Innovation fund Pontaq signs deal with TN govt to support startups

Holds investor summit with participation from 50 tech-based startup founders

Pontaq, an innovation fund that invests in early-stage technology businesses in the UK, India, US and Canada, has signed a memorandum of understanding with the Tamil Nadu Startup and Innovation Mission, which s backed by state government.

Under the terms of the MoU, the government will help Pontaq-supported companies expand business operations in the State. As part of this, Pontaq organised an investors summit in the state. Mahesh Ramachandran, General Partner, Pontaq, said, “At Pontaq, we help entrepreneurs scale at scale. We not only provide the required funding but mentorship and access to customers.”

Fifty tech-based start-up founders participated in the event. Some presented their business ideas during the four pitch sessions and shared their start-up journey, vision, and how they are solving a real-world problem using new-age technologies like AI and IoT. KT Rama Rao, IT Minister, Telangana, virtually attended the event and answered the questions of entrepreneurs related to the business opportunities in the State. He encouraged them to visit the State and explore suitable opportunities.

Prem Barthasarathy, Managing Partner, Pontaq, said, “We at Pontaq are working to provide a seamless experience to entrepreneurs to realise their business dreams. We are trying to create a conducive start-up ecosystem by bringing different stakeholders together and ensuring collaborations.” Headquartered in the UK, Pontaq specialises in cross pollination of technology between these geographies and beyond, unlocking significant value for both its investee companies and its investors.