Mumbai, June 27 (IANS) The Institute of Chartered Accountants of India (ICAI) is working to connect startups and MSMEs with investors, bankers and mentors through its ScaleUp India initiative, with the aim of helping entrepreneurs transform innovative ideas into sustainable businesses, CA. Prasanna Kumar D, President, ICAI said on Saturday.

Speaking to IANS on the sidelines of the ICAI ScaleUp India Summit 2026 here, Kumar said many young entrepreneurs have promising business ideas but often lack the guidance and support required to launch and scale their ventures.

“The objective of the summit is to bring together startups, investors, bankers, mentors, incubators and chartered accountants on a common platform so that entrepreneurs receive the right guidance at every stage of their business journey,” he said.

Kumar said the summit received 106 applications from startups seeking funding. After evaluation by an expert panel, 12 startups were shortlisted to present their business models before investors, bankers and mentors.

“If investors find the proposals viable, they can invest in these startups after completing the necessary due diligence, helping them scale their businesses,” he told IANS.

Highlighting the growing innovation ecosystem in the country, Kumar said more than 5,000 startups in India have already secured patents, with several developing products that have the potential to compete in global markets.

“Many Indian startups are built on indigenous innovation. Such innovations can not only strengthen the ‘Make in India’ and ‘Made in India’ initiatives but also boost the country’s exports,” he said.

Meanwhile, ICAI Central Council member CA. Gyan Chandra Misra told IANS that around 3,500 participants attended the two-day summit, which focused on guiding startups and MSMEs on business formation, fundraising, bank financing and government support schemes.

Organised by ICAI’s Committee on MSME and Startup, the summit featured technical sessions and panel discussions on startup innovation, venture capital, cybersecurity, SME IPOs, MSME financing and digital marketplaces, bringing together policymakers, industry leaders, investors and financial institutions.

–IANS

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