Anthill Ventures comes forward to help budding entrepreneurs in Vizag
Startups in Visakhapatnam, mainly involved in financial technology, will get access to funding from the firms based in leading fintech hubs in India as well as those under the network of W-Hub, which is an important representative of startup ecosystem of Hong Kong and Govin Academy and its India partner Startup Accelerator of India and NTUtitive Pte Ltd of Singapore.
The need to bring global network of firms was discussed threadbare at the recently held Vizag Fintech Festival. Seeing huge potential for the growth of startups in Visakhapatnam, Anthill Ventures, global speed-scaling ecosystem for startups has come forward to invest in early stage companies to scale up and raise funds within 12 to 18 months.
Devang Mehta, partner at Anthill Ventures, told The Hindu that fintech was a clear focus area for the new fund created by them exclusively for startups with futuristic vision.
“We are seeing a good amount of quality startups coming out of Andhra Pradesh and there is a strong talent pool borne out of graduates from GITAM, IIM Vizag, and other premier institutions,” he said.
The firm has promised the government to foster entrepreneurship.
He opined that fintech startups have large addressable markets both at consumer and enterprise market. The former is borne out of the sheet market size and the latter because of larger financial services companies which have been traditionally lagging at organic technology innovation.
Anthill, he pointed out, wanted to help startups scale with speed by providing critical market access that helps them acquire new customers -- something which is usually a very difficult task for early stage companies.
“Moreover, we help with refining business plans, rounding out management teams and other areas important for startup growth,” he said adding they had funded 22 startups so far.
First Published On: https://www.thehindu.com/todays-paper/tp-national/tp-andhrapradesh/funding-startups-to-get-access-to-global-network/article25375545.ece