The Institute of Chartered Accountants of India (ICAI) is facilitating connections between startups, MSMEs, investors, bankers, and mentors through its ScaleUp India initiative. CA. Prasanna Kumar D, President of ICAI, mentioned that the goal is to assist entrepreneurs in turning innovative ideas into sustainable businesses. At the ICAI ScaleUp India Summit 2026 in Mumbai, Kumar emphasized the need for guidance and support for young entrepreneurs to launch and scale their ventures effectively.
The summit attracted 106 startup applications seeking funding, out of which 12 were shortlisted to present their business models to potential investors, bankers, and mentors. Kumar explained that if investors find these proposals feasible after due diligence, they can invest in the startups to help them expand their operations. This initiative aims to provide the necessary guidance to entrepreneurs at every stage of their business journey.
Highlighting the innovation landscape in India, Kumar pointed out that over 5,000 startups in the country have secured patents, indicating a robust ecosystem for innovative products. He emphasized that many Indian startups are based on indigenous innovation, which not only supports initiatives like ‘Make in India’ and ‘Made in India’ but also enhances the country’s export potential.
ICAI Central Council member CA. Gyan Chandra Misra shared that the summit, attended by around 3,500 participants, focused on guiding startups and MSMEs on various aspects like business formation, fundraising, bank financing, and government support schemes. The event, organized by ICAI’s Committee on MSME and Startup, included technical sessions and panel discussions on topics such as startup innovation, venture capital, cybersecurity, SME IPOs, MSME financing, and digital marketplaces, bringing together policymakers, industry leaders, investors, and financial institutions.
