The School of Comparative Indic Studies and Tribal Science, in collaboration with the Centre for Indigenous Science and Technology, Kalinga Institute of Social Sciences (KISS) Deemed to be University (KISS-DU), Bhubaneswar, organized a session on “Angel Investment/VC Funding Opportunity for Early-Stage Entrepreneurs” under the banner of Institution Innovation Council (IIC), Ministry of Education (MoE) . The session was led by Dr. Vimal Kumar Pandey, Associate Professor and Co-ordinator of Start-Up Activities, IIC at KISS-DU, who shared valuable insights on funding opportunities for early-stage entrepreneurs.
Dr. Pandey began the session by emphasizing the importance of securing the right type of funding at the early stages of entrepreneurship. He highlighted how startups, especially those coming from incubators, can tap into various funding avenues such as government schemes, angel investors, and crowdfunding.
Dr. Pandey discussed several prominent government schemes aimed at supporting startups, including:
- Social Innovation Immersion Program (SIIP)
- Biotechnology Ignition Grant (BIG)
- BIG North-East Special Call
- BIRAC SEED
- BIRAC LEAP
- DST NIDHI PRAYAS
- Rashtriya Krishi Vikas Yojana (RKVY) – RAFTAAR (Remunerative Approaches for Agriculture and Allied Sector Rejuvenation)
He explained how these schemes provide financial assistance, mentorship, and incubation support, which are vital for startups to scale up their operations and take innovative ideas to market.
Dr. Pandey stressed the role of angel investorsin providing early-stage capital and strategic mentorship. He introduced students to various angel networks such as:
- Indian Angel Network
- Mumbai Angels
- Lead Angels
- Chennai Angels
These angel investorsare essential for young entrepreneurs to raise initial funding, receive mentorship, and expand their network within the entrepreneurial ecosystem.
- Crowdfunding as an Alternative
He also touched upon crowdfunding, highlighting it as an emerging funding method where entrepreneurs can gather financial support from a large number of people, often via online platforms, to kickstart their ventures. Crowdfunding can be particularly useful for startups with innovative, socially impactful ideas that can attract public interest.
Dr. Pandey also addressed various queries related to pitching ideas, preparing business proposals, and the specific steps to apply for funding opportunities.
The session provided the 30 participating students with a clear understanding of the various funding opportunities available for early-stage entrepreneurs, from government grants to private investors. Dr. Vimal Kumar Pandey’s insightful talk empowered students to explore funding options and take advantage of existing resources to turn their entrepreneurial dreams into reality.
