India’s startup ecosystem is set to get a boost with four big business groups signing up to lend their support. The focus of the initiative will be on students and micro, small and medium enterprises (MSMEs). The aim is to promote knowledge and information exchange along with dissemination in Atal Innovation Mission (AIM) initiatives.
The initiatives include Atal Tinkering Labs (ATL), Mentor India, Atal Incubation Centres (AIC) and Atal New India Challenges (ANIC).
Puneet Pushkarna, chairman of TiE Singapore, one of the four groups involved, said, ““Backed with a strong intellectual capital, we hope to support a vibrant startup ecosystem in India and foster innovation among students and startups, both in the urban and rural communities.”
The collaboration is part of the Statement of Intent (SoI) that was signed during Prime Minister Narendra Modi’s visit to Singapore and starts in July 2018.
Extending to MSMEs, the SoI was signed between Atal Innovation Mission (AIM), NITI Aayog and four Singaporean organisations – The Indus Entrepreneurs (TiE) Singapore, IIT Alumni Association Singapore (IITAA), Pan IIM Alumni (PIIMA) and The Indian School of Business Alumni Association – Singapore Chapter (ISBAAS).
The collaboration with AIM is to strengthen India’s ecosystem of innovation and entrepreneurship, along with the ties between Indian and Singaporean startup ecosystems.
As per reports, TiE is hoping to open doors for Indian innovators while enhancing market access opportunities for them in and around the region.
NITI Aayog will collaborate Singapore-based organisations through TiE Singapore members and Singapore’s IIT, IIM, ISB alumni’s relevant expertise to work on developing innovation and entrepreneurship in India – under AIM’s umbrella.
The initiative will primarily focus on students, startups, MSMEs and rural communities and will make for exploration of regional and global potential for growth – through Singapore.