The government of India, in association with US Agency for International Development (USAID) industry lobby Federation of Indian Chambers of Commerce and Industry (FICCI) have launched a joint initiative under “Millennium Alliance” to promote innovation in India and other parts of the world. The “Millennium Alliance” will function in the public-private-partnership mode.
US Ambassador to India Nancy J. Powell said, “The Millennium Alliance will leverage Indian creativity, expertise, and resources to support and scale innovative solutions to development problems that will benefit populations across India and the world. The progress both our nations have made in the last six decades is a testament to our strong partnership. We hope to add a new chapter to that partnership, as we work together to confront some of the greatest development challenges of our time. The Alliance will provide innovators with essential resources such as seed funding, business incubation services, networking opportunities, and technical assistance, and will facilitate their access to equity, debt, and other capital.”
