The IVCA Guidebook for Entrepreneurs including a complete section on “Guidelines on board meetings”. At the national level, IVCA is scaling to achieve global best practices. This report is a step forward to help startup founders run a successful business professionally and lead efficient board meetings.
On the occasion Ramesh Abhishek said, “The Department of Industrial Policy and Promotion (DIPP) has urged the Corporate Affairs Ministry (MCA) to tweak the CSR guidelines to have a flexible regime for supporting incubators. We have suggested that CSR guidelines should not have stipulations around the location of the incubators. So long as it is an incubator supported by the government, any corporate spend on such incubators should be counted for CSR no matter where the incubator is located”
“The credit guarantee scheme for startups is in the works and the matter is before the Union Cabinet. The idea is to guarantee debts of startups up to Rs 2 crore,” he added.
Gopal Srinivasan, chairman of IVCA and TVS Capital commented, “Creating managers in the industry can prove to be very impactful. 17 new managers have been created so far for the same. Also, competitiveness amongst states to rank higher has been a major factor for improvisation. The government and the industry together can enhance the ease of doing business. A lot has to be done in the future and the foreign capitals of investments have to be brought to India.”
Rajat Tandon, president of IVCA said, “The average age of an Indian startup founder is 28, which indicates less than a decade of work experience and certainly less legal and finance expertise in case of tech founders. In case of laws, compliances, filing or corporate governance, every startup, be it in the early stage or growth stage, needs strict abidance of framework and protocols. Besides, the know-how of an efficient Board Meeting acts as a lifeline for any startup Founder, as it sets the pace and tone for not only them but also for the investors and other Board Members.
At IVCA, a part of our mission is ‘to support entrepreneurial activity and innovation, as it helps establish high standards of ethics, business conduct, and professional competence.
IVCA also serves as an effective platform for investment funds to interact with each other.
The Association stimulates the promotion, research and analysis of private equity and venture capital in India, and facilitates contact with policy makers, research institutions, universities, trade associations and other relevant organizations.