In a significant step towards fostering collaboration between Swedish and Indian startup ecosystems, Invest India and Founders Alliance have signed a Memorandum of Understanding (MoU), marking the official launch of the Sweden India Startup Sambandh (SISS). The MoU, signed on October 12, 2017, in Stockholm, Sweden, aims to deepen engagement and provide startups from both countries with the tools and guidance they need to thrive in each other’s markets.
At the core of the initiative lies the term ‘Sambandh,’ meaning ‘Relationship’ in both Sweden and India, symbolizing the long-term partnership between the two nations. The signing ceremony was attended by key figures including Shri Suresh Prabhu, Minister of Commerce and Industry, Government of India, and Mr. Niklas Johansson, Swedish State Secretary to the Minister of Enterprise and Innovation.
The collaboration aims to provide Swedish startups with valuable insights and resources to successfully enter the Indian market, one of the largest and most dynamic economies in the world. The SISS Hub, launched at the event by Karan Anand (Invest India) and Niclas Carlsson (Founders Alliance), offers several key features to support Swedish entrepreneurs:
- Go-to-market Guide for Swedish Entrepreneurs: Comprehensive toolkits covering key aspects such as visa processes, company incorporation, and the Indian tax system.
- Introduction to the Indian Startup Ecosystem: A platform for startups to get acquainted with the Indian market and its various stakeholders, facilitating meaningful connections and collaborations.
- One-to-One Facilitation Platform: Personalized support through the Startup India team, assisting startups with challenges and offering guidance throughout their business lifecycle.
The SISS Hub, managed by Invest India and Founders Alliance, will continue to update the platform with new content and features, acting as a neutral intermediary between the startup ecosystems of India and Sweden. The platform also plans to host exchange programs between startups, incubation centers, educational institutions, and private organizations from both countries, with an eye on fostering innovation and collaboration.
Karan Anand, speaking on the launch of the initiative, highlighted the tremendous potential for collaboration, noting that Stockholm is home to over 20,000 startups, and the Indian market remains largely untapped by Swedish entrepreneurs. He emphasized that the SISS Hub will be a pivotal platform for Swedish startups to explore India’s business landscape, while also creating opportunities for Indian startups to collaborate with Swedish stakeholders.
Niclas Carlsson, Founder and CEO of Founders Alliance, echoed this sentiment, expressing pride in the partnership with Invest India and his excitement for the opportunities it will unlock for Swedish startups. He noted that this initiative would bring together entrepreneurial leaders from both nations, ultimately benefiting the global economy through industry and societal collaborations.
The SISS Hub represents a long-term commitment to building meaningful relationships and supporting sustainable business growth between India and Sweden.
