You are here: Home » SME » SME News
Business Standard

CII launches initiative to support start-ups

BS Reporter 

The Confederation of Indian Industry has launched an initiative, 'Startupreneurs', to promote and nurture entrepreneurs and in Chennai. The lobby group will conduct the event on November 24 this year, to create a meeting place for select to meet industry leaders and high net worth individuals (HNIs).

Startupreneurs will feature an exposition, scheduled for November 24 in Chennai, with the aim of showcasing innovative ideas, emerging technologies and new business models of and budding entrepreneurs. It will also create an opportunity for to meet leading industry figures and potential venture capitalists to raise capital for their business, Chennai said.


The organisation has launched a website and will invite applications from around 1,000 in Chennai. Of this, it will select the 100 best start-ups, including from schools, colleges and other educational institutions, some of which are already operational, said Anand P Surana, who leads the IT, ITeS and electronics panel of Chennai.

The advisory committee for the initiative consists of Gopal Srinivasan, chairman and managing director of TVS Capital Funds; R Ramraj, senior advisor with Sequoia Capital India; Lakshmi Narayanan, vice-chairman, Cognizant Technology Solutions; Arun Jain, chairman and managing director of Polaris Financial Technology Ltd and N K Ranganath, managing director of Grundfos Pumps India Pvt Ltd.

Other industry-related organisations such as TiE, Nasscom and Chennai Angels have also joined hands with this initiative as partners.

The will be selected from seven sectors -- automobile and auto components, manufacturing and engineering, FMCG/consumer durables, and healthcare, IT & ITeS, education and infrastructures. The top performers in the event will travel separately on short trips to Switzerland, Silicon Valley and Harvard University for a start-up programme, the advisory committee members said.

The members would help the by supporting them, mentoring them and even buying from these start-ups, to enable them to grow, Ramraj said. The mentors and should meet periodically, Jain said.

First Published: Mon, September 22 2014. 21:25 IST
RECOMMENDED FOR YOU