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India, Sweden launch initiative for start-ups

India,-Sweden-launch-initiative-for-start-ups

India, Sweden launch initiative for start-ups

New Delhi, October 13: India and Sweden are putting in place a mechanism to foster greater cooperation among start-ups and help them enter each other’s markets.

“A Sweden-India ‘Startup Sambandh’ initiative has been launched by Invest India and Founders Alliance in Sweden for higher cooperation among start-ups. The initiative is part of a larger MoU signed between the two to promote start-ups,” a government official told BusinessLine.

Startup Sambandh includes an online portal, which has a go-to-market guide for Swedish entrepreneurs looking to enter India, resources regarding the Indian start-up ecosystem and a one-on-one facilitation programme through which dedicated sector experts will assist Swedish start-ups in their Indian foray.

At a Make in India show organised by India in Stockholm this week, Commerce and Industry Minister Suresh Prabhu said ‘Swedish makers’ can be the mentors to India’s burgeoning ‘good ideas’.

“India is working with all possible institutions in the country to provide the correct ecosystem for start-ups to boom,” he said.

As part of creating a suitable atmosphere for start-ups in the country, the minister invited venture capitalists and angel investors to India to seek the opportunity presented by Indian start-ups. “Create a Silicon Valley without silicon — a start-up ecosystem not on ground but online and in real-time.”

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