Startup SETU: UPSC Daily Important Topic | 17 September 2022

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.