Saraswat Chamber draws up plans to support ‘young member entrepreneurs’, signs MoU with AIC  

 Global Chamber of Saraswat Entrepreneurs signs a pact with Atal Incubation Centre, reports Rahul Laud

In a significant development, a memorandum of understanding was signed recently between the Global Chamber of Saraswat Entrepreneurs (GCSE) and the Atal Incubation Centre (AIC)  at Nitte. CA Pratiksha Pai – Director GCSE, Aniruddha Walawalkar – Director GCSE, Pravin Pai Kakode – Director GCSE, Dr. A P Achar – CEO AIC Nitte, Puneet Rai – Incubation Manager AIC Nitte were present on the occasion informed that “this partnership is focussed on promoting innovation and entrepreneurship among the young members and startups within the Chamber.”

For those uninitiated, The Incubation Program is designed for start-ups with scalable and sustainable product/service ideas. AIC Nitte achieves this by offering start-ups with valuable expertise, technological support, investor access, market-entry, networking, and industry connections. Start-ups also receive direction through a robust chain of mentors who impart their sector and domain-specific expertise as real-time practical guidance. Startups can build a Scalable Business Strategy, Functional Minimum Viable Product (MVP), Market Ready, and Sustainable revenue model, and Seed Stage startups are all eligible to apply. The Incubation Program includes Robust training, Business Consultation, Milestones Driven, and Hand Holding incubation support.

CA  Siddharth Sinkar, one of the Founders and Director of The Global Chamber of Saraswat Entrepreneurs, says, “The Chamber stands as the foremost organisation committed to fostering the growth and prosperity of the Saraswat business community.” He elaborated, “ By leveraging advocacy, access to opportunities and resources, capacity building,  economic development, connectivity, and business education, the Chamber aims to support Saraswat Entrepreneurs on a global scale by providing a common platform for connection and collaboration among Saraswat community members.”

The AIC  criteria states both technical and non-technical startups working on new products/services with a scalable business idea, and Prototype – MVP stage or Market Ready stage are all eligible to apply. The Incubation program is open to Company Incorporation Types: Private Limited, Partnership Firm, and Limited Liability Partnership. The AIC states that the company’s Period of Existence should not exceed 10 years from the Date of Incorporation. It also states that the turnover should not exceed more than 10 crores in any of the financial years.

As its future course of action, Chamber Directors inform that the Chamber will call for startups and young entrepreneurs within the Chamber to step forward and take benefit of this MoU by obtaining appropriate mentorship, and other support services to grow their businesses. In addition to technical consultancy Chamber will organise boot camps as agreed by the MoU  

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