With an aim to connect start-ups in India to US-based investors and start-up ecosystem leaders with mentorship and support across various sectors, Commerce Minister Piyush Goyal has launched the US Startup Setu – Entrepreneurs in Transformation and Upskilling Program in the Gulf Region. supported. San Francisco.
The program aims to help budding entrepreneurs in areas including funding, market access and commercialization.
With a lot being said about the programme, people are curious to know how SETU will connect Indian start-ups with US investors who can apply, funding details and other details. Here in Livemint we try to decode it.
Read also: Goyal launches SETU in the US; Target to connect Indian startups with US investors
What is a bridge?
SETU or Auxiliary Entrepreneurs in Transformation and Upskilling is a Government of India initiative to help budding entrepreneurs and start-ups in India with advice and support to US-based investors and start-up ecosystem leaders in various fields .
Purpose of the bridge:
To break down the geographic barriers between US-based advisors who are willing to invest in entrepreneurship and sunrise startups in India.
How will they connect with Indian entrepreneurs?
All interactions can happen through the mentorship portal under the Startup India initiative MAARG, or the Mentorship, Advisory, Assistance, Resilience and Growth programme. It is a one-stop solution finder for startups in India and has been developed with the idea to connect with a mentor from every corner of the country.
According to the government, a mentor through MAARG will offer human intelligence to guide startups. More than 200 consultants around the world have been successfully included on MAARG.
Main functions of the route:
a) improve ease of access
b) Use artificial intelligence for matchmaking
c) Schedule meetings virtually
d) host masterclass
e) Provide a custom dashboard for relevant information analysis, features etc.
f) Host cohort-based events that will allow enablers the startup ecosystem to be a part of the program
g) Enable more result driven activities.
Who can apply:
Any budding entrepreneur or Indian startup, who are willing to grow their business.
Financing:
As of now, the government has not clarified how the funding issue will be addressed, but as expected, mentors will guide budding entrepreneurs and startups to reach out to investors for funding.
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