Gangtok, Nov 27
AIC-SMUTBI, Sikkim and Mainstage Incubator (haftungsbeschränkt) from Frankfurt, Germany has signed a Memorandum of Understanding (MoU) on 25th November to enter into a strategic partnership and enable the startups of this region to gain smoother access to the European Market.
Mr. Swen Wegner, Founder, and CEO on behalf of Mainstage Incubator visited Sikkim to inked the pact with AIC-SMUTBI represented by Dr. Tej Chingtham, CEO of AIC-SMUTBI.
The MOU will enable startups from North East India and the Rest of the country, to land into the European Market in two stages viz, Soft landing (Virtual Landing) and Hard Landing.
Soft Landing will enable start-ups to test their prototypes or product in Europe Market via AIC-SMUTBI’s partner incubator in Germany. On its part the Mainstage incubator will facilitate all the regulatory compliances, certification, legal requirements etc which are mandatory for entry into European Union. A total of approximately 10 men-hour of mentoring will be provided to start-ups by their pool of mentors from the European Union for the product-market fit. This will prepare the start-ups to scale globally.
In the second stage of hard landing, the Mainstage incubator will provide a free office space and three months of accommodation in Frankfurt for the start-ups to have their physical presence in Germany. It will also support to register an entity in Germany if necessary.
The intention of the MOU is to reduce the overall cost of launching a product from North East India to the European Union market and help the start-ups focus on scaling beyond the boundaries of the region/country.
Apart from these assistances, Mainstage will also provide all the start-ups with valuable Industry Connects, mentorship, and access to investors from the European Union.
A session on “How to pitch to European Customers” was conducted by Mr Swen, followed by a one-on-one session with all the start-ups/entrepreneurs present and suggested on how their products can be prepared for the global market.