Announcing launch of ISM Angels: A Network of IIT Dhanbad Alumni investing in IIT Dhanbad Startups.
The Indian Institute of Technology (IIT) at Dhanbad is one of the oldest engineering schools in India, and it has one of the most active alumni networks.
With a rich history of science and engineering, the institute made its name around the world and now, its alumni are making a mark in the field of entrepreneurship. We have seen a growing number of IIT Dhanbad graduates choose to launch startups or build careers at startups.
Since most of these young entrepreneurs don’t have access to a strong network of experienced mentors and investors, we were inspired to create a way for them to get the support they need — i.e., through funding and mentorship.
Two IIT Dhanbad alumnus, Rakesh Soni and Krishna Anisetty, decided to further explore the potential of IIT Dhanbad’s tech startups and support the development of upcoming entrepreneurial talent. So, Rakesh and Krishna founded ISM Angels in October 2021.
“With angel investing, there is high ambiguity and risk. Investors would need to make high judgment calls to be successful. The goal of ISM Angels is to build a community, where investors can collaborate and share their diverse expertise to evaluate startups and invest alongside with other fellow alumni with confidence”, says Krishna Anisetty, founder of ISM Angels.
ISM Angels’ Vision
“As a tech startup founder, I understand the pain, founders have to go through in the early stages. The goal of ISM Angels is to alleviate that pain a bit by providing smart money and mentorship to IIT Dhanbad entrepreneurs”, says Rakesh Soni, founder of ISM Angels.
“Our vision is to invest $30M seed funding in the next 10 years and produce 5 unicorns driving at least 10x return for our members,” he adds.
We will be investing at a pace of $3M per year.
What is ISM Angels?
We love startups. We love IIT Dhanbad. And we want to help.
ISM Angels is a network of IIT Dhanbad alumni who invest in early stage tech startups, provide mentorship and give access to their professional network.
In our experience at IIT Dhanbad, we learned that strong bonds of fellowship exist among the alumni. That’s why we decided to create ISM Angels, a platform for alumni to get involved with fellow alumni startups and stay connected with the institution in a new way.
We want to give back to the community that gave us so much and provide a safe and sound environment for our alumni startup founders who are forging ahead in today’s challenging business environment.
Success So Far
In a short period of time, we have grown to 90+ angel investors who have been successful entrepreneurs and executives in the tech world. We come together every month and allow two startups to pitch. So far, we have invested $400,000. We are expecting to get 24 startups pitches this year and get 50% of them funded.
Some of the companies we have already funded are: Stargate Club, Chezuba, Intelisa, Edustack AI, LoginRadius, Mailmodo, MyPetrolPump, and NIFLR.
Who Can Pitch? And How Does it Work?
As ISM Angels is exclusively open to IIT Dhanbad students and alumni, so only they can pitch. All the pitching sessions are conducted online. We are open to tech startups only — but in any sector, any country and at any stage i.e. ideal to early revenue.
If you are interested in pitching to ISM Angels, please apply here online. One of our members will contact you within 3-days and schedule a call to learn more about your startup.
How Can I Join as an Investor Member?
Investors membership is open for IIT Dhanbad alumni who want to invest in tech startups. Please apply here online. We will review and approve your application within 3 business days.
To learn more about ISM Angels, we invite you to visit our website.
