Govt launches incubation cell to support export startups

19 Jul '16

1 min read

In line with the government's policy of encouraging entrepreneurial spirit among the youth, the Union Minister of MSME Kalraj Mishra today inaugurated the Incubation Cell at the Indian Institute of Foreign Trade (IIFT) designed to provide export start-ups with necessary hand holding support for expanding their existing domestic business into foreign markets.

Called “KITTES (Knowledge for Innovation in Trade & Technology for Entrepreneurial Start-ups), the incubation cell is an initiative dedicated to startups in the domain of international business.

Run by the Centre of MSME Studies at IIFT (Delhi), the aim of KITTES is to provide guidance and technical support for MSME start-ups right from ideation stage to their internationalization towards taking a final leap into foreign markets, an official release said.

The Incubation cell will be supported by an advisory body consisting of industrialists, venture capitalists, technical specialists and managers to help entrepreneurs realize their dreams through a range of infrastructure, business advisory, mentoring and financial services.

IIFT will facilitate mobilising of loans for export purpose, build awareness on export financing and insurance schemes and export promotion measures, it said. (SH)

Fibre2Fashion News Desk – India

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