A confluence of hope and diversity will be seen in Startup Mahakumbh, 50 thousand businessmen from 23 countries can participate. – StartUp News

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Startup Mahakumbh 2024: Bharat Mandapam at Pragati Maidan in the national capital is going to host the Mahakumbh of startup companies. These Indian companies will make headlines across the world during the three-day Startup Mahakumbh starting from Monday.

Ranjan Anand, Managing Director of Peak 15 (Peak XV) said, ‘India is innovating in every field today and is also bringing innovation to the world. We have crossed the tipping point and India has already become the country with the third largest startup ecosystem in the world. Now the time has come for us to show our potential to the world.

This program is taking place at a time when there is hope that the investment drought will end for the startup sector. The investment in Indian startups in 2023 has declined by 72 percent to the lowest in 7 years. According to data from market intelligence platform Traxon, startups received only $ 7 billion investment during this period, whereas in 2022 there was investment of $ 25 billion.

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Rajesh Kumar Singh, Secretary, DPIIT Department, Ministry of Commerce and Industry, said, ‘Today India is among the leading countries in the world in terms of startup ecosystem. India ranks 40th in the world in terms of innovation and our aim is to move ahead of this. Our aim is to make Startup Mahakumbh not only a big event but also an annual event, which can accelerate the growth of the Indian startup ecosystem.

Over 1,000 startups and investors, including 50 unicorns and 500 incubators, are expected to participate in the program. 5,000 delegations from 23 countries and 50,000 business visitors can also participate in this Mahakumbh.

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Sanjay Nair, member of the organizing committee and former CEO of KKR India, said, ‘This event will show the world that the Indian startup ecosystem has matured. It is also giving startups an opportunity to connect with investors.

The main theme of the event is ‘Bharat Innovates’ and it will feature events like mentorship clinics, pitch competitions and a multi-track which will include leadership talks, panel discussions, workshops and activities by startups as well as future entrepreneurs. Will meet.

Anandan said, ‘It will be an exciting moment for everyone to come together for this initiative to showcase the Indian startup ecosystem in a rich and vibrant way.’

Nair said that not only startups from metropolitan cities will participate in it, but many startups from small and medium cities and districts across the country will also participate in it. He said that this is a comprehensive platform in which startups are getting a chance to showcase their potential.

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Led by industry organizations ASSOCHAM, NASSCOM, Bootstrap Incubation and Advisory Foundation, TiE and Indian Venture and Alternative Capital Association, the event will showcase the diversity of the Indian startup ecosystem.

“The regional diversity that we are trying to showcase is an important aspect of the Indian startup ecosystem,” said Prashant Prakash, partner at Essel.

Ranjan Navani, Founder and CEO of LateSynthesis, said that the video gaming market in India is growing unexpectedly. This will get further boost from a platform like Startup Mahakumbh.

First Published – March 17, 2024 | 9:19 PM IST

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