Monday 11 June 2018

Mumbai Angels Network Invests in Theranosis a Non-Invasive Cancer Diagnostic Company

                                                 


June 11, 2018: Mumbai Angels Network is pleased to announce our investment in  Theranosis Life Sciences, a medical diagnostic startup, that targets case-specific cancer diagnostic therapies as an alternative to conventional ‘one size fits all’ treatment.
Founded in 2016, Theranosis, based out of Hyderabad, India, is exploring non-invasive diagnostics for cancer patients. The company has a patented device that can reduce the need for surgical biopsies. Theranosis aspires to exhibit revolutionary innovations in the cancer treatment landscape.    
Theranosis is spearheading precision medicine in oncology in India and other developing countries. To implement the latest advances in companion diagnostics they have developed a patented microfluidics lab-on-a-chip device which detects circulating tumor cells from a simple blood sample of a cancer patient, circumventing the need for a surgical biopsy.
This procedure called liquid biopsy is a less invasive method and diminishes severe adverse effects triggered by chemotherapy. Another beneficial outcome is that it monitors treatment responses in real time.
Dr. Shibichakravarthy Kannan, Founder & CEO, has an impressive background which includes clinical research in HIV and TB, a PhD in Molecular Biology andBiochemistry, industry experience in liquid biopsy and a doctoral fellowship from the MD Anderson Centre, Houston, USA. Dr. Dharman, Co-Founder and Promoter, hails from the University Of Texas School Of Public Health, Houston, USA.
Shantanu Agarwal and Akshay Mittal, Deal Leads, Mumbai Angels Network said “It is a privilege to join Dr. Kannan and Dr. Dharman, along with their team, who have over 35 years of relevant experience and knowledge in the space to take things forward.  Together, we hope to achieve their vision to build a cutting-edge medical diagnostic and therapy firm that aids health care providers as well as patients all across the world”
Nandini Mansinghka, CEO and Managing Director , Mumbai Angels Network said “We  focus relentlessly on bringing unique, curated investment opportunities to our investor members within the network. Our investment in Thernosis highlights our focus on niche opportunities in the healthcare and healthtech space. Thernosis also fits very well in another of our key investment themes, that of Indian companies with the potential to expand into international markets”
Mumbai Angels Network is delighted to partner with Thernosis on its journey to develop what could be a ground breaking treatment.
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About Mumbai Angels Network
Started in 2006, Mumbai Angels Network (The MA Network) is India’s premier investment platform focused on investments in new ventures. The MA Network is today 300+ members strong across 6 chapters (Mumbai, Delhi, Bangalore, Kolkata, Hyderabad and Pune). We have built a strong investment framework through which we showcase 60-70 highly curated investment opportunities to our memberbase, chosen from a funnel of 800-1000 companies we review every month. The network now has a 120+ strong portfolio with 30+ exits. several of whom were at multiples comparable with global benchmarks in new venture investing.

Wednesday 16 May 2018

Future Angels Bootcamp

Future Angels Bootcamp

What is it?

  • 8 weeks structured bootcamp at Mumbai Angels Network
  • A fast pass access into the world of startup investing and entrepreneurship
  • Third batch starts 1st October,2018
  • Only 4 spots in each batch

The 8 week Bootcamp


If you are looking to dive straight into the world of angel investing and are either:Who can apply?
  • A student looking for internships
  • Wanting to learn how to invest in startups and willing to devote 2 full months
  • Have a business idea but not ready to start yet
  • Thinking of leaving your job but are not sure yet
Minimum Age: 18 years Maximum Age: No Bar

What next?

You could
  • Go back to school after the bootcamp
  • Apply for a full time position with the Mumbai Angels Network
  • Start investing as an angel investor
  • Start your own company
  • Finally quit your large corporate job!
Apply: Yash@mumbaiangels.com
For FAQs: Click Here

Thursday 10 May 2018

Goa Angels, powered by Mumbai Angels Network is finally here!

                                       

Goa Angels, a network of angel investors who are looking to invest and mentor innovative startups was launched yesterday. Mumbai Angels Network, India’s premier angel network will be powering the Goa Angels network.
The Start-up Program, launched by the Startup Promotion Cell, Department of IT, Government of Goa, is supporting the launch of the first ever angel investors network in Goa. “The government of Goa is committed to building a vibrant startup ecosystem in Goa. A robust and strong angel investment network will attract the best startups in the country to Goa and also provide the innovative startups from Goa access to a large pool of investors said Shri Rohan Khaunte, Information and Technology Minister, Goa Government.
“We are excited to launch Goa Angels to bring the top investors in Goa under a single network. We see this as a first and critical step in building a robust start-up ecosystem in the state. Our partnership with Mumbai Angels will ensure our members get access to the best-in-class startups from across the country. We are also looking forward to extending the full membership experience that being a part of a larger network offers, including investing best practices, learning sessions and active portfolio management for the invested companies said Shrinivas Dempo, Chairman, The House of Dempo and the chief force behind the new angel network in the state.
“We are excited to powering Goa Angels and are looking forward to building the startup ecosystem in Goa. With our nationwide reach of 6 chapters (Mumbai, Delhi, Kolkata, Bangalore, Hyderabad and Pune) Mumbai Angels Network has the first access to the best startups in the country. With our innovative, process driven investing, we are able to steer the entire investment process smoothly right from curating deals, deal negotiations, deal documentations to actively managing the invested portfolio and working closely with the next level investors for exits.saidNandini Mansinghka, Chairperson, Mumbai Angels Network.

Tuesday 17 April 2018

Government Circular on Angel Tax : Core Issue continues to be unresolved

DIPP (Department of Industrial Policy and Promotion) has published a recent circular tweaking definitions of a startup and angel investors and has defined a process for exemption under Section 56 of Income Tax Act
Which startup can approach DIPP for exemption Under Section 56?
●      The company has to be recognised by DIPP as a startup
●      Paid up share capital, should not exceed INR 10 Crores
●      The investor/ proposed investor fulfills either of the following criteria:
   ○  Average Income of INR 25 Lakhs for preceding 3 financial years
   ○  Networth of INR 2 crores
●      Report from a merchant banker specifying the fair market value of shares
●     The approval will come from an Inter Ministerial Board comprising
   ○  Additional Secretary, Department of Industrial Policy and Promotion, Convener
   ○   Representative of Ministry of Corporate Affairs, Member
   ○   Representative of Ministry of Electronics and Information Technology, Member
   ○   Representative of Department of Biotechnology, Member
   ○   Representative of Department of Science & Technology, Member
   ○   Representative of Central Board of Direct Taxes, Member
   ○   Representative of Reserve Bank of India, Member
   ○   Representative of Securities and Exchange Board of India, Member
Our Take
While this circular has increased the total paid up capital and has put a clearer definition around who will qualify as an investor, the key issue is still unresolved of the approval from the Inter Ministerial Board for exemption from “Angel Tax” or Section 56 of Income Tax Act.
The process of getting a fair value certification from a Merchant Banker will only add to the compliance costs and time for the startups, who are already juggling with many too many variables in trying to grow their startup.
In an environment where investors are taking calls to back startups, which are inherently risky investments with a high mortality rate, this approval process will continue to act as a dampener for the angel investment ecosystem.

Monday 2 April 2018

Mumbai Angels Network: Strides Taken In 2017

                              

As the financial year draws to a close, we would like to take this opportunity to highlight how our network has grown over the past 12 months.

1.Mumbai Angels Network is now in 6 cities with 250+ investors. This year our network increased its footprint across the country with the addition of 2 new chapters: Hyderabad and Pune. We have come together for the first of its kind partnership, with Calcutta Angels, largest network in the east.

2.We are the first network to launch MANTs, a digital currency to harness, measure and reward member engagement. In a short span of 6 months, the MANTs engagement index has shot up from 300 to 1200!

3.Our curation and ability to bring unique deals to investors is now the industry benchmark. We invested across diverse ventures ranging from anti counterfeiting and drones analytics to liquid biopsy and supercapacitors based batteries.

4.We invested INR 15 crores in 12 high potential, high growth startups this year. The smallest investment we made was INR 48 lacs, the highest was INR 3.5 crores. 75 members invested in these companies.

5.Our deal closure process has become an industry best practice with the closure timelines being cut down by one third.

6.We now have a 119 companies strong portfolio, with 30 exits till date. This accounts for about 25% companies exited, comparable to global standards for angel investing.

7.This year alone we had 3 exits, with an average of 1.5X return multiple for our investors. A total of 66 members invested INR 4 crores in these companies. 4 more exits are in active closure, you should see the press release soon.

8.Our start-up showcases are known for their format, time adherence and overall TV show quality! Most members mention our format as the highlight of their investing experience.

9.We conducted several networking and educational events across our chapters. Our Angel Investing Masterclass is recognized as a marquee platform.

10.We continue to engage with the government on all policy related matters that impact investing in startups. Our network today is on all tables wherever policy in startup investing is being discussed, representing your interests.

We will soon be announcing several new wealth creation initiatives, building an even stronger platform for you to access the best startups, co-invest with like minded savvy investors, manage your investments and learn the craft of angel investing!

Thank you for your continued support in growing our community and for playing a critical role in evolving India’s startup ecosystem

Warm Regards
Nandini Mansinghka
Chairperson
Mumbai Angels Network

Thursday 8 February 2018

Essential Start-up Tips


“Ideas are easy. Implementation is hard”. This phrase is true for modern-day start-ups as they juggle various facets of a challenging business environment. From ideas to execution, the strength of a start-up lies in paying attention to finer details. While there are hundreds of start-ups that have made their mark today, there are a million others who have, sadly, bitten the dust. What separates a successful start-up from the not-so-ones. Here are some of pearls of wisdom that you can follow when it comes to launching your next venture.



1)      Failing to plan = Planning to fail
You’ve got to put together a solid business plan. Addressing the problem statement, target customers, revenue model, cashflow management, and performance matrix, aligned very well with the time-bound business objectives can get you further along in your journey.

2)      The early bird catches the worm
Launch your business quickly and address the problem statement right away. Waiting for a perfect product may drain too much time and resources. Instead, extract the right amount of value from your product and present it to your customers. Market timing is critical here.

3)      Teamwork is the secret sauce to success
Regardless of which business you are into, putting together a kick-ass team is mandatory. From founders to customer service, from sales to domain experts, these are your backbone. Getting them right is critical to your business. Putting aside personal interests especially among the founders for the larger goals and open communication between team members can pave the way for a favorable outcome.

4)      Know thy customer and know them well
Not every customer is going to be ideal for your business. Understanding the effort involved in acquiring and then servicing a customer is important. You cannot have too many customers paying you too little. This leads to a higher acquisition and servicing cost to the company. Going after small customers who pay within your comfort zone is far better than large customers who may be bad paymasters.

5)      Stay lean
Accomplish more with less. Whether your well-funded or bootstrapped, services or product company, as a start-up, learn to curb unnecessary expenses. Let go of that fancy office space, or that extra spend on parties and outings. Avoid those expensive conferences or events, instead stick to a budget and keep a tight check on your spend.

6)      In God we trust, everything else needs to be measured
Performance metrics across all business functions are sacrosanct. Prioritize strategic and tactical goals for founders and team members. Ensure that you evaluate your company’s performance against your short, medium and long-term goals, make adjustments as necessary and optimize your resources to meet those set targets.