Indo-U.S. Startup Accelerator Workshop Assists Aspiring Entrepreneurs

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.