Mumbai: WAVEX 2025, part of the World Audio-Visual Entertainment Summit (WAVES) here, has emerged as a significant platform for startups in the media and entertainment (M&E) industry, with a special focus on creating a dedicated angel network to support innovation in this space, experts said on Sunday. 

Participating at a panel discussion at the event here, Ministry of Information and Broadcasting's Joint Director Ashutosh Mohle highlighted the vision of WAVEX to provide a national stage for startups, allowing them to scale their ideas and gain visibility within the M&E sector.

He expressed hope that initiatives like WAVEX would foster innovation and entrepreneurship in a rapidly evolving industry.

Internet and Mobile Association of India's (IMAI) Chief Growth Officer Sandeep Jhingran shared the encouraging response to WAVEX 2025, noting that over a thousand applications were received from aspiring entrepreneurs.

"Thirty startups were selected to pitch directly to investors, with many already in active discussions," he stated.

Jhingran emphasised the need for such platforms to focus on nurturing startups in the M&E sector, where unique challenges often hinder growth.

Investor voices were also critical in shaping the conversation. Warmup Ventures Venue Partner Rajesh Joshi reflected on his journey from being a startup founder to an investor.

He revealed that they are currently in talks with 11 startups, highlighting the significant interest in M&E startups despite past reluctance to invest in this field.

He expressed his belief that WAVEX is helping change this mindset.

CABIL Founder Mustafa Harnesswala echoed these sentiments, noting that many investors have traditionally shied away from the M&E space.

However, WAVEX is now changing that dynamic. Harnesswala shared that they are working on building a dedicated angel network for M&E startups, further bolstered by international collaborations aimed at expanding investment opportunities.

The panel also discussed some of the challenges facing the industry. When asked how investors differentiate meaningful content, Joshi pointed to "Giggle", a startup focused on preventing cyberbullying and harmful content on social platforms, as a prime example of responsible innovation.

On the topic of gender representation, Jhingran acknowledged that the participation of women entrepreneurs in the M&E sector has been limited.

He expressed a commitment to improving this in future editions, with a goal of attracting more women-led startups to the platform.

The event format, which offered one-on-one pitching opportunities for 30 startups, was praised by industry leaders for providing startups with the chance to interact directly with investors. (IANS)