Goa’s startup scene looking brighter

Shoma Patnaik | NT

Giving a boost to the government’s efforts to improve the startup ecosystem, Venture Catalysts, a top seed and angel investor is soon setting up a Goa chapter.  The venture capital funding company is keen on finding India’s next promising startup from Goa. Venture Catalyst is India’s leading integrated incubator company. In 2019, it was ranked as the 7th most active angel and seed investor in the world.

The launch of the Goa chapter is going to be online on July 7 from 5- 7pm by Dr Apoorva Ranjan Sharma, founder, Venture Catalyst and Revathy Ashok, an angel investor. The digital launch will include a panel discussion on, Angels and Start-ups: Creating Wealth and Value.  Goan businessman Rajkumar Kamat, former president, GSIA is the local partner.

“With startups in the state finding it difficult to get capital from banks or angel investors, the entry of Venture Catalyst in the state is expected to fill a gap. The company’s model is bit different than other angel investing firms. It looks at investors even in small cities and towns.  I expect the company to identify investors in the state, viz. basically local businessmen who are not tech-savvy but keen to be a part of the startup boom,” said Kamat. He added that, the state scores high on work-life harmony. However it lacks proper venture capital ecosystem and Venture Catalyst entry offers immense opportunity to fill that void.    In a press statement, Sharma said, “Difficult times calls for innovative solutions. Some of the most valuable companies and unicorns were born during economic depressions and pandemics. We are always scouting for innovative and scalable startups and feel this is the right time to tap such startups. Our overall objective is to provide a much-needed fillip to the fledgling start-up ecosystem and provide the budding entrepreneurs here with the right mix of guidance, mentorship, and access to funds.”