India Startup Program Debuts

Tuesday, January 31, 2006

Professionals come together to support the next generation of entrepreneurs.

The Bangalore Chapter of The Indus Entrepreneurs (TiE), a global network promoting entrepreneurship, introduced its Entrepreneurship Acceleration Program (EAP) on Tuesday to bring together successful local entrepreneurs with new entrepreneurs to increase their chances of raising institutional funding.

Early-stage funding in India has been the bane of would-be entrepreneurs, with starry-eyed young men and women rejoining the ranks of the employed after failing to raise any capital.

The recent economic boom in India has resulted in increased entrepreneurial opportunities for people with new, innovative product ideas, or disruptive business and delivery models. It?s a climate where startups are springing up in every area. The fear is they will die if they are not supported early enough.

?One of the key reasons for the shortage of high-quality startups in India is that, unlike in Silicon Valley, there isn?t a mature ecosystem comprised of entrepreneurs, mentors, venture capitalists, seed investors, angels, incubators, law firms, accounting firms, banks, and other elements promoting entrepreneurship,? said Sridhar Mitta, president of the TiE Bangalore Chapter. ?We want to change that.?

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Source: Red Herring (link opens in a new window)