Mangaluru: Corporate social leader and renowned entrepreneur T.V Mohandas Pai on Saturday announced the setting up of the Mangaluru Angels, in order to create an ecosystem for local entrepreneurs in the city.
In his address to the students, Mr. Pai said that the fund will be used to encourage Mangalureans, irrespective of caste/creed, to start entrepreneurial units in their hometown rather than go to Bengaluru or Mysuru. This will encourage freshers to build a base here before branching out elsewhere.
He vested the responsibility of overseeing the setting up of an incubator with banker Sandeep Shenoy.
Mr. Pai said that it’s high time a community of startups emerges in the coastal city. “We’ll bring in investors (angels), provide budding entrepreneurs with mentors, and turn their entrepreneurial dream into reality,” he said.
The beginners may fail with a business idea but he said that they should start taking risks. “The incubator will encourage entrepreneurs to meet and create business models. It will have all facilities to nurture their dream”, he said.
The idea is to ensure India’s next billion dollar company comes from a Tier II city, he added.
Nithin Kamath, CEO, zerodha.com, Mudar Patherya, media and branding proffesional, Sonia Shenoy, TV anchor CNBC India and Basti Vaman Shenoy, president, World Konkani Centre were the other dignitaries present at the event.