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CII inks three-year partnership with MeitY to boost startup ecosystem in India

Posted on Monday, March 11, 2019

Times News Network

The Confederation of Indian Industry (CII) has entered into a three-year partnership with the Ministry of Electronics and Information Technology (MeitY) on Wednesday, March 6, 2019, with the aim to boost the startup ecosystem in India. The MoU states that start-ups in electronics and IT sector, developed by MeitY, will be brought under the ambit of CII’s Corporate-Start-up Business Connect Platform, which will aid them to connect with the industry for mutual benefits and accessing global markets.

 These organisations will mentor the startups to get to the supply chain, if possible, and invest in the same as well if there is a possibility for mutual business benefits.
Kris Gopalakrishnan, chairman, CII Start-up Council, says that the collaboration will be helpful for CII member firms as well because these start-ups are working in technologies like Artificial Intelligence (AI) / Machine Learning (MI), and Internet of Things (IoT).
The MeitY Startup Hub and CII will work together to create an ecosystem for inviting international start-ups to explore the Indian market on affordable terms. These foreign start-ups will be offered free/near free space for a certain period of time in a city of their choice in India, inside a co-working arrangement. The idea is to allow the foreign firms to fine-tune their product as per the demands and standards of the Indian market. Similar soft-landing opportunities will be rendered to Indian start-ups in other countries too.


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