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Primarc's 'iVenture' extends a hand towards start-ups

by IBNS 11 Jan 2016, 09:52 am

Kolkata, Jan 11 (IBNS): Primarc Group has forayed into the dice-game of supporting start-up businesses by adding a new wing called 'iVenture'.

The emphasis of this 'vehicle' of providing economic support to the start-ups will be on West Bengal's start-up projects.

Primarc Group, a retail and realty player in eastern India recently announced their recent initiative Primarc iVenture. It will focus on nurturing and fostering business ideas that create a better future for our society. 

This new Primarc venture aims to help start-ups by funding and guiding them to grow and carve their own success stories, with the ambition to fuel an entrepreneur’s passion, commitment and integrity. 

While launching this venture, Group Director, Sidharth Pansari, said “I am very optimistic on the start up eco-system both in West Bengal and India. The state government has an enhanced focus on entrepreneurship development and supporting start-ups. As successful entrepreneurs, it is our duty to support and mentor budding ideas.”

Primarc iVenture is investing in several startups and enterprises, whether they are developing a product, business services or funding a marketing strategy. Primarc iVenture is gearing up to guide early stage investment, all rounds of funding or expansion. This new business is supposed to generate more wealth, employment and boost the country’s economy. 

It is currently focusing on West Bengal, where the organization would like to promote new business ventures, assist the state and its people move ahead. It is currently developing and supporting ideas like Sampurna Earth, I-Kure and Catapoolt.

Primarc Group’s core expertise lies in it’s 30+ years experience in real estate and retail. Primac iVenture intends to guide businesses in these domains to ease customer pain points and foster growth for organizations. These ambitions are already materializing in start ups like Sampurna Earth,Design Café, Swarnapragati and Ketto..

iVenture is an innovative initiative which provides financial investments; kick-starter support and assistance; mentoring and support; and also sharing of Primarc’s expertise and resources to develop and nurture ideas. 

Primarc Group has recently made several investments in ventures like Ketto, Logic Roots, Catapoolt, XCode Life sciences, Design Café, Sampurn Earth , Tabsquare, Ikure, CarveNiche and so on. 

Primc iVenture will carry out this operation through existing platforms like Calcutta Angels, IAN, I3N and others. Also it will do so, by direct interaction and connect through entrepreneurs; and startups originating through incubation centers supported by the State Government, Nasscom and Universities. 

Primarc owns and operates over 45 stores across various formats across east India including Raymond, Color Plus, Park Avenue, Essence, STORY and so on. 

Its flagship Raymond shop at Poddar Court, Kolkata has consistently been the highest selling Raymond store in India for the last 16 years. Primarc is also the largest Raymond master franchise with over 36 stores.  

Primarc Realty has recently pioneered the concept of environment friendly Green buildings across MIG and HIG segments in West Bengal, with its flagship project Astitva being pre-certified as the first GOLD rated residential building in West Bengal. It has over 4 million sq. ft. of residential projects under development.