Angel investors are now looking at small cities to ‘find and fund’ new entrepreneurs
India's start-up fever is no more exclusive to big cities, as smaller cities and towns across the country are now breeding entrepreneurs. To aid them,
"There are multiple informal groups in Chandigarh to mentor startups, but in order to raise money, startups had to go to metros," Vineet Khurana, VP, operations, at Chandigarh Angel Network told ET.
"Also, there are ample
This new group of investors include non-resident Indians and high net-worth individuals, who want to tap into these regional angel groups based in tier-II cities for memberships. Swan Angel Network, based in Indore that houses around 60 start-ups, has grown to more than 38 members in the last six months, out of which a majority belongs to professionals and people running family businesses.