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JITO Shark Angels Commit Rs 20 Crore to Startups at JIIF Annual Innovation Conclave

Delhi, [India], July 8 2024: At the 7th Foundation Day and Annual Innovation Conclave hosted by the JITO Incubation and Innovation Foundation (JIIF), the JITO Shark Angels network pledged approximately Rs 20 crore to three promising startups. Five startups from various sectors, including SaaS, AI, Nutraceuticals, F&B, D2C consumer brands, Sports Tech, and Edtech, pitched their ideas at the event.

The esteemed panel of investors, known as the Shark Angels, featured prominent figures such as Anil Singhvi, Managing Editor of Zee Business; Nitin Jain, Co-founder of Of Business; Hemant Jain, MD of KLJ Resources; Natasha Malpani Oswal, Venture Partner of Kae Capital; Manohar Lalji Agarwal, Chairman & MD of Haldiram Group; and Vinay Jain, Founder of MLM Group.

“As the entrepreneurial landscape evolves, platforms like ‘JITO Shark Angels’ play a pivotal role in nurturing talent and driving impactful initiatives. This will establish a new standard, demonstrating JIIF’s commitment to inclusivity and showcasing the diverse skills and expertise of our esteemed investors,” said Rajat Mehta, Chairman of JIIF.

JIIF, a subsidiary of the Jain International Trade Organization (JITO), has significantly contributed to the startup ecosystem. With over Rs 200 crore invested in 100 companies and more than 35 startups incubated, JIIF’s impact is profound. Supported by its prestigious investors, the foundation has funded over 100 companies, incubated 35 startups, and facilitated 10 exits. With a network of over 100 mentors and ecosystem partners, JIIF has reviewed more than 7,000 startup applications. Additionally, it has secured over Rs 2 crore from the Startup India Seed Fund, boasting over 725 members.

The two-day event, which concluded on Sunday, marked JIIF’s 7th Foundation Day and Annual Innovation Conclave in Delhi. The theme, “Ideas to Impact: Cultivating Innovation and Entrepreneurship,” brought together some of the brightest minds in the industry for a celebration of innovation and entrepreneurial excellence.

Prime Minister Narendra Modi lauded JITO for its significant contributions to promoting Indian startups and advancing the vision of a self-reliant India. In a congratulatory letter, PM Modi highlighted the commendable impact of JIIF’s “Ideas to Impact” program in fostering innovation and entrepreneurship across various sectors.

The event featured an impressive lineup of delegates from India and abroad, including unicorn founders, 50+ portfolio startups and companies, 50+ VCs and Angel Funds, Institutional Investors, Ecosystem Partners, and 500+ high-net-worth individuals and ultra-HNI family offices from the ecosystem.

JIIF continues its tradition of fostering innovation and entrepreneurship. The organization made a strong impression at Startup Mahakumbh’24, reaffirming its dedication to promoting entrepreneurial excellence. An equally remarkable imprint was made at the JITO Dubai International Summit 2024, where JIIF hosted JITO Shark Angels, achieving great success.

Vice Chairman of JITO’s North Zone, Raman Jain, emphasized, “Our theme, Ideas to Impact, highlights our commitment to nurturing startups as job creators and fast-growing businesses. We educate our investors through master classes and empower our community with knowledge.”

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