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Fri, 19 Apr 2019

Northeast Today

Imphal Angels Hosts First Ever Biggest North East Startup Summit 2019

Imphal Angels Hosts First Ever Biggest North East Startup Summit 2019
February 08
12:05 2019

NET Bureau

Imphal Angels on Wednesday hosted the first ever North East startup summit 2019, the biggest startup event in the Northeast at Hotel Imphal where various prominent entrepreneurs, investors and other ecosystem partners gathered. JCRE Skill Solutions was the title sponsor of the event.

Prominent entrepreneurs like Fahad Moti Khan, CEO Technology 9 Labs, Vipul Saini, Head partnership, NASSCOM 10,000 startups, Yasuhiro Seo, partner at Spiral ventures, a Japanese VC farm, Manoj Kumar Basumatary, CEO and Co-Founder Symbiotic Foods, Nickson Sharma, Venture capitalist, North East Venture Fund and Lian Thangvung, Founder and CEO, Thangvung Privilege Services Pvt Lt spoke as resource persons.

Manoj Kumar Basumatary, CEO and Co-Founder Symbiotic Foods, a farmer from Assam, whose commercial pig breeding got VC funding narrated as to how become a successful entrepreneur amidst various hurdles and hardships. Stating that Pig breeding business is a lucrative business which can change one’s life with the demand of pork being high in the northeast, he said northeast the best market for pig and the present pork productivity cannot meet the Northeast demand. Narrating about his visit to a piggery farm in Karnataka, he said he found 22 people from Northeast working in a piggery farm for a small salary. “At a time when the Northeast is the best market for pork, Why the northeast people should go a long way for earning rather than initiating the same business here”, he questioned.

Pointing out that Banks were reluctant to provide him even 10 lakhs worth loan at the initial stage of his business, he said Banks have approached him to take loan worth crores after witnessing his successful business venture. He said he left Bank job to start his piggery farm. 
Agriculture is a sector where a lone farmer cannot create a business ecosystem without collaborative effort, he added.

Fisher Laishram, Governing member, Imphal Angels,  while delivering introductory speech regarding the Startup summit 2019, said that the 
first NE start up event was organized by the Imphal Angels to bring the various ecosystem players like aspiring entrepreneurs, startups, 
mentors, investors, VC funds, and local industry on one common platform to promote entrepreneurship and to build a robust startup and innovative ecosystem in North-East India. It aims to create a vibrant and diverse startup ecosystem in North-East India, he said.

Stating that startup entrepreneurs are facing various challenges and hurdles in terms of funding, technical know-how and inputs, Imphal 
Angels was initiated by 9 likeminded entrepreneurs to help resolve the issues confronting the early-stage business.

By becoming a member of Imphal Angels one will have a unique opportunity to become an early stage investor of some of the most innovative ventures from the region, which are largely untapped, and not only gain financially but also have an impact in the economic development of the region, he said.

Apart from the capital investment, the company will help the entrepreneurs with timely mentoring and access to their large network of 
industry experts and VC funds, he said.

Five things being carried out by Imphal Angels include Incubator and Accelerator, Startup mentoring, Startup services and partnership 
opportunities, he added.

A startup pitch completion for the 10 selected startups was also held. Near from Assam, Hill Wild from Manipur, North East App from Nagaland, IWARI from Manipur, Medilane from Manipur, ELGAE TECH from Manipur, Tenderbud Tea from Assam, KAKSOI from Manipur, NIBIAA consultancy from Manipur and Hillsland Education from Manipur pitched for their business.
Top 3 winners of Startup Pitching Competition were selected. The winner goes to Hillsland Education. While 2nd and 3rd positions went to 
Medilane Healthcare and Hill Wild, respectively. An Angel funding worth Rs 1 lac was provided as cash prize to the best startup company.

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