CII Karnataka Sets Up Startup Task Force

SUMMARY

CII’s chairman Arjun M Ranga said that the task force will assist startups in various aspects including getting access to large corporates and mentorship from CEOs, among others

The CII is primarily looking to build a new ecosystem for startups and help them in tackling problems that they have been facing for some time now

As part of the programme, the CII will further hold events in various co-working spaces in an attempt to onboard startups

The CII Karnataka has launched a startup task force to strengthen the startup ecosystem of Bengaluru.

The ET quoted Arjun M Ranga, chairman of CII Karnataka, saying that the startup task force will assist startups in getting access to large corporates and mentorship from CEOs, and will help in creating the proof of concept as well as connecting startups with angel or venture investors.

Ranga said, “We will help create opportunities for them to work with big industries.”

The CII is primarily looking to build a new ecosystem for startups and help them in tackling problems that they have been facing for some time now.

To build a new startup ecosystem, CII is likely to align a host of stakeholders including the startup founders, mentors, incubators, accelerators, angel investors, and VC firms. In essence, the task force will help identify tasks that are specific to developing the startup ecosystem.

The CII startup task force will act as a bridge for startups that are creating prototypes but are grappling with running test modules or piloting them, said Laeeq Ali, the task force convenor at CII Karnataka.

Ranga further suggested startups to become members of CII and avail various benefits such as attending industry-relevant sessions and events, policy advocacy, interacting with the Centre and becoming globally competent, among others.

It was also informed that during the pandemic many startups took CII membership.

As part of the programme, the CII will further hold events in various co-working spaces in an attempt to onboard startups.

Ranga said that the CII Karnataka presently has nearly 700 members. Of this, about 40% are MSMEs, 10% are academic institutions while the remaining members are large industries and corporations.

In recent times, the Centre and various private bodies have shifted their focus on strengthening or rebuilding the state as well as the country’s startup ecosystem.

So far, Delhi, Maharashtra, Himachal Pradesh, Jammu & Kashmir, Punjab and Chattisgarh are some of the state governments that have launched startup funds, incubators and other initiatives to back startups in their provinces.

A few days back, DPIIT reported that 73,205 Indian startups have created over 7.5 Lakh employment opportunities for the country’s youth. Out of all states, Maharashtra, Karnataka and Delhi created the highest number of jobs for millennials.