Piyush Goyal, the minister of commerce and industry, has introduced an initiative program “SETU” (Supporting Entrepreneurs in Transformation and Upskilling) to link Indian companies with US-based investors.
The goal of SETU is to eliminate geographic obstacles between US mentors who are willing to support entrepreneurship and India’s early-stage firms.
The initiative was introduced during a discussion centered on particular concerns with the Indian startup ecosystem.
The project will provide mentorship and support in a variety of areas, including funding, market access, and commercialization, by connecting businesses in India to investors and startup ecosystem leaders in the US.
The Startup India initiative’s MAARG (Mentorship, Advisory, Assistance, Resilience, and Growth) program, which serves as a one-stop shop for Indian companies, will enhance stakeholder interaction through the mentorship site.
“Insights into mentoring were offered. The SETU program has been launched, and its goal is to support entrepreneurs through activities aimed at skill upgrading and transformation. As part of the program, mentorship is being started specifically in tier-II, tier-III, and tier-IV areas. This program was started by the startup advisory council in India “said Goyal.
It is believed that over 90% of the businesses and more than half of the well-funded startups fail in their early days.
Lack of company management experience is a major problem, and entrepreneurs need the correct advice for making decisions as well as moral support.
Mentors from all over the world are invited to submit applications to MAARG. Over 200 mentors have joined MAARG to date, and they come from all over the world.