young talent.” says an optimistic Valto Loikanen Founder & CEO at Grow VC. “The next Google or YouTube can come out of India and with the right network of people working together to discover and nurture innovative start-ups, it could be sooner than you think”, Valto states.

Grow VC
Grow Venture Community – “The Virtual Silicon Valley”, is bringing the first truly global, transparent, community-based approach to seed funding. Grow VC can help startup to secure initial funding for their businesses up to 1m USD. Grow VC will not only connect startup entrepreneurs with investors to help them discover their common interests, but also provide tools for the process and new transparent ways of doing things. Grow VC India is available in Grow VC international headquarters is located in Hong Kong, with offices in UK and Finland.

Jouko Ahvenainen, jouko [at], +44 7889 833 165
Founder & Chairman

Springboard Ventures
Springboard Ventures is an ever-evolving group of experts, coming from different professional domains but united by the passion to launch ‘disruptive solutions’ which would strongly boost Indian start-up support infrastructure. Through keen understanding of challenges in the eco-system and then by adapting and introducing newer support mechanisms and platforms – Springboard Ventures envisions to be true ‘Start-up’ enablers in the country – which is revered for its ideas and business leadership.

Satish Kataria, satish [at] , +91 99679 72553
Managing Director


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