Media Release
BSE launches ‘BSE Startups’, a new platform for entrepreneurs to list their startups
Signs MoU with two venture capital firms- Cornerstone Ventures Investment Advisers LLP and Venture Catalysts Private Limited
Mumbai, December 22, 2018: In its endeavour to enhance the startup environment, BSE, Asia’s oldest exchange and now world’s fastest exchange with the speed of 6 microseconds has launched ‘BSE Startups’ on December 22, 2018. As part of the launch, the leading bourse has signed an agreement with Cornerstone Ventures Investment Advisers LLP and Venture Catalysts Private Limited.
The strategic collaboration with the two firms will enable BSE to further incentivise the startup firms in sectors like IT, ITeS, biotechnology and life sciences, 3D printing, space technology and e-commerce. The platform will also help in listing of firms from hi-tech defence, drones, nano technologies, artificial intelligence, big data, virtual reality, e-gaming, robotics, genetic engineering, amongst other sectors.
Commenting on the launch of BSE Startups, Ashishkumar Chauhan, MD & CEO, BSE, said, “BSE is the origin of capitalism in India. BSE has helped India create wealth of more than USD 2 trillion. In future, young hi-tech entrepreneurs will require less capital but will be able to create tremendous wealth. Indian youngsters need to get involved in creating more startups and raise funds from other Indians using BSE Startups platform. Thousands of young hi-tech companies should come and raise funds from discerning investors on this platform helping immense wealth creation for entrepreneurs, investors and the country as well as creating millions of jobs. The future belongs to startups and BSE Startups segment.”
Subhash Desai, Minister of Industries & Mining, Government of Maharashtra was the chief guest at the event. Harish Mehta, Founding President of Tie Up Mumbai & Executive Chairman of Onward Technologies Ltd, Atul Nishar, President of TIE Mumbai, Founder and Chairman of Hexaware Technologies Ltd, Ashishkumar Chauhan, MD & CEO, BSE and Ajay Thakur, Head- BSE SME were the guest of honours at the event.
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in delivery-based futures contract in gold (1 kg) and silver (30 kg).
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
Media Contact:
Yatin Padia / Rahul Vyas
022 2272 8516 / 2272 8472
Yatin.padia@bseindia.com/Rahul.vyas@indiainx.com