- Date : 06/02/2023
- Read: 3 mins
Coverage of SRAM & MRAM Group’s plans to invest in Indian startups
UK-based conglomerate SRAM & MRAM Group has recently committed its support to Indian startups through its Startup Wings program. The group has in-depth experience working in the startup ecosystem globally and will extend its expertise to these Indian start-ups through startup investments in India, mentoring, networking assistance etc.
SRAM & MRAM Group
SRAM & MRAM Group is an international entity with 8 global alliances and 10 companies and has a presence in over 35 countries in the world. It is headed by Dr Sailesh Lachu Hiranandani who is the group’s chairman. Dr Hiranandani was a career commodity trader with expertise in JPY hedging. He founded the group in 1995. The group is headquartered in London and has interests in various industries. Among these include, agriculture, hedge funds, AI and neural network, forex, hospitality, IT, media etc.
The group runs three other investment and funding entities apart from Startup Wings, namely the 1st Lion, The Sindhi Angles, and the Lioness Fund. These funds support startups across the world throughout the entire startup ecosystem. Its startup involvement can be traced to companies like 5ire, Bumble Bee Flights and IMPS Enerture. One of the startups nurtured by the group has also achieved unicorn status.
Speaking about the group’s Indian interest, Dr Hirachandani highlighted that India will be a highlight of the global economy in the next decades. He stressed that SRAM & MRAM group is excited to be a part of the journey. He mentioned that the group is keen to share its expertise and investments with upcoming entrepreneurs who are looking to stabilise their disruptive idea through India’s vibrant startup ecosystem.
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Startup Wings Program
Startup Wings is the investment and growth accelerator program initiated by the MRAM & SRAM Group. In India, the program aims to nurture startups engaged in various sectors including agro-tech, fintech, edtech and eCommerce. The program will also be focussing on the empowerment of women-led startups. It will invest in 100 such women startups in India. Through its support of startups, the group seeks to promote employment generation, revenue generation, economic growth and overall nation-building.
Speaking at the launch of Startup Wings program in India, the program founder Abhishek Sharma pointed out India’s resilience in the wake of the pandemic and the resulting global slowdown. He mentioned that this has strengthened the group’s belief in India as an economy. The program’s co-founder Amit Tomar noted the rapid progress in the startup scene in India in the last few years. He hoped that the program will further help strengthen the startup ecosystem.
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Investment in the right startups can be the quick stairway to grand returns, as more and more Indian startups join the unicorn club. The government has also tried to facilitate such partnerships. Last year, the government launched Supporting Entrepreneurs in Transformation and Upskilling (SETU) which seeks to connect Indian startups, particularly from remote and Tier 2,3 and 4 towns, with US investors, including members of the Indian diaspora.
Corporate encouragement to the Indian startup ecosystem is emerging as a trend in recent years. Let us hope that the SRAM & MRAM group initiative further inspires these alliances.
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