Startup SETU: UPSC Daily Important Topic | 4 April 2023

Startup SETU

✅SETU or Supporting Entrepreneurs in Transformation and Upskilling is an Indian government initiative under Ministry of Commerce & Industry.

✅The initiative would connect start-ups in India to US-based investors and start-up ecosystem leaders with mentorship and assistance in various areas including funding, market access and commercialization.

✅Significance:

•To break the geographical barriers between US mentors willing to invest in entrepreneurship and sunrise startups in India.

•The interaction will be supported through the mentorship portal under the Startup India initiative MAARG, or the Mentorship, Advisory, Assistance, Resilience, and Growth program, which is a single-stop solution finder for startups in India.

•The portal has been developed with the idea to be accessible from every corner of the country to connect with a mentor.

✅Need:

•It is estimated that about 90% of the start-ups and more than half of the well-funded startups fail in their early days. Lack of experience in handling the business is a key issue, and founders require the right guidance for taking a decision and moral support.

•As India becomes a leading start-up destination, the proper guidance at the right time is paramount.

•Further, the Government of India invites stalwarts, seasoned experts, and industry leaders to give back to the nation by adding value to a startup’s journey.