Sun, Dec 4, 2016 | updated 09:51 PM IST

Faridabad to host India's biggest startup event this weekend

Updated: Oct 20, 2016 18:20 IST

New Delhi [India], Oct. 20 (ANI): The Ideaz Factory has announced that the second edition of Startup Jalsa will be held on October 22 and 23 at Manav Rachna International University located on the Delhi-Surajkund Road in Faridabad.

More than 1000 delegates are expected to attend Startup Jalsa this year. Hosted by The Ideaz Factory and powered by Gionee, the two-day startup festival helps entrepreneurs add value by showcasing their business offerings to the investors and raising funds ranging from Rs.10 lakhs to Rs.10 crores.

Entrepreneurs will also get to meet successful business leaders from Escorts, Gionee, YES Bank, Knowlarity, Commonfloor.com, Indo-European Business Forum and others.

Nitin Narang, the festival director of Startup Jalsa and the Founder of The Ideaz Factory, says, "According to a recent industry report, more than 40% of startups have failed in the last two years out of which 75% of their founders never tried their hands at entrepreneurship again. We believe that the startup ecosystem needs supervision of mature leaders to enhance its success rate. We conceived Startup Jalsa with a vision to add a new perspective and bring the focus back on the basics of business building instead of quick valuations and fame. We have created a platform where India's new generation entrepreneurs can interact with successful traditional business leaders with a proven track record of creating and scaling businesses profitably. We are privileged that Shri Vipul Goel, Haryana's Minister of Industries and Commerce has consented to be the Guest of Honour at this year's event." Rao Narbir Singh, Haryana's Minister of PWD will also deliver the closing keynote address, added Nitin.

Vipul Goel, Minister of Industries and Commerce, Environment and Industrial Training, Government of Haryana, says, "After a successful edition in Chandigarh, we look forward to welcoming almost a thousand start-ups again this year at Startup Jalsa in Faridabad. The Haryana Government has taken several initiatives to boost the entrepreneurial spirit in the state. We are empowering industries through easy finance and investments. We have established 19 clusters dedicated for small and medium businesses and are creating a Rs.1000 crores fund for them. We will also provide collateral free loans of up to Rs.1 crore to startups. We are also setting up a 16-acre startup warehouse in Gurgaon in partnership with NASSCOM. We have also reduced the minimum land requirement for townships in the state from 100 acres to 25 acres, which will boost startups. Faridabad, a major industrial hub shortlisted for development as a Smart City, offers a lot of potential to emerge as the next hub for startups."

Nitin adds that the Startup Jalsa team's passion has been further buoyed this year with Prime Minister Narendra Modi's recent speech in which he remarked, "Start-ups have always been the engine of progress. When each of the five hundred odd towns produces ten startups and each of our six hundred thousand villages produce six small businesses, on a regular basis, we will create an enormous economic momentum and generate a huge number of jobs in our country. I see startups, not as short term investments, but as long term commitments."

Startup Jalsa 2016 will feature more than 50 speakers and investors. Entrepreneurs can expect to meet and hear top leaders such as Rajan Nanda, Managing Director, Escorts Group; Arvind R Vohra, CEO & MD, Gionee India; Sumit Gupta, Group President and Country Head, Retail Banking Assets Group, YES Bank; Neeraj K. Singal, CEO, SEMCO Group; Sarbvir Singh, Regional Advisor, JP Morgan; Sumit Jain, Co-Founder and CEO, Commonfloor.com; Ambarish Gupta, Founder and CEO, Knowlarity; Pranay Gupta, Co-Founder, 91Springboard; Anirudh Damani, Angel Investor and Serial Entrepreneur, Artha Ventures; Manish Kheterpal, Managing Director, WaterBridge Ventures; Somak Ghosh, Managing Partner, Contrarian Capital; Sujit Kanoria, Trustee, Kanoria Foundation; Pratyush Kukreja, Consultant, Unitus Seed Fund; and, Sanjay Singhal, Founder, Strategizers, among several others. Vijay Goel, founder, Indo European Business Forum, will also be speaking at the event.

The first edition of Startup Jalsa in Chandigarh in June 2015 featured more than 700 entrepreneurs, over 30 speakers and 20 investors. More than 40 startups received investment commitments of a total of Rs.50 crores at Startup Jalsa 2015. The keynote address was delivered by Ronnie Screwvala, Founder UTV. Other prominent speakers included Arunabh Kumar, Founder, The Viral Fever (TVF) and Pankaj Jain of 500 Startups. The startups showcased at Startup Jalsa 2015 also featured in Pitchers, an online series launched by TVF.

The Ideaz Factory is also known for having organized a plantation drive in Faridabad which entered the Limca Book of World Records. It also unfurled the world's largest tiranga (Indian national flag) in Faridabad. Some of Prime Minister Narendra Modi's rallies organized by The Ideaz Factory have seen participation of over a hundred thousand participants. (ANI)