On his recent visit to Portugal, PM Narendra Modi launched the India Portugal International Startup hub alongwith the Portugese PM Antonio Costa. This startup hub has been developed to foster the connection between the startup ecosystems of both the countries. This platform can be assessed via Android and IOS Apps. The purpose behind the same was to strengthen the connection between the different startup systems and to allow ease of access for entrepreneurs. The platform will help startups interact and connect which will foster learning and development, networking, funding and mentorship.
It provides complete information about the startup hotspots of both the nations- Bengaluru, Delhi and Lisbon. It also provides information on subjects which include government initiatives for both the countries, tax system, visa process and policies. Further, there will be a Go to Market Guide that will support startups. It is expected to help with capacity building and to help in building connections between startups, investors as well as incubators across different sectors.
Portugal has the highest rate of business creation in Europe and their startup ecosystem will now have access to information about the Indian startups and concise information that will allow them to connect with like minded individuals in India. Indian startups and investors aiming for an International strategy can benefit from this initiative and it could work as a successful point of expansion.
The Startup hub was initiated by Startup India and is supported by the Commerce and Industry Ministry and Startup Portugal. Furthermore, it has partnered with various organizations, entrepreneurs and investors to come onboard and help developing startups across both the countries. This move has been appreciated across the startup sector in India, which is seen as an opportunity to expand operations and strategy across Europe.