New Delhi, June 11 (KNN) Four giant business groups are working in order to support start-up ecosystem in India, especially focusing on students and micro, small and medium enterprises (MSMEs).

The 4 groups aim to promote knowledge and information exchange and dissemination in Atal Innovation Mission (AIM) initiatives such as Atal Tinkering Labs (ATL), Mentor India, Atal Incubation Centers (AIC) and Atal New India Challenges (ANIC).

“Backed with a strong intellectual capital, we hope to support a vibrant startup ecosystem in India and foster innovation among students and startups, both in the urban and rural communities,” said Puneet Pushkarna, chairman of TiE Singapore with business links to Silicon Valley in the United States.

The collaboration, starting July 2018, comes under the Statement of Intent (SoI) signed during Prime Minister Narendra Modi’s visit to Singapore 31 May – 2 June 2018.

The SoI, also covering MSMEs, is between Atal Innovation Mission (AIM), NITI Aayog and four organizations from Singapore – The Indus Entrepreneurs (TiE) Singapore, IIT Alumni Association Singapore (IITAA), Pan IIM Alumni (PIIMA), and The Indian School of Business Alumni Association – Singapore Chapter (ISBAAS).

This collaboration with AIM is for India’s innovation and entrepreneurship ecosystem and it will further strengthen the bridge between India and Singapore’s startup ecosystem, said Pushkarna.

TiE hopes to be the door opener for innovators from India and to enhance market access opportunities for them in the region and beyond, he added.

NITI Aayog will collaborate with the Singapore based organizations by tapping TiE Singapore members’ and Singapore’s IIT, IIM, ISB alumni’s relevant expertise to foster innovation and entrepreneurship in India, under the umbrella of AIM.

This initiative primarily focuses on students, startups/MSMEs and rural communities and enables them to explore regional and global growth potential through Singapore.