Vanaman Ventures Pvt Ltd, a Bengaluru-based elective venture stage, held a Beginning Up Consideration Highest point on Saturday, Nov 26, where the Priest of Money and Corporate Undertakings, Legislature of India, Nirmala Sitharaman was the Main Visitor.
She urged the startups to concentrate on farming solutions and climate change. During her address to the Vananam Start-up Inclusion Summit, Union Finance Minister Nirmala Sitharaman emphasized the significance of climate change and farming solutions innovations.
She stated, “Atmanirbhar Bharat is not just for defense or strategic matters, food security, or manufacturing areas,” when she spoke at the national summit organized by Vananam to encourage inclusion in the Indian startup ecosystem. Being able to change to a better climate in India is also self-sufficiency.
She advised new businesses and investors to look beyond Software as a Service (SaaS) startups and fintech and focus on less glamorous areas like climate change solutions, improving farmers’ conditions, and millet production.
“You have already spoken about the production of defense, renewable energy, nuclear space, satellites, and space technologies, among other things. She continued, “I’m asking you to also explore some of those less glamorous areas.”
“More and more innovations for dealing with climate and climate change are going to be precious,” Sitharaman stated, emphasizing climate change solutions. Climate change has a direct impact not only on the country’s supply chain but also on farming.
She went on to say that “agriculture, urban living, water management, disaster management, house construction, industries, and national security are all affected by the challenges posed by unpredictable climate conditions.”
The finance minister warned that the Indian economy will suffer greatly and not everyone will be able to afford it if climate change issues are not addressed. She warned the group that adverse climate and weather conditions can cause widespread damage that no nation can fully comprehend, absorb, or take on.
She said, “The rainfall that used to happen throughout the entire monsoon season is now being witnessed within a couple of days, which no city or rural area can handle,” elaborating on the seriousness of the situation. All of these factors are causing farmers to reevaluate their methods for plowing, sowing, preparing the land, and determining when the crop will be harvested.
She added that farmers’ efforts to alter their cropping patterns are visible to the public. The unpredictable monsoon seasons are putting more pressure on seed sowing.
She added, “The United Nations General Assembly had declared the year 2023 as the International Year of Millets. Karnataka is one of the biggest producers of diverse varieties of millets.”Millets offered a healthy way to eat, especially for people living in cities.
Startups can take advantage of numerous opportunities, one of which is to assist farmers in achieving higher prices for their millet produce by adding value.
Sitharaman stated, “India would be chairing the G20 summit and one of the sessions involving the Finance Ministers and the Central bank governors would be held in February in Bengaluru,” in addition to making other significant announcements at the Vananam Summit.
Panel Discussions on the Subject of Inclusion
The Vananam Start-up Inclusion Summit featured three-panel discussions. The panelists talked about how to successfully transition students from academics to entrepreneurs, how to support founders in Tier II and III cities, and how to encourage women, entrepreneurs.
Talking at the occasion, Keshav Inani, Vananam Adventures President, said, “It is our extraordinary honor that the Money Clergyman Nirmala Sitharaman graced the event and tended to the crowd.
She encouraged us, the entrepreneurs, to reflect on the pressing issues of national significance. We thank her for supporting us in our efforts to establish an inclusive startup ecosystem.
Vanaman is a new investment platform that aims to make venture investing more accessible in India. By making start-up and SME investing simple and accessible to all, they aim to create wealth for all.
The company, which was founded in 2021 by Keshav Gopaldas Inani, offers start-up investing, revenue-based finance, invoice discounting, lease financing, and mentoring for start-ups.
The company has raised angel rounds for over twelve start-ups in less than a year, with ticket sizes ranging from Rs 50 lakhs to Rs 5 crores. In addition, it has achieved a gross merchandise value (GMV) of Rs 800 crore (USD 100 million) in just eight months.
In recent years, there have been several new startups in the Indian fintech industry as business owners try to get a piece of this growing industry, which is estimated to be worth $2.1 trillion.
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