Hyderabad, 18th July 2023:  JITO Incubation & Innovation Foundation (JIIF) an arm of JITO (Jain International Trade Organisation, a unique, multi-stakeholder community of visionary Jain Industrialists, Businessmen & Professionals is thrilled to announce the successful culmination of the highly anticipated 6th Foundation Day and Investors Conclave, held on the 15th and 16th of July at T-Hub in Hyderabad.

The Event has speakers present were all JAINs, a few names Harsh Jain- Groww, Nitin Jain – Of Business, Pulkit Jain – Vedantu, Mithun Sacheti – CaratLane, Anshul Jain – Lighthouse Fund, Mayank Jain – Stellaris, Punit shah- Alteria, Jinesh Shah – Omnivore, Sumit Jain – Vital ventures.

Shri Rajeev Chandrasekhar, Honourable Minister of State for Skill Development and Entrepreneurship, and Minister of State for Electronics and Information Technology; Shri Gajendra Singh Shekhawat, Union Minister for the Department of Water Resources, River Development, and Ganga Rejuvenation; Shri Jayesh Ranjan, Principal Secretary of Industries & Commerce; and Shivangi Jain, Sr. Assistant VP of Startup India, graced the event with their presence.

Speaking at JIIF’s 6th Foundation Day & Investors/Startup Conclave in Hyderabad, MoS Rajeev Chandrasekhar, said, “In 2014, our nation’s tech landscape was limited to IT and ITes. However, since then, opportunities have emerged across various domains such as deep tech, AI, data economy, semiconductor design, microelectronics, and high-performance computing. Due to the vision of PM Modi, what was once just one-third of the overall tech space has now expanded, presenting immense potential for unicorns and startups. From 108 unicorns I am sure we will reach 10,000 in the next 4-5 years. Today we have over a lakh startups in India and it will increase by 10 times.”

“In 2014 there were 3 out of 4 Indians who were not skilled. Professionals joined the workforce every year unskilled and this was the legacy and the reason why for many years we had many smart people but they went off abroad. Education and skills were available to the elite part of the society and the rest were left to fend off alone and survive on their own. PM Modi’s Skill India launched Skill India reversed this. We continue to work with the industry in partnership with big and small companies and they tell us what these skills are and the Government partners towards creating a framework that is developed through a network of academia. Community and corporate partnerships are very important elements to startups,” the minister further added.

Addressing JIIF’s 6th Foundation Day & Investors/Startup Conclave, Mr. Gajendra Singh Shekhawat, Union Minister for the Department of Water Resources, River Development, and Ganga Rejuvenation, said, “Unlike popularly believed, the Agricultural Sector consumes more water in India than the domestic and industrial sectors. Agriculture has a greater consumption share of water in India. It accounts for approximately 90% of the 771,000 billion litres of annual freshwater withdrawals in the country.  The per capita consumption of water in the agriculture sector ranges from 4,913 to 5,800 kilolitres per capita per year.  This is much more than in other countries.”

“Our water is considered to be the least productive.  India does not spend any money on conserving water consumed in agriculture.  Surprisingly, water conservation takes place in the industry and utility sectors, both of which consume less than 5% of the nation’s water. Not much attention is paid to conserving water in the agri sector. This is where we need private sector help. This is where we need startups.  We need startups to help in precision agriculture.  We need their intervention in helping the Agri sector save water,” the minister further added.

The highly anticipated ‘JITO Shark Angels Season 2’ was launched during the event, providing startups with a platform to raise funds and gain exposure. The enthusiastic participation of investors and entrepreneurs created a dynamic environment, fostering meaningful connections and potential collaborations. An investment of Rs 13 crore was committed to two startups, further fuelling their growth and development. This initiative of JSA was led by Ramesh Bafna, CFO of Zepto. Honorary services as Vice Chairman of JIIF

JIIF recognized 20 TOP Jains in the ecosystem and gave them recognition by way of hall of Fame to the Contribution of the community in the ecosystem.

An MoU was signed and exchanged between JIIF and T-Hub, furthermore, JIIF expanded its network of collaborations by establishing partnerships with IIT Jodhpur and iStart. These MoUs were entered into for mutual cooperation and collaboration, aiming to strengthen the entrepreneurial ecosystem.

Rajat Mehta, Honorary Chairman of JIIF, said, “As we celebrated our 6th Foundation Day, it was an honour to host the Investors Conclave. The event surpassed our expectations, creating a platform that facilitated connections, learning, and collaboration among entrepreneurs and investors. With 55 companies incubated under JIIF, we take pride in the success of 27 of them. A significant investment of Rs 150 crore has been made in around 70 early-stage startups.”

Ms Pooja Mehta, Chief Operating Officer and Chief Investment Officer, at JIIF, said “At JITO Angel Network, we continuously showcase innovative solutions for market needs in sectors like EV, Agri, Water harvesting, Health, and more. We’re thrilled to launch JITO Shark Angel’s second edition, furthering our mission to support world-class entrepreneurs and investors. These startups offer unique perspectives to address region-specific challenges. With the majority of Indians residing in small towns, backing their economic growth is an investment in India’s future. We forge ahead, empowering exceptional entrepreneurs and fuelling innovation.”

With over 500 plus investors and HNIs in attendance, including approximately 65 founders, the event provided a platform for nationwide investors to connect and explore the potential of the portfolio companies. Notably, JIIF’s angel funding efforts have reached an outstanding milestone of 20$ million, supporting the growth of more than 80 invested portfolio companies. The event received remarkable attention and active participation, underscoring the crucial role of fostering innovation and entrepreneurship in propelling economic growth and development.

The JIIF Honorary leadership team behind this initiative included Shri Rajesh Jain -Director-In-Charge, Shri Rajat Mehta – Chairman, Ramesh Bafna – Vice Chairman, Jeenendra Bhandari -Chief Secretary, Vikash Kawar –  Vice Chairman, Anurag Jain – National Convenor event and the JITO Hyderabad team led by Sushil Sancheti, Chairman of JITO Hyderabad.