Rajesh Kumar Singh, Secretary of the Department for Promotion of Industry and Internal Trade (DPIIT), stated that the three-day summit is intended to provide as a forum for communication amongst the different players in the mushrooming ecosystem in the lead-up to Startup Mahakumbh, India’s largest startup event.
According to Singh, who spoke with Inc42, more than 500 startup incubators and accelerators as well as over 1,000 businesses and investors are anticipated at the event. In addition, the two-day event is anticipated to draw at least 40,000 corporate visitors, 5,000 aspiring entrepreneurs, and at least 10 foreign delegations.
“Even though India is home to a sizable startup ecosystem, there has never been a gathering that unites everyone. Our goal with Startup Mahakumbh is to not only highlight India’s startup scene but also to facilitate communication between the different players, which will increase the ecosystem’s vibrancy, Singh continued.
It is important to remember that the nation has roughly 1.2 lakh DPIIT-registered startups.
The event will be divided to accommodate several pavilions in order to promote more interconnected industries. AI and SaaS, agritech, B2B and manufacturing, biotech and pharma, deeptech, climate tech, D2C and consumer facing platforms, gaming and esports, fintech, incubators and accelerators are among the topics that will be the focus of many pavilions.
The goal is to discuss the advancements in technology in each of these fields. The purpose of these pavilions is to encourage interaction and communication between investors, startups, and other industry players. These relationships may eventually result in fruitful partnerships,” he continued.
The Startup Mahakumbh is based on the notion that aspiring young entrepreneurs can get knowledge from people who have established successful large-scale enterprises. In order to facilitate meaningful networking and conversation, it also houses family offices, angel investors, and venture capitalists under one roof.
The Indian Venture and Alternate Capital Association (IVCA), Nasscom, TiE, Bootstrap Incubation & Advisory Foundation, and industry association ASSOCHAM are organizing it.
At the Startup Mahakumbh’s curtain-raiser ceremony, the union government revealed the Bharat Startup Ecosystem Registry, advancing its effort to bring together the many players in the startup ecosystem on a single platform. It’s possible that the register will serve as a unifying factor for the expanding ecosystem.
Singh stated that in addition to providing a single platform database for entrepreneurs, financiers, accelerators, and other participants in the nation’s startup ecosystem, the government will also use the registry to identify and support companies that have the potential to address particular industry-specific issues.
It is possible that the government may seek to ascertain what remedies startups are providing for specific industry issues. These could include helping with bioenergy production, trash management, or turning plant or animal waste into goods with added value. Furthermore, Singh continued, “established corporates can look at that registry and find some interesting ideas that could be useful for their businesses.”
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