To connect entrepreneurs in India with US-based investors, the commerce and industry minister Piyush Goyal has launched an initiative called SETU (Supporting Entrepreneurs in Transformation and Upskilling).
With SETU, mentors in the US who are eager to support entrepreneurship can connect with Indian firms that are just getting off the ground.
The initiative was introduced during a discussion focused on particular concerns with India’s startup ecosystem.
The meeting’s main topics were how to promote domestic incorporation and successful diaspora residents of the San Francisco Bay Area’s mentorship of early-stage Indian startups.
The initiative would provide mentorship and support in a number of areas, including funding, market access, and commercialization, by connecting startups in India to investors and startup ecosystem leaders in the US.
Through the mentorship site created by the Startup India initiative’s MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth) programme, an all-in-one resource for Indian businesses, the interaction between the stakeholders would be facilitated. “There were suggestions about mentorship. We have launched the SETU programme where we are looking at supporting entrepreneurs through transformation and upskilling initiatives. We are also looking at a programme that the startup advisory council had initiated in India in which mentorship is being initiated particularly in tier-2, 3 and 4 towns and remote areas,” Goyal said.