Startup Mahakumbh: Prime Minister Modi’s Address to Entrepreneurs and Innovators

Business View
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Prime Minister Narendra Modi addressed entrepreneurs and innovators at the Startup Mahakumbh on March 20, at 10:30 a.m. at the Bharat Mandapam, New Delhi. The three-day event went on air on 18th March and is having its concluding day today. This event has been an initiative of the government to energize the country’s startup sector and attract new investors and investments towards it. Startup Mahakumbh was organized by collaborating industry organizations such as Bootstrap Incubation and Advisory Foundation and the Indian Venture and Alternate Capital Association (IVCA), along with the Department for Promotion of Industry and Internal Trade (DPIIT).

Focussing on strengthening the startups of India, Startup Mahakumbh recorded amazing and unexpected participation from individuals worldwide who showed interest in the event. This is a forum aimed at inviting stakeholders from the realm of innovators, startups, and upcoming entrepreneurs. The startup division has presented tremendous growth in the last few years.

The event had more than 40 startups who displayed their innovations and over 2000 startups, 1000 investors, and 300 incubators attended the Startup Mahakumbh, a report from the Ministry of Commerce and Industry stated. The three-day-long event presented networking opportunities for new and upcoming entrepreneurs and bring forward innovation in startups. Ten significant areas in which it dealt were Deeptech, AI and SaaS, Fintech, Agritech, Biotech and Pharma, Climate Tech, Gaming and E-Sports, D2C, B2B and Manufacturing, and Incubators.

As part of Startup Mahakumbh, a Startup Masterclass was also organized that educated startups about the scenario of the sector, practical knowledge, and upskill individuals about networking opportunities and potential success in the evolving startups landscape. Topics also included fundraising and investment trends, knowledge sharing, formulating effective strategies, and essential practices; topics which are crucial to understand in the sector.

There were also thoughtful discussions conducted by several industry experts to understand the future of Indian startups and their contribution to promoting the economic growth of the country. Officials from DPIIT also shed light on the different government initiatives backing startups which include providing sufficient funds, educational initiatives, and reforms being made for them. 

A traffic advisory was also issued by Delhi Traffic Police, advising people to take alternative routes to avoid congestion in and around the Bharat Mandapam area.

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Here’s what PM Modi said during his speech on the last day of Startup Mahakumbh

1. During the speech, PM Modi announced the allocation of Rs. 1 lakh crore funds towards research and innovation in the interim budget, further adding that this allocation will help sunrise sectors.

2. The government commenced its working on startups when the term wasn’t of much significance to the people of the country.

3. The nation holds more than 1,25 lakh startups and 110 unicorns.

4. He also talked about how Indian youth, through its innovative prowess, has grown to be a job creator rather than merely being a job-seeking population.

5. Women’s contribution to startups has also been phenomenal. More than 45% of the female population leads Indian startups.

6. “Through Startup India mission, the government has given a platform to innovative ideas, connected them to funding channels, established incubators in educational institutions,” Narendra Modi while addressing startups and investors at Startup Mahakumbh at Bharat Mandapam, New Delhi.

7. India has made an identity for itself in the past few decades in the IT services and software sector.

8. At this point and scale, the Startup Mahakumbh holds significance, especially when India looks forward to its development roadmap of 2047.

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