- ByStartupStory | February 29, 2024
At the JITO Dubai International Summit 2024, organized by JITO Shark Angels and JITO Incubation and Innovation Foundation, a panel of sharks committed Rs 20 crore to startups in various industries. “In navigating the evolving entrepreneur landscape, platforms like ‘JITO Shark Angels’ nurture talent and drive impactful initiatives,” emphasized Rajat Mehta, Chairman of JITO Incubation and Innovation Foundation (JIIF). The investment pledge was directed towards startups operating in logistics, space tech, fintech, and SaaS AI sectors, including Elixia, Astrophel Aerospace, GetPlus, and Zintlr. Notable investors like Motilal Oswal, Vimal Shah, Vimal Kumar, and Anil Singhvi contributed to the pledges. “This will set an unprecedented benchmark, showcasing the prowess of JIIF as a truly inclusive platform and highlighting the diverse talent and expertise of our esteemed sharks,” Mehta added.
The JITO Dubai International Summit 2024 convened visionaries and industry leaders to discuss innovation and empowerment, reflecting the organization’s commitment to fostering growth. JIIF, a subsidiary of Jain International Trade Organization (JITO), has significantly impacted the startup ecosystem by investing over Rs 200 crore in 80 companies and incubating over 25 Jain entrepreneurs. “We look forward to the continued support of all stakeholders in providing the necessary support and best resources to our entrepreneurs and being a catalyst in their growth journey,” Mehta expressed. The foundation has funded more than 90 companies, incubated over 44 startups, and facilitated 10 exits, leveraging its network of over 100 mentors and ecosystem partners.
With over 630 members, JIIF has secured over Rs 2 crore from the Startup India Seed Fund, affirming its commitment to fostering entrepreneurship and innovation.
