On July 20, 2022, The confederation of Indian Industry, CII Karnataka, announced the launch of the ‘Startup Task Force’ with a vision to strengthen the startup ecosystem in Bangalore, India. Along with the launch of the task force, CII also introduced various initiatives to support startups in the business-to-business (B2B) segment.
Purpose of the Startup Task Force
The Startup Task Force intends to work in specific areas to boost the startup ecosystem in Bengaluru, India. Besides, it will also help develop startups in tier-II cities.
The force would provide the startups with requisite assistance, including access to large corporates, mentorship by CEOs, helping them with proof of concept (PoC) in large industries and connecting them with angel or venture investors.
The CII Karnataka’s startup task force seeks to cater as a bridge for startups that are creating prototypes but face hurdles in running test modules or piloting them. Meanwhile, CII will further host sessions and events in various co-working spaces in an attempt to onboard startups and further expand its outreach.
The CII plans to begin with 25 startups that will benefit from the latest initiative. Startups that will come under the mentorship of CII would-be recipients of many advantages. They will have more contact with policy advocacy and interactions with the government at the highest level and become globally competitive. The CII Karnataka has around 700 members. However, only about 40 per cent of them are MSMEs, and 10 per cent are academic institutions such as engineering colleges and b-schools. The remaining belong to large industries and corporations.
What the officials have to say
CII Karnataka chairman and the MD of N Ranga Rao & Sons, Arjun M Ranga, said, “MSME engagement being a key focus area, CII Karnataka has been promoting growth and development for MSMEs as well as converging on policy-related interventions. We will help create opportunities for them to work with big industries.”
In addition, Vijaykrishnan Venkatesan, Vice-chairman, CII Karnataka, said, “Industry-institute interaction has been initiated as a new engagement plan, considering the membership strength of Karnataka, the need to build greater engagement between industry and academia to equip youth with future-ready work and business skills.”
“Within the ecosystem, we will align a lot of stakeholders, including startup founders, mentors, incubators, accelerators, angel investors, and VC firms. The Task Force will focus on identifying the tasks specific to building the startup ecosystem, “Laeeq Ali said.
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