India-Sweden Agreed to Create Innovation Partnership

India and Sweden joined hands in pioneering seed money to support start-ups in some sectors, said by Swedish Ambassador to India Klas Molin. Molin told that they are working in designing the partnership innovation between Sweden and India, with hopes to process and finalize firm flagship programmes. They originally planned to have some seed money from the private sector and the government intended to financed newly established businesses among certain sectors.

The Ambassador further mentioned that negotiations were ongoing and expected that the alliance will form a solid structure in the next few weeks. As they explore various opportunities to use seed money on relevant programs and other sources, with plans to conduct high-level visits. According to him, Swedish companies are inclined to opportunities from the (renewable) sustainable transportation industry. He claimed that Sweden has a very good transportation sector, which in fact, municipal buses in Stockholm and in other Swedish cities run using bio-gas made from wastes.