Neotec Hub mentoring 25 startups, plans to take more onboard

Kolkata: Neotec Hub, a part of the Ambuja Neotia Group that is currently supporting around 25 startups, plans to take onboard more for mentoring and enabling them to earn revenue, a company official said.

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The hub supports startups in the fields of real estate, healthcare, education, sports, entertainment, fintech, clean technology, hospitality and IoT (Internet of Things), he said.

"We are in the process of mentoring around 25 startups and more than 50 per cent of them are in the revenue stage. We plan to take onboard more startups in the days to come," Parthiv Neotia, director of Neotec Hub said.

He said the hub provides seed funding of Rs 25 lakh to each startup and subsequently, prepares them for receiving more funding from angel investors and VCs.

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Neotia claimed Neotec Hub is the only platform floated by a corporate entity in the city for incubating startups.

"Our aim is to support the startup ecosystem in Kolkata and the eastern region and provide all required support and mentorship", he said.

Speaking on the recent success story of the Neotec Hub, he said, "BookingJini, which is a platform empowering hotels to generate direct bookings from their websites, has raised Rs 3 crore seed funding from Mumbai Angels."

Incorporated three years ago, the goal of the hub is to create four success stories by April 2020, he said.

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(PTI)