MoU signed between Invest India & Founders Alliance

Stockholm, Sweden, 12th Oct 2017: Invest India today signed a Memorandum of Understanding (MoU) with Founders Alliance, a network for Sweden's leading entrepreneurs. Singing of the 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. ‘Sambandh’ stands at the core of this alliance and means ‘Relationship’ in Sweden as well as India.

The SISS MoUwas signed today between Deepak Bagla (CEO & MD, Invest India) and NiclasCarlsson (Founder - Founders Alliance) at Stockholm, Sweden. Invest India hosts‘Startup India’, a Government of India initiative, whose team is mandated toact 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 valuein terms of knowledge, experience, contacts and inspiration to its members. 

Taking theinitiative forward, today, in the presence of Shri Suresh Prabhu (Minister ofCommerce and Industries, Government of India) and Mr. Niklas Johansson (SwedishState Secretary to Minister of Enterprise and Innovation), the Sweden IndiaStartup Sambandh (SISS) Hub was launched by Karan Anand (Invest India) andNiclas Carlsson (Founders Alliance) 

Salientfeatures of the SISS Hub include: 

Go-to-marketGuide for Swedish Entrepreneurs to enter India – Comprehensive guides and toolkitsthat will assist startups with the visa process, tax system in India, companyincorporation, etc.

Introductionto the Indian Startup Ecosystem - Acquaint the startups with the Indian market and variousstakeholders of the startup ecosystem, enabling them to build meaningfulrelationships

One-on-OneFacilitation Platform  The startup India team through the portal will facilitateand assist Swedish startups through their lifecycle with the variouschallenges they may face. 

InvestIndia, in collaboration with Founders Alliance, will manage the portal andcontinue to update content and add features as neutral intermediaries betweenthe Indian and Swedish startup ecosystems. The SISS Hub is envisaged to be thetechnology infrastructure and common platform via which future joint programswill be run.

An exchangeprogram between startups, incubation centers, educational institutions and privateorganizations of both countries, who aspire to foster the spirit of innovationin their respective ecosystems is also being planned for next year.

Speakingabout how the initiative will enable interaction between the India-Swedenstartup ecosystems, Karan Anand said, “We are proud to partner with FoundersAlliance to increase engagement between the two startup ecosystems. Stockholmalone is home to more than 20,000 startups and India provides a huge marketthat has been untapped by Swedish startups. This SISS Hub will offer a greatplatform to Swedish startups to get guidance on how to enter the Indian market,and will provide Indian startups an opportunity to collaborate with the Swedishstakeholders. We look forward to building meaningful relationships through thisinternational alliance.” 

From theSwedish side, Niclas Carlsson, Founder & CEO of Founders Alliance added ”Weare proud to partner with Invest in India to nurture sustainable growingstartups in all business sectors from all of Sweden as well as intensify andenable a  greater exchange between our respective pools of greatentrepreneurial leaders that lead to industry and societies in our countriesthat will benefit our global society through collaborations. I am happy, Investin India took the first initiative and we look forward to assemble ourentrepreneurs and other key Swedish organizations under this platformimmediately and for many years to come” 

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