Piyush Goyal launches initiative to connect Indian startups with US investors
- ByStartup Story | September 9, 2022
According to Union Trade Minister Piyush Goyal, the Indian-American start-up SE YOUwhich stands for Supporting Entrepreneurs for Transformation and Upskilling, would serve as a link between American and Indian companies.
The conference focused on how to foster national incorporation and mentorship of Indian start-up businesses by successful diaspora members in the San Francisco Bay Area. The project will connect Indian companies with US investors and startup ecosystem experts to provide mentorship and support in areas such as fundraising, market access and commercialization.
Stakeholder engagement will be facilitated through the Mentorship Portal, which is part of the Startup India MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth) project, which is a unique solution-finding tool for businesses in India.
Goal said, “One of the key takeaways is that the Bay Area is very optimistic about India, very excited about the potential that India, Indians, Indian startups and Indian businesses have to offer. “Very excited about the talent available in India. They see huge potential in the big market that is India, 1.3 billion ambitious Indians.” “There were suggestions about mentoring. We launched the SETU program where we seek to support entrepreneurs through transformation and upskilling initiatives. We are also looking at a program that the Startup Advisory Board has started in India in which mentoring is initiated especially in Tier 2, 3 and 4 cities and remote areas. Many good suggestions have been put on the table.
While encouraging investment in India, the minister said businesses will benefit from a competitive environment as well as a large market of over a billion “ambitious Indians”. Goyal pointed to the country’s huge market potential, saying economies of scale and the availability of a large pool of skills had advantages.
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