On June 24, 2017 Prime Minister Narendra Modi has launched the India-Portugal International Startup Hub (IPISH) with the help of his Portugese counterpart Antonio Costa.
Reason to start the hub
His perception behind this is to enable interactions between start-ups, incubators and investors, and to help in mutual capacity creation from relevant sectors.
The platform will help Indian startup
As per a statement made by the External Affairs Ministry, this is a platform started by Indian startup which is backed by Commerce and Industry Ministry along with Startup Portugal to build a mutually supportive entrepreneurial partnership.
It will enable startups-investor connections
It also said that, “IPISH is expected to help in mutual capacity building, and enable connections between start-ups, investors, and incubators from relevant sectors. It is also expected to establish a network of honorary ambassadors based in India and Portugal to guide start-ups from both countries”.
Go-To-Market Guide for Startup
Ministry also said that IPISH will host several tools and cater the imformation on stratup hostspots of Delhi, Lisbon and Bengaluru along with the related subjects including taxation, policy, visa options and so on. It is to create a Go-To-Market Guide for startups.