The Indian Angel Network, a collection of angel investors which focuses on early stage startups has opened an office in Kolkata, TechCircle reports. The office is supposed to be an entry zone for the Angel network to focus on startups, ideas and early stage ventures in the Eastern section of India which has not yet felt the full force of the Indian startup growth.
Currently, the network operates in metros like Mumbai, Delhi, Hyderabad, Bangalore and Pune. The network has realized with increasing Internet growth throughout the country, it is time to focus on other cities and ecosystems around the country rather than focusing solely on regions where the ecosystem is much stronger. Eastern India has the same amount of potential compared to the rest of the popular startup cities, because of the tech penetration and potential of solving various consumer pain points locally in Eastern India, after which startups could break into the national mainstream.
Padmaja Ruparel, President of the Indian Angel Network had this to say about IAN’s Eastern India Foray.
“We are already being approached by entrepreneurs from eastern India, with their business plans and that has encouraged us to launch IAN in this region. Startups are critical for any economy, as they create employment and wealth. Angel investing is critical to support startups in West Bengal, Bihar, Orissa and the northeastern states”.
The Indian Angel Network has a wealth of prominent entrepreneurs and angel investors who are on the lookout for interesting ideas. That being said, the startup ecosystem in India as whole is still in a fledgling space. It has a long way to go and as long as Startup ecosystems get localized in particular cities, the growth across the country in a uniform fashion is difficult. It is important to slowly break down the city barrier and establish a framework for startups in every Indian region. Granted that cities like Bangalore, Mumbai and Delhi have a headstart in this process but it is equally important for other regions to join in and collectively build a stronger entrepreneurship culture and network across the country. This is a good step taken by the IAN and will definitely help startups and entrepreneurs in seeking advice and basically putting their ideas into a definitive place. Another such example would be the Startup Village initiative which has been set up jointly by MOBME Wireless and the Kerala Government, which aims to promote tech entrepreneurship in Kerala.
Source | Techcircle