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CII launches ‘Startup Mentorship Circle’ to connect startups to the global marketplace

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In a boost to PM Narendra Modi’s ‘Startup India’ initiative, the Confederation of Indian Industry (CII) has launched ‘Startup Mentorship Circle’- a unique platform to help connect startups with the global marketplace.

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According to an Economic Times Report, the platform is aimed at nurturing innovation and startups to drive sustainable economic growth and generate large scale employment opportunities. The industry body will focus on startups which have been in operation for 2-5 years and those that need support for the next stage in order to scale up.

Speaking to ET, Sanjiv Bajaj, chairman of CII's western region entrepreneurship & startup sub-committee said, "The government has a lot of facilities for startups but many don't know how to access them. The nature of mentorship will be to assist startups in further fine-tuning their business plans, linking them to relevant member companies in the CII base, and help companies find relevant customers and strategic investors."

Apparently, the platform would be an enabling experience for startups in terms of partnerships with the Canadian and Israeli governments where special facilities and tax sops will be provided to startups to seek joint ventures with their global counterparts.

Bajaj also stressed that funding isn’t the focus point here, "While funding may be slow in some sectors, overall, there is enough capital. So for CII, rather than being a fund, it is more important for companies to have a strategic interest in the startup business and through that they may provide funding. Funding by itself is not our main criteria; mentoring is," he was quoted as saying.

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