Sanchiconnect, a Deep Tech startup and investor community, has inked a Memorandum of Understanding (MoU) with SIIC IIT Kanpur. Sanchiconnect is increasingly becoming the first choice for premium deep-tech incubators in India, and this MoU is a stepping stone for Sanchiconnect, with another 8 in the works.Sanchiconnect will assist SIIC IIT Kanpur deep tech businesses in raising money, engaging with corporates, and employing tech talent as part of the MoU.
The memorandum forms a first-of-its-kind collaborative partnership between Sanchiconnect and SIIC IIT Kanpur. Sanchiconnect will serve as their go-to-market and investment partner for SIIC IIT Kanpur, assisting in the development of deep-tech innovative products. The MoU will also allow the two partners to decipher deep technologies such as artificial intelligence and the Internet of Things in order to expand SIIC IIT Kanpur's existing portfolio and aid startups in raising funds, engaging with corporates, and hiring the proper tech talent.
On the signing of the MoU, Dr. Nikhil Agarwal, CEO - SIIC, IIT Kanpur said "With Sanchiconnect, we wish to engage with investors, firms, and experts for our innovative startups. With this MoU, we are delighted to collaborate with Sanchi to support deep-tech startups. Currently, IIT Kanpur has a large no of startups focusing on deep tech. We have 30+ startups in cyber security and 25 startups in Artificial Intelligence. We are onboarding a second cohort of 25 new startups in AIIDE CoE." `
Commenting on the partnership, Mr. Sunil Shekhawat, CEO of Sanchiconnect said: “We are extremely delighted with the culmination of this MOU signing. The beauty of the Sanchiconnect partnership model is- it decongests the bandwidth of incubation teams by giving them an all-digital GTM and fundraising support to the incubates and allows incubators to focus on the mentorship piece which is their core forte”
Sanchiconnect will speed up investment in early and growth-stage startups that use artificial intelligence, machine learning, blockchain, computer vision, drones, renewable energy, and other deep-tech industries. SanchiConnect's global investor partner network aids in the discovery, comparison, and connection to fast-track finance and specializes in facilitating cross-border business and investment options for early to mid-stage emerging and deep-tech firms.
Sanchiconnect previously announced plans to facilitate investment of $50 million USD in Indian startups through its partner channel by the end of 2023, using its deep tech-only platform SIIC IIT Kanpur is a section 8 company working in the startup ecosystem for the past 20 years, nurturing innovation at the grassroots level and supporting entrepreneurs in their journey from zero to one. We have a portfolio of more than 150 companies with over 3 billion evaluations cumulatively with startups from all sectors. SIIC in collaboration with Uttar Pradesh Government runs an AI Center of Excellence in Noida which incubates 50 AI/ML startups and provide them with mentorship and investment opportunity.
Sanchiconnect was created by Dr. Sunil Shekhawat, a former executive head of NASSCOM's Deeptech club. It assists deep-tech firms in raising capital with over 70 investment partners, including angel investors, venture capitalists, and investment networks. Capital2B (InfoEdge), Pi Ventures, Bharat Innovation Fund, 8x Venture Capital, Speciale Invest, Nexus VP, Yournest VC, GrowX, Ankur Capital, and Modular Capital are among the well-known venture capital firms and investment networks that have joined the platform. The platform is backed by Baring India Private Equity Fund and Inflection Point Ventures and is headquartered in Noida.