Piyush Goyal launches initiative to link Indian startups with US investors

• ByStartupStory     |    September 9, 2022

According to Union Minister of Commerce Piyush Goyal, the India-US start-up SETU, which stands for Supporting Entrepreneurs for Transformation and Upskilling, would operate as a link between American and Indian enterprises. 

The conference was on how to foster domestic incorporation and mentorship of early-stage Indian firms by successful diaspora members in the San Francisco Bay Area. The project will link Indian businesses with US-based investors and startup ecosystem experts to provide mentorship and support in areas such as fundraising, market access, and commercialization.

The engagement of stakeholders will be facilitated through the mentoring portal, a part of the Startup India project MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth), which is a one-stop solution finder for businesses in India.

Goyal said, “One of the key takeaways is that the Bay Area is very bullish on India, very excited about the potential that India, Indians and Indian startups and Indian businesses have to offer. Very excited about the talent available in India. They see huge potential in the large market that India is, 1.3 billion aspirational Indians”. He added, “ “There were suggestions about mentorship. We’ve launched the SETU program where we are looking at supporting entrepreneurs through transformation and upskilling initiatives. We’re also looking at a program that the startup advisory council had initiated in India in which mentorship is being initiated particularly in tier-2, tier-3, and tier-4 towns and remoter areas. A lot of good suggestions have been brought to the table.” 

While encouraging investments in India, the minister stated that corporations will benefit from a competitive environment as well as a vast billion-plus market of ‘aspirational Indians.’ Goyal emphasized the country’s massive market potential, saying there are advantages to economies of scale and the availability of a vast skill pool.

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