India's 'Startup Sambandh'(SISS) with Sweden

India's 'Startup Sambandh'(SISS) with Sweden

Posted by P. Charitha on October 14th 2017

Sweden and India have had long standing industrial as well as other strategic ties since 1949 & some of the main Swedish exports to India are pharmaceuticals, engineering products, telecom equipment & automobiles. Not many know that the famous ‘Tetra Packs’ multinational food packaging & processing company has been making these food & beverage packaging in India for 30 years now. So has IKEA which has been sourcing from 48 suppliers  in India for its stores around the world. Ericsson famous for its mobile phones has had a long partnership with Government of India since 1903 by supplying manual switchboards to them. From this it has moved on to Mobile broadband, Managed Services to Media, IT and Industries. Last week the Swedish Automobile giant Volvo has also set up its has started CKD operations for local assembly of its cars in India and also rolled off their first ever made-in-India car, SUV – XC90. 
 
To further strengthen these ties, India organised  “The Make in India” show in Stockholm this week. Speaking at the event, the Commerce and Industry Minister Mr. Suresh Prabhu  said ‘Swedish makers’ can be mentors to India’s burgeoning ‘good ideas’. “India is working with all possible institutions in the country to provide the correct ecosystem for start-ups to boom,” he said.
 
The minister also invited venture capitalists and angel investors to India and come and be a part of the Indian start-up Ecosystem. “Create a Silicon Valley without silicon — a start-up ecosystem not on ground but online and in real-time”, is what he said at the event.
 
Sweden India Startup Sambandh (SISS) by Invest India & Founders Alliance
To further foster and take this cooperation ahead, a Sweden-India ‘Startup Sambandh’ initiative was launched by Invest India and Founders Alliance in Sweden for higher cooperation among start-ups. An MoU to that effect was also signed by both the countries. (This was told by a government official to BusinessLine.)
 
-Invest India hosts ‘Startup India’, a Government of India initiative, whose team is mandated to act as the central point of contact for the entire startup ecosystem in India.
-Founders Alliance in a not-for-profit organization that works to provide value in terms of knowledge, experience, contacts and inspiration to its members.

Features of the SISS Hub include:
  • Go-to-market Guide for Swedish Entrepreneurs to enter India –Comprehensive guides and toolkits that will assist startups with the visa process, tax system in India, company incorporation, etc.
  • Introduction to the Indian Startup Ecosystem - Acquaint the startups with the Indian market and various stakeholders of the startup ecosystem.
  • One-on-One Facilitation Platform –The startup India team through the portal will facilitate and assist Swedish startups through their lifecycle with the various challenges they may face.
  • The SISS Hub is envisaged to be the technology infrastructure and common platform via which future joint programs will be run.
Future Plans
Apart from building meaningful relationships through this initiative, an exchange program between startups, incubation centers, educational institutions and private organizations of both countries is also being planned for next year.
 
The singing of this MoU marks the start of Sweden India Startup Sambandh (SISS) – which focuses on deepening engagement among stakeholders in both ecosystems, providing favourable business environment and necessary guidance to startups of both countries for sustainable growth of their businesses in India and Sweden. The SISS MoU was signed between Deepak Bagla (CEO & MD, Invest India) and Niclas Carlsson (Founder - Founders Alliance) at Stockholm, Sweden.

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