Mentorship, Innovation, Collaboration & PM Modi: Startup Mahakumbh Recap

"Powered by the innovative spirit of our Yuva Shakti, India's startup ecosystem is flourishing at an unprecedented pace…. any Indian visiting the Startup Mahakumbh will witness the unicorns and decacorns of the future," Prime Minister Narendra Modi said addressing the Startup Mahakumbh at Bharat Mandapam. 

The event, designed to foster innovation and entrepreneurship across the nation, attracted leading investors, innovators, and aspiring entrepreneurs.

Record-breaking Participation: Vibrancy of Startup Mahakumbh

The Startup Mahakumbh witnessed record-breaking participation, with over 2000 startups, 1000 investors, 100+ unicorns, and 300+ incubators & accelerators, showcasing the diversity and depth of India's entrepreneurial landscape.

Addressing the gathering, Prime Minister Modi underscored India's commitment to becoming a Viksit Bharat by 2047. He expressed satisfaction over the growth of the startup ecosystem, attributing it to the implementation of the right policies. Noting the transformation in societal attitudes towards startups, he highlighted their pivotal role in driving economic growth and job creation, especially in sectors like agriculture, textiles, medicine, transport, space, yoga, and ayurveda.

PM Modi urged startups to give back to society by supporting individuals and institutions in the sector, encouraging visits to incubation centers, schools, and colleges to share insights with students.

He shared his experiences of involving youth through hackathons, fostering a culture of innovation in governance, and called on businesses and MSMEs to follow suit. He emphasized the contributions of India's youth in elevating the nation to the fifth-largest economy globally and envisioned startups playing a crucial role in achieving the goal of becoming the third-largest economy in the future.

The event featured notable industry leaders and policymakers discussing the critical role startups play in India's economic growth, exploring strategies for fostering creativity and disruption across various sectors like Agritech, AI & SaaS, Climate Tech, and Deep Tech. In conclusion, Prime Minister Modi expressed his optimism for the future, stating that interacting with youngsters fills him with new energy, as he conveyed his best wishes for their endeavors.

“India's Startup world has given many opportunities to our Nari Shakti. Efforts like GeM Portal have gone a long way in encouraging Startups. The Startup Mahakumbh is a part of our several efforts to make India a hub for innovators and upcoming entrepreneurs,” PM Modi said urging the youth to leverage the opportunities in the world of AI, semiconductors and more.

Empowering the Next Generation of Entrepreneurs

A highlight of the event was the 'Future Entrepreneurs Day,' aimed at nurturing the entrepreneurial spirit among students, with close to 3,000 individuals selected from colleges and incubators nationwide. Additionally, thematic pavilions, engaging panel discussions, actionable workshops, mentorship sessions, and networking opportunities enriched the event, equipping attendees with the necessary skills and insights to thrive in the dynamic startup landscape.

Government Support, Mentorship & MeitY Startup Hub

The event facilitated interactions with DPIIT officials, offering valuable insights into government initiatives supporting startups, including funding schemes, mentorship programs, and regulatory reforms. Mentorship sessions provided aspiring founders with guidance from seasoned entrepreneurs and investors, further bolstering the startup ecosystem's resilience and growth trajectory.

One of the flagship engagements of the event was the MeitY Startup Hub (MSH) innovation showcase, where over 40+ ground-breaking startups demonstrated their cutting-edge innovations. Shri Jeej Vijay, CEO of MeitY Startup Hub (MSH), provided valuable insights into venture capital funding for research-backed startups.

Startups will play a pivotal role in making India the 3rd largest global economy. pic.twitter.com/kpcMXXo5cx

— Narendra Modi (@narendramodi) March 20, 2024

The event also featured a Startup Masterclass and an Incubator Masterclass, tailored to provide startups and incubators with invaluable insights and networking opportunities to enhance their growth and success in the dynamic startup ecosystem.

Industry Titans and Policymakers Champion the Cause

Jointly organized by ASSOCHAM, NASSCOM, Bootstrap Incubation & Advisory Foundation, TiE, and Indian Venture and Alternate Capital Association (IVCA), the event garnered support from government bodies including the Department for Promotion of Industry and Internal Trade (DPIIT) and MeitY Startup Hub (MSH). Additionally, it received backing from various states and organizations, further accentuating the collaborative spirit driving India's startup ecosystem.

The event witnessed the active participation of renowned industry leaders, policymakers, and key stakeholders, including representatives from SIDBI, Accel, Info Edge, Sorin Investments, ASSOCHAM, Rukam Capital, Nasscom, and more. Notably, industry titans such as Lenskart, boAt Lifestyle, and Book My Show played pivotal roles in shaping discussions and fostering networking opportunities.