Humbled by overwhelming response for NAN Coimbatore Launch. 42 angels signed up and two investment announcements were made.
Nagaraja Prakasam, chairman and co-founder of Native Angels Network, said start-ups can be of three kinds. They can replicate models of successful ventures, tap the country’s strengths, and have disruptive innovation. The Angels Network will support grassroot innovation, those who have solutions to the city’s problems, and build businesses that will remain strong for years to come.
Angels come calling
Coimbatore has had some radical investments and innovative businesses – huge ventures – that fostered the city many years ago. Be it getting into textile machinery or setting up a viscose plant, these ventures manufactured quality products and generated jobs.
However, over the years, entrepreneurship became repetitive and there was no innovation.
“We need aspiration. There can be innovation in textiles, textile machinery, foundries, compressors, pumps and motors that are made here. There are opportunities in Coimbatore in all these sectors,” said Jairam Varadaraj, Managing Director of Elgi Equipments. He was speaking at the inauguration of Coimbatore chapter of Native Angels Network, which is a forum of angel investors, here on Monday.
Mr. Varadaraj spoke about the opportunities for innovation in not just technology-oriented areas, but also in the manufacturing sector. There were as many potential investors as potential innovators and hence resources should not be a problem, he observed.
Nagaraja Prakasam, chairman and co-founder of Native Angels Network, said start-ups can be of three kinds. They can replicate models of successful ventures, tap the country’s strengths, and have disruptive innovation. The Angels Network will support grassroot innovation, those who have solutions to the city’s problems, and build businesses that will remain strong for years to come.
According to R. Sivarajah, founder and president of Nativelead Foundation, Coimbatore has over 150 start-ups. The network will look at innovations in different verticals, apart from technology.
With about 40 investors in Coimbatore, the network has decided to invest Rs. 21 lakh first in a mobile application, developed by an Erode-based entrepreneur, for the mechanics in the unorganised sector. The network members will also invest soon in Buddies Café, a Coimbatore-based venture that serves 60 varieties of teas.
Mechanic app to raise funds from Coimbatore angels
When Sridhar Iyer graduated from Kongu College three years ago, he probably would not have dreamt that his idea would draw the attention of members of the Coimbatore chapter of Native Angel Network (NAN), a region-focussed angel investment forum.
But, as luck would have it, Sridhar’s venture “Mechanic App” became the first start-up to be funded by the regional investors. The 25-year old said that the app helps connect car and two-wheeler mechanics with customers on the one hand and auto component vendors on the other.
He has on date connected with over 600 mechanics in Erode District. He is looking to widen the base and launch the app in Coimbatore as well.
With the app, customers will be able to locate the nearest mechanic, know his profile and even fix an appointment for servicing the vehicle.
Pension scheme
Besides getting mechanics under one umbrella, Iyer is also trying to provide a pension system for them. A corporate group is said to be guiding this youngster to develop the application.
Iyer has indicated that he will require funds to the tune of ₹22 lakh in the first phase of this venture.
NAN Erode
First NAN Pitch at Erode – the first tier III city to get a Angel Network. It was attended by 28 Angel Investors from Erode. Four startups in decent customer traction presented their business plans. The session was Moderated by Mr.Nagaraja Prakasam, Chairman of NAN. We also organised live streaming for the benefit of our members in Coimbatore, Madurai and Trichy. Thanks to Tex Valley for all the support.
Crafting India’s Sustainable Growth Model – How Not To Copy China or the West
11 June – Saturday – Bangalore 09.30 AM – 2 PM Venue – Management Development Centre IIM Bangalore – Free Entry
Why The Conclave
India urgently needs an indigenous sustainability model which can be in harmony with its economy, society and culture. Such an all-round or holistic growth model could help India evolve as a vibrant nation, if not a super power.
There’s broad consensus that India CANNOT afford to follow the Western model of inequitable growth or the Chinese ‘grow now, pay later’ model. But there’s not enough dialogue, debate or conversation about what India should do instead.
No one has a problem with rapid growth with equity. Do we know how to achieve this balance? Do we have an idea what will happen to India’s eco-system if we if we grow between 8 and 10% and abolish poverty by 2030?
The governments – central and states – seem eager and serious about supporting clean energy and clean India. India’s commitment at the recent Paris Summit is laudable. How can we build on this momentum?
The effort should start NOW. Procrastination could result in India adopting a nasty cocktail of Chinese and the Western ways by default. The price India could pay could be very heavy.
Throughout our history, we have learnt from others while preserving our roots to forge forward. Can we do this again now?
The conclave will address the following questions:
- What are the models of all-round growth that India could pursue?
- How could India test and validate a few of these models by 2025?
- What are the key barriers to overcome in enabling a shared vision or focus?
- How can India’s culture and heritage be leveraged through such models?
Speakers & Program Schedule
Manoj Chakravarti (COO-IIMB-CCGC) &
Benedict Parmanand (Editor and Publisher – SustainabilityNext)
Prof. Ram Nidumolu,Sustainability Expert & CEO Innovastrat.com
Madhu Pandit Dasa, Chairman, Akshaya Patra
Dr. Ramachandra Guha, Eminent Environmental Historian
Associate Professor of Corporate Strategy & Policy, IIM Bangalore Panel Host
Impact/Angel Investor Impact Capital and Sustainable Model
Organizational Behaviour and HRM, IIM Bangalore Enabling People/Talent to Support the Model
Country Head, Sustainability, IKEA IKEA’s View of India Model
Partner, Sustainability, KPMG India model from a consultant’s lens
Research Director, YourStory.com Role of Knowledge Management/Technology
Host Prof. Ram Nidumolu
Who should attend
Business leaders, entrepreneurs, executives and students interested in understanding the future dynamics and challenges that India is going to face and how they can contribute to it.
All sustainability, CSR professionals and those working in the space of ecology to learn about how they can enhance their impact.
Faculty of business schools and engineering colleges – enhance their appreciation of the complexities of India’s future so that they can groom their students accordingly