Groundbreaking Event Commits INR 2 Crores to Women-Led Startups, Setting New Standards for Gender Inclusivity in Entrepreneurship
India, 09th October 2023: In a groundbreaking move towards fostering gender diversity and empowerment in the startup ecosystem, JITO Incubation and Innovation Foundation (JIIF) hosted the second season of “JITO Shark Angels (JSA),” a live on-stage funding event, with a unique twist – all the sharks were women, and the startups were led by women. This extraordinary event took place in association with JITO Ladies Wing at JITO Connect 2023 in Jaipur, marking a significant milestone in the world of entrepreneurship.
The second season of JSA, marked a historic moment in the world of startup funding. It was the first-ever women-focused funding event of its kind, where women entrepreneurs presented their startups and received funding commitments on stage. The purpose of the event was to unlock the unrealized potential of women in the entrepreneurial landscape.
Five dynamic women-led startups showcased their innovations and ideas at JSA Season 2; Ecoright, founded by Nikita Barmecha, presented sustainable solutions, Funngro, led by Payal Jain, focused on innovative consumer products, Plan B, founded by Sneha Raisoni and Vaidehi Shah, offered creative solutions, MyWays.ai, helmed by Tanvi Jain, showcased cutting-edge technology, and Riti Rivaz, co-founded by Roshita Jain, that highlighted fashion innovation.
The seasoned panel of women investors, known as sharks, played a pivotal role in this event. The names included— Nikita Jain, Managing Partner at Nanda Capital Holding, Saloni Shah, Associate Director at NVS Brokerage Private Limited, Shekha Haran Bhandari, Head of Family Office at Haran Family Office, and Rashi Benara, Investment Manager at KM Trans Logistics Private Limited.
JITO Shark Angels Season 2 was a resounding success. The event witnessed a commitment of INR 2 crores from the panel of Sharks to support women-led startups. The audience also actively participated in this historic event. Furthermore, JITO Ladies Wing has experienced remarkable growth, increasing its membership from 7k to 14k, and they are ardently championing empowerment and supporting women entrepreneurs.
Pooja Mehta, Chief Operating Officer, JITO Incubation and Innovation Foundation (JIIF), said, “I’m proud to acknowledge the profound impact of this event. It represents a significant milestone in our unwavering mission to empower women entrepreneurs. Our commitment extends beyond words; we are dedicated to providing steadfast support, offering the finest resources, and nurturing their growth. This event, a beacon of inclusivity, sets a new standard, illuminating the path for soonicorns to transform into unicorns.”
The success of JITO Shark Angels Season 2 builds upon the foundation of Season 1. In the inaugural season, 41 companies presented their ideas to a live audience of 15,000. A total commitment of funds exceeding INR 21 cores was made to over 25 companies, with investments finalized in 17 companies. Each of Season 1’s nine episodes featured new sharks from the Jain community and took place in different cities, catering to diverse communities.
About JITO Incubation and Innovation Foundation (JIIF):
JIIF, as a subsidiary of Jain International Trade Organization (JITO), has consistently played a pivotal role in promoting innovation and entrepreneurship in India. With the support of our esteemed investors like you, we have made significant strides, investing upwards of Rs. 150 crores in 80 companies and incubating 25+ Jain entrepreneurs.