New Delhi, Apr 29 (KNN) The Confederation of Indian Industry (CII) has introduced a new corporate governance charter tailored specifically for startups. 

The charter aims to provide guidance on governance practices suitable for different startup growth stages.

A key feature is an online self-evaluation scorecard that startups can use to assess their current governance status and track improvements over time. The scorecard covers four key stages - inception, progression, growth and going public.

"While innovation is vital for startups, robust governance improves decision-making and promotes long-term thinking," said Kunal Bahl, chairman of the CII National Startup Council. "Embedding governance principles early becomes part of the startup's DNA", reported ET.

The move comes amid some governance concerns at major startups like Byju's and BharatPe over the past year. 

CII Director General Chandrajit Banerjee stated the charter will help raise overall governance standards among Indian startups.

With investors increasingly demanding tighter financial controls, the charter provides governance guidance timely for the booming startup ecosystem. 

G20 Sherpa Amitabh Kant recently highlighted proper audits and competent CFOs as crucial for startups aspiring to become large companies.

(KNN Bureau)