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Time of India
5 days ago
- Business
- Time of India
Business families to invest Rs25 crore in 50 Vidarbha startups
1 2 3 4 Nagpur: In a landmark initiative aimed at transforming Vidarbha's startup ecosystem, the Association for Industrial Development (AID) launched 'Family Cap Nagpur,' a pioneering funding platform that will see 50 family-run businesses each investing Rs50 lakh in 50 promising startups across the region. The announcement was made at the launch of AID's 'Vidarbha Advantage 2025' report, where Union minister Nitin Gadkari symbolically handed over a Rs50 lakh cheque to the programme's first beneficiary, Kraya Concepts Limited, co-founded by chartered accountant Pratik Loya and engineer Swar Gattani. Conceptualised by Shashikant Chaudhary, coordinator of AID's Startup Division, the 'Family Cap Nagpur' platform aims to provide more than just capital. "Our aim is to cultivate a vibrant startup ecosystem in Vidarbha by nurturing entrepreneurs with not just financial backing but also strategic mentorship and access to market opportunities," said Chaudhary, adding, "The investors will also provide business opportunities to these startups, helping them grow and expand. What started as an idea in a WhatsApp group is now a reality." The initiative is set to disburse a total of Rs25 crore in three to four phases over the next five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo In its first phase, 10 prominent family-run businesses, including Shreyas Raisoni, Karnil Cheema, Ankur Cheema, Padmesh Gupta, Anup Khandelwal, Anand Sancheti, Ashish Kale, Pradeep Bansal and Dilip Bharde have come together to form a syndicate that will drive the programme forward. Ashish Kale, president of AID, described it as a transformative step for the region. "This initiative is a landmark step to transform Vidarbha's economic landscape by investing in its most innovative minds," he said. For Kraya Concepts Limited, the funding marks a major turning point. "We started in 2022 just after the Covid-19 pandemic and grew to a team of seven employees. The new initiative will provide additional funding in the future. We are truly thankful to the AID team for their valuable guidance and support," said Gattani. Kraya Concepts' valuation already stands in the range of a few crores, and the new funding is expected to further boost their operations. The broader goal of the 'Family Cap Nagpur' initiative is to address the critical gaps in funding, mentorship and innovation for startups in Vidarbha. By bringing together experienced family businesses and promising young entrepreneurs, AID hopes to create a dynamic environment that can help the region's startups thrive. # About 'Family Cap Nagpur' Total Investment: Rs25 crore Number of Startups Beneficiaries: 50 Investment per Startup: Rs50 lakh Number of Family-Run Businesses: 50 Disbursement: In 3-4 phases over the next 5 years First Startup Funded: Kraya Concepts Limited Support Offered: Financial backing, mentorship, market access # Key Backers Shreyas Raisoni Karnil Cheema Ankur Cheema Padmesh Gupta Anup Khandelwal Anand Sancheti Ashish Kale Pradeep Bansal Dilip Bharde
Time of India
5 days ago
- Business
- Time of India
Biz families to invest Rs25cr in 50 Vidarbha startups
Nagpur: In a landmark initiative aimed at transforming Vidarbha's startup ecosystem, the Association for Industrial Development (AID) launched 'Family Cap Nagpur,' a pioneering funding platform that will see 50 family-run businesses each investing Rs50 lakh in 50 promising startups across the region. The announcement was made at the launch of AID's 'Vidarbha Advantage 2025' report, where Union minister Nitin Gadkari symbolically handed over a Rs50 lakh cheque to the programme's first beneficiary, Kraya Concepts Limited, co-founded by chartered accountant Pratik Loya and engineer Swar Gattani. Conceptualised by Shashikant Chaudhary, coordinator of AID's Startup Division, the 'Family Cap Nagpur' platform aims to provide more than just capital. "Our aim is to cultivate a vibrant startup ecosystem in Vidarbha by nurturing entrepreneurs with not just financial backing but also strategic mentorship and access to market opportunities," said Chaudhary, adding, "The investors will also provide business opportunities to these startups, helping them grow and expand. What started as an idea in a WhatsApp group is now a reality." The initiative is set to disburse a total of Rs25 crore in three to four phases over the next five years. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo In its first phase, 10 prominent family-run businesses, including Shreyas Raisoni, Karnil Cheema, Ankur Cheema, Padmesh Gupta, Anup Khandelwal, Anand Sancheti, Ashish Kale, Pradeep Bansal and Dilip Bharde have come together to form a syndicate that will drive the programme forward. Ashish Kale, president of AID, described it as a transformative step for the region. "This initiative is a landmark step to transform Vidarbha's economic landscape by investing in its most innovative minds," he said. For Kraya Concepts Limited, the funding marks a major turning point. "We started in 2022 just after the Covid-19 pandemic and grew to a team of seven employees. The new initiative will provide additional funding in the future. We are truly thankful to the AID team for their valuable guidance and support," said Gattani. Kraya Concepts' valuation already stands in the range of a few crores, and the new funding is expected to further boost their operations. The broader goal of the 'Family Cap Nagpur' initiative is to address the critical gaps in funding, mentorship and innovation for startups in Vidarbha. By bringing together experienced family businesses and promising young entrepreneurs, AID hopes to create a dynamic environment that can help the region's startups thrive. # About 'Family Cap Nagpur' Total Investment: Rs25 crore Number of Startups Beneficiaries: 50 Investment per Startup: Rs50 lakh Number of Family-Run Businesses: 50 Disbursement: In 3-4 phases over the next 5 years First Startup Funded: Kraya Concepts Limited Support Offered: Financial backing, mentorship, market access # Key Backers Shreyas Raisoni Karnil Cheema Ankur Cheema Padmesh Gupta Anup Khandelwal Anand Sancheti Ashish Kale Pradeep Bansal Dilip Bharde
