The US Embassy has announced the launch of Nexus Startup Hub aimed at creating a dynamic ecosystem for startups in India. The US Embassy runs the Startup Hub in partnership with the IC 2 Institute at the University of Texas-Austin.
As per the Embassy, Nexus has imparted a 10-week pre-incubation programme for 20 startups since its inception. Nine of those have been selected for long-term incubation. The third cohort of startups is undergoing the pre-incubation programme which started at the end of January.
Besides this, the US Embassy also announced two new Nexus initiatives for 2018, which include special training, mentoring for female entrepreneurs and expansion of this hub through South Asia Connect to neighbouring countries like Bangladesh, Bhutan, Nepal and Sri Lanka.
The initiative has brought big names in Indian startup ecosystem including the American Chamber of Commerce, the Indus Entrepreneurs (TiE), the Indian School of Business (ISB), the Federation of Indian Chambers of Commerce and Industry (Ficci) and the Indian Angels Network (IAN).
Last year in November, India and US had also co-hosted the Global Entrepreneurship Summit in Hyderabad with the theme ‘Women First, Prosperity for All’.
Even social media giant Facebook has been impressed with the current growth of Indian startup ecosystem and is willing to invest in more startups this year.
The US-based social site has been looking to support small businesses in India, particularly those run by women to help them connect, share and grow through more initiatives like #SheMeansBusiness and #SheLeadsTech. These programmes give women-founded/co-founded startups access to a year-long program that provides tools, mentorship, and resources to grow their business.
Through #SheMeansBusiness, the social media company has visited 18 cities across 6 states in India, providing skills training to more than 14,000 small businesses and self-help groups including 12,000 women entrepreneurs across the country.