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Aiming to connect start-ups in India to US-based investors and start-up ecosystem leaders with mentorship and assistance in various areas, Minister of Commerce Piyush Goyal launched the US Startup SETU - Supporting Entrepreneurs in Transformation and Upskilling programme in the Bay Area of San Francisco.
The programme aims to help budding entrepreneurs in the sectors including funding, market access and commercialisation.
With much being said regarding the programme, people are anxious 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.
SETU or Supporting Entrepreneurs in Transformation and Upskilling is an Indian government initiative to help budding entrepreneurs and start-up in India to US-based investors and start-up ecosystem leaders with mentorship and assistance in various areas.
To break geographical barriers between mentors based in US that are willing to invest in entrepreneurship and sunrise startups in India.
All interactions can take place through the mentorship portal under the Startup India initiative MAARG, or the Mentorship, Advisory, Assistance, Resilience, and Growth program. This is a single-stop solution finder for startups in India and developed with the idea to be accessible from every corner of the country to connect with a mentor.
According to the government, a mentor through MAARG will offer human intelligence in guiding the startups. Over 200 mentors have been successfully onboarded on MAARG across the globe.
a) improve ease of access
b) use artificial intelligence for matchmaking
c) schedule meetings virtually
d) host masterclasses
e) provide a custom dashboard for relevant information analytics, features, etc.
f) host cohort-based programs that will allow startup ecosystem enablers to be become a part of the program
g) And enable outcome driven activities.
Any budding entrepreneur or Indian startup, willing to grow their business.
As of now, the government has not clarified how the funding issue will be taken care of, but as per expectations, the mentors will guide the budding entrepreneurs and startups to reach out to investors for funding.