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McKinsey launches new `fast' track

Our Bureau

MUMBAI, Nov. 22

LEADING management consultancy, McKinsey & Company, today announced the formal launch of `Accelerator' - a service line to speed up the process of building businesses in the new economy - in India.

The initiative will be headed by senior consultants in Delhi and Mumbai, with the latter location additionally hosting premises where companies can develop their new ventures.

Mumbai's is the 25th such facility worldwide for McKinsey.

Notwithstanding the reference to new economy businesses, the consultancy expects to nurture all types of enterprise with a greater share of clientele anticipated from traditional companies making new economy forays, Mr Ramesh Venkataraman, Principal, McK insey & Company Inc, said at a press briefing here on Wednesday.

The `Accelerator' service, seeking to take the pressure off companies aiming to come up fast in the new environment, has three service lines - opportunity scoping which focusses on identifying and validating new business ideas, launch wherein a fully fun ctional business is taken to the market and acceleration, where the ramp-up is managed.

As abroad, here too the consultancy has tied up with several service providers offering inputs ranging from advertising and venture capital to logistics support, all among the typical needs of a new business.

The client can pick and choose from this basket of collaborators. Similarly, the client can choose if he wants to physically locate at the `Accelerator' centre or operate from far.

Getting off the guidance stage and running on one's own feet, varies with the nature of business and its pace of maturing.

Though there are exceptions, McKinsey usually maintains a fee-based relation with the client. Mr Venkataraman conceded, when the expected high share of established companies in the client's list was pointed out, that there is a cost attached to McKinsey' s service which may not endear the `Accelerator' to every start-up.

Pic.: (From left) Mr Ranjit Pandit, Managing Director-India, and Mr Ramesh Venkataraman, Principal, McKinsey & Co Inc, at a press conference in Mumbai on Wednesday.

Picture by Shashi Ashiwal