Visakhapatnam: An Investors Meet was conducted at the Sunrise Incubation Hub on ITSEZ Rushikonda here on Tuesday, where 20 shortlisted startups pitched their products to the investors and innovators. AP Innovation Society in association with Federation of Indian Chambers of Commerce and Industry (FICCI) & the IC 2 Institute of the University of Texas at Austin organised the event. 20 startups had been filtered from 200 and the shortlisted ones pitched their products to 8 investors.
The Investors Meet was attended by senior investors and selected innovators. The purpose was to connect the investors with high-potential technology startups from XLr8AP and other APIS programmes. XLr8AP is a startup accelerator and joint venture of AP government, FICCI and IC2 Institute. The vision for XLr8AP is to establish a world-class technology innovation ecosystem, with a view to creating jobs and wealth in the Sunrise state, working with technology startups in the advanced capacity building, acceleration into the global marketplace and mobilisation of venture capital.
The ultimate goal of the event was to generate interest in investment in selected companies, based on the presentation of their value proposition and market entry strategy to the investor panel. Since commencing its first cohort of 33 companies on 19 September 2016, the companies in Xlr8AP portfolio have achieved in excess of US$3.4 million in incremental revenue, with over 200 commercial deals in various stages of development.
