ICAI Startup Sphere: $200 Million Funding Event in Bengaluru

New Delhi, May 23 (PTI) Chartered accountants' apex body ICAI on Thursday said it aims to facilitate funds worth over USD 200 million to startups through an event scheduled to be held in Bengaluru from June 27 to 29.

It will organise the second edition of the Startup Sphere, and more than 10,000 people from the startup ecosystem are expected to participate in the event, according to a release.

The Institute of Chartered Accountants of India (ICAI) said the first edition of the event last year saw an estimated USD 100 million commitment of funding from 60 pitches presented to 75 investors.

"The Startup Sphere 2024 is scheduled from 27th to 29th June 2024. We are expecting to arrange more than USD 200 million in funding this year. More than 10,000 people are expected to participate in this three-day event that aims to connect entrepreneurs and investors, wherein startups can share their ideas and get investments," ICAI President Ranjeet Kumar Agarwal said.

The event will be supported by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Electronics and Information Technology (MeitY), Software Technology Parks of India (STPI) and Karnataka Innovation and Technology Society (KITS).