The Indian Venture Capital and Alternate Capital Association (IVCA) has collaborated with global professional services firm Deloitte to create a startup governance manual. The manual provides a framework of corporate governance rules to assist startups in building ethical and transparent enterprises.
According to a joint statement, the release of this handbook is part of IVCA's objective to educate Indian entrepreneurs on the fundamentals of governance and to develop a culture of trust, openness, and authenticity in India's expanding startup ecosystem.
The IVCA is India's leading industry organisation for alternative assets, focusing on the Indian investing ecosystem. Domestic and worldwide venture capital (VC) businesses, private equity firms, infrastructure and real estate funds, credit funds, limited partners, investment companies, family offices, corporate VCs, and knowledge partners are among its members. These funds, among other things, invest in emerging enterprises, venture growth, buyouts, special situations, distressed assets, and credit and venture loans.
The 'The Startup Governance Playbook' comprises contributions from many ecosystem participants, including founders, investors, specialists, and academic and research institutions, to develop a complete framework of governance for businesses.
The rules are simple to apply and expand upon, and the various corporate governance practises stated in the playbook will serve as a reference point for startups at each of the important growth stages, according to the statement.
India has the world's third largest startup ecosystem. The 'India Opportunity' tale is moving quickly, thanks to the strength of India's underlying principles. In this regard, it was stated that creating a solid foundation for corporate governance in the rapidly expanding startup ecosystem will strengthen India's economic promise.