Indo-German startup incubator eyes east

Kolkata: The German Indian

Startup

Exchange Program (

Ginsep

) for the first time has evinced interest in eastern India. In a day-long workshop at Neotec Hub in Sector V on Tuesday, the platform identified and addressed the concerns of Indian startups looking to start operations in

Germany

.

Ginsep assists German and Indian startups by offering networking opportunities through various events, information, and assistance in gaining access to markets in both the countries.

Speaking to TOI, Ginsep project head Julian Zix said, “Last year, we worked with around 50 startups, of which 30-35 were Indian. This year, we hope to work with at least 100 startups.”

Ginsep is also planning to expand its sphere of work by helping startups connect with investors from this year. “We have several German investors onboard. We shall also organize an investors’ tour to Germany later this year,” Zix said. He added that India will be able to find a place in the top-five list of foreign startups in Germany over the next 10 years.

Parthiv Neotia, director of Neotec Hub, said, “We have identified six startups from our pool which have expressed their interest to work in Germany. They will operate in edtech, fin-tech, renewable energy and healthcare sectors. Ginsep will evaluate their applications.”

Around 16 startups from various institutes, including JU, participated in Tuesday’s workshop. Another director of Neotec Sanjay Sarda said, “Funding should actually be the least of concerns for a startup. There are several factors that make or break a business. Ginsep will guide startups in legal obligations, banking procedures, market information, etc. We prepare startups by mentoring them on business viability and generating profits while innovating. The recent signing of MoUs between Germany and India will surely help the startups as well.”


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