PM Modi Spotlights India's Startup Power at Mahakumbh

Addressing the 'Startup Mahakumbh' at Bharat Mandapam, Prime Minister Narendra Modi underscored India's ascendancy in the global startup arena. 

He remarked, "India is the world's 3rd largest startup ecosystem. There are over 1.25 lakh registered startups which generate employment for over 12 lakh people. India has over 110 unicorns... Our startups have registered over 12,000 patents. I request all of you to get your patent as early as possible."

Prime Minister Modi highlighted the presence of startups across diverse sectors, ranging from agriculture to space. He emphasized the transformation in the mindset of the youth, from job-seekers to job-providers, symbolizing a significant shift in India's entrepreneurial landscape.

He said, "Today, India has startups across sectors. From agriculture to space, we can find Indian startups everywhere. The space sector now has over 50 startups. The world sees the capability of Indian youth. Trusting their capabilities, we decided to fuel their aspirations... We have transformed people's thinking; instead of being a job-seeker, the youth is now keen on becoming a job-provider..."

 "...'Startup India' initiative provided a platform for innovative ideas, connected those to funding sources, and began 'Tinkering Labs' and 'Incubating Labs'. All such efforts helped the youth from tier 2 and tier 3 cities to incubate their ideas.  Today, we can proudly say that our startup ecosystem is not limited to megacities. In fact, youth from small cities are pioneering the revolution in the startup ecosystem...,", PM Modi added.

I urge the youth to leverage the opportunities in the world of AI, semiconductors and more. pic.twitter.com/pvNV8o10Ad

— Narendra Modi (@narendramodi) March 20, 2024

This inclusive approach has democratized the startup ecosystem, enabling participation from budding entrepreneurs across the country, PM Modi asserted.

Record-Breaking Participation at Startup Mahakumbh

The Startup Mahakumbh, heralded as India's largest and first-of-its-kind startup event, witnessed unprecedented enthusiasm from stakeholders and experts. With a focus on burgeoning sectors such as DeepTech, AgriTech, BioTech, MedTech, AI, and Gaming, the event served as a vibrant platform for fostering innovation and entrepreneurship nationwide.

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.

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.

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.

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