Govin Capital, a Singapore based Venture Capital firm is planning to mentor and invest in med-tech startups from IIT-Madras. IIT-Madras has declared an MoU to this effect was signed with Govin Capital earlier this month.
Anand Govindaluri, CEO & MD of Govin Capital, said in a statement, “We are likely to conduct education programmes, boot camps and workshops for startup entrepreneurs of IIT and its alumni. We would also be focusing on incubating med-tech startups and investing in them, and creating an environment of open innovation whereby startups would basically be getting an opportunity to internationalize through our structure.”
Further, he added that the firm would be interested in startup exchange programmes for startups from Singapore could participate in IIT-M incubation cell programmes.
Govindaluri added, “They should look at IIT-M incubation cell as a launching pad for them to hit the Indian market”, further saying that, “And in return we are also happy to help internationalize our startups from India to abroad, predominantly in Singapore through our network.”
Govin Capital, a prompt investor in early investing, in early stage startup companies in India and Singapore has partnered with the government of Andhra Pradesh and has got about 7000sqft space of incubation space in Visakhapatnam.
Govindaluri said, “While we are looking at technology startups in Visakhapatnam we are also looking at basically expanding our Indian entity which is called SAI (Startup Accelerator India) in Chennai, Bangalore and other parts of India.We would like to develop what is called a clustered approach to acceleration of ideas and innovation”
A wide panel of industrialists who would be available as active mentors for the startups will also be followed by the MoU.
Head of the IITM Bio-Incubator, Prof Guhan Jayaraman, said, “We are excited to partner with Govin Capital for their specialized course, which will cater to start-up companies in the healthcare and biotechnology sectors. We hope that it will catalyze the growth and success of biotech and Biomed start-up companies incubated at the IIT Madras Research Park and elsewhere in the country.”
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