New Delhi: Recognizing that
U.S-India business ties are fundamental to the success of many international
initiatives, the Indo-U.S. Science and Technology Forum, the U.S. Embassy, and
the Federation of Indian Chambers of Commerce & Industry (FICCI), in
partnership with the Department of Science and Technology (DST) and 91
springboard, organized the Indo-U.S. Startup Accelerator Workshop to develop
innovative solutions to address common startup challenges. The workshop took place at FICCI, Federation
House, New Delhi November 22-23, 2013 .
Aimed at connecting entrepreneurs
with investors, venture capitalists, and mentors, the two-day event was
inaugurated by the U.S. Ambassador to India Nancy J. Powell, Nandan Nilekani,
Chairman of Unique Identification Authority of India, and Dr. T. Ramasami,
Secretary, DST.
Over 180 innovators, startups,
entrepreneurs and investors participated in the workshop, including awardees of
the U.S-India Science & Technology Endowment Board, the U.S. Agency for
International Development (USAID)-FICCI-DST Millennium Alliance, DST-Lockheed
Martin India Innovation Growth Program, and the Stanford India Biodesign
program. In addition to discussions on
how to manage challenges that arise with financing and revenue generation,
securing intellectual property protection, and developing products and
services, the concluding session provided select startups with an opportunity
to pitch their ideas to angel investors and venture capitalists for funding.
Going forward, the Department of
Science & Technology, the U.S. Embassy, FICCI, Indo-U.S. Science &
Technology Forum and partners including USAID, plan to develop an
institutionalized acceleration program.
The program will assist startups in their journey to become revenue
generating businesses. FICCI and the
Technology Development Board also announced that they will organize additional
workshops in specific sectors, such as manufacturing, and that they will be
conducted in all major cities across India
to assist startups and increase their odds of success.