Business News | Incubators Pavilion Hosts Thought Provoking Discussions During the Second Day of Startup Mahakumbh

BusinessWire India

New Delhi [India], March 20: The second day of Startup Mahakumbh, India's first-of-its-kind celebration of the startup ecosystem, drew to a close today at Bharat Mandapam. This landmark event has successfully fostered an environment brimming with collaboration, inspiration, and thought-provoking discussions among all stakeholders within the ecosystem. With the stage set, the remaining day promises to be even more transformative and constructive for India's entrepreneurial spirit. The event spearheaded by the collaborative efforts of ASSOCHAM, nasscom, Bootstrap Incubation & Advisory Foundation, TiE, and Indian Venture and Alternate Capital Association (IVCA) and supported by Invest India, Department for Promotion of Industry and Internal Trade (DPIIT), and Ministry of Electronics and Information Technology (MeiTY). Startup Mahakumbh promises a showcase of unparalleled innovation, highlighting transformative products and revolutionary business models by its key presenter Government e Marketplace, pavilion leads including Zerodha and National Bank For Agriculture And Rural Development (NABARD), and support from states including Bihar, Rajasthan, Karnataka and Kerala. Powered by Small Industries Development Bank of India (SIDBI), Zomato and Export Credit Guarantee Corporation of India (ECGC), Startup Mahakumbh also has the state of Uttar Pradesh as state partner for the event. Day two at the Incubators Pavilion witnessed a collaborative session on "Enabling Student Entrepreneurship at Universities" chaired by Dipan Sahu, Asst. Innovation Director, Ministry of Education's Innovation Cell & AICTE, Govt. of India, Poyni Bhatt, Former CEO of SINE-IITB, and Lead Incubator/Accelerator Track and Suresh Narasimha, Managing Partner Co-Create Ventures, and Co-lead, Incubator/Accelerator Track where renowned stakeholders across the education system highlighted the importance of education for young India and championed the growth of the entrepreneurial ecosystem of Bharat. During the session Dipan Sahu, Asst. Innovation Director, Ministry of Education's Innovation Cell & AICTE, Govt. of India, stated, "We have over 17 members representing 17 diverse cities, each bringing unique perspectives from various institutions. As we gather around the roundtable, our primary objective is to foster inter-institutional partnerships and promote convergence. We aim to devise policies that unleash the potential of our youth, bridging the gap in problem-solving capabilities and preparing them to confront challenges head-on. By recognizing both the challenges and opportunities, we endeavor to guide them towards the path of innovation and entrepreneurship." Janesh Kain (IFS), Adviser, SCO Secretariat, Beijing stated, "I am deeply impressed by the implementation of Startup Mahakumbh and happy to witness a keen interest in higher education as without it we cannot fulfill the vision of 'Viksit Bharat'. A collaborative environment like this has progressed the vision catapulting India into becoming a powerhouse of growth and entrepreneurship." "Our objective is to understand and identify the challenges in achieving our vision and what we can learn from each other in enabling student entrepreneurs at universities. These discussions will be integrated into a paper and submitted at the higher level to promote and enable the future of entrepreneurship in India," said, Suresh Narasimha, Managing Partner Co-Create Ventures, and Co-lead, Incubator/Accelerator Track. The session was followed by an elaborative discussion on the "Roles of Corporates for Incubation and Start-up Ecosystem: CSR & Innovation Programs" which delved into the significance of incubators as hubs of excellence and emphasized the importance of bolstering incubation centers that tackle intricate challenges throughout India. A detailed session on "Enabling States and Enriching Capacity" was also hosted at the pavilion where the panel highlighted the significance of establishing incubator networks, which not only assist startups in finding their footing but also aid in their global expansion efforts and beyond. During the session, Y K Pathak, Addl. CEO and Chief Buyer Officer-States, GeM stated that "by prioritizing startups, we aim to create a more uniform market landscape and eliminate regional disparities." "Nurturing a culture of entrepreneurship in India's youth is crucial. We need to empower young minds, especially in Tier 2 and Tier 3 cities, because that's where immense potential lies - it's where the action is! By focusing on skill development in these regions, we can fuel innovation, the lifeblood of a thriving startup ecosystem," said Karthik Kittu, Chief of Staff to Chairman, Startup Karnataka. Furthermore, day two also hosted an insightful masterclass on "Operationalizing Incubation" where Supriya Sharma, Partner- Insights, IIMA Ventures highlighted the challenges witnessed by the incubators in their operations and actively interacted with budding incubators addressing their queries on productization.

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Startup Mahakumbh onboards top unicorns in the sponsors list, with Games 24X7, Oyo, and Info Edge as Unicorn Gold sponsors, Dream11, Flipkart, Infra Market, Moglix, Nykaa as Unicorn Silver sponsors, BharatPe and Razorpay as Unicorn Bronze sponsors. The list of AIF sponsors includes Accel, Rukam Capital and Peak XV in the gold category, Aavishkar Group, Elevation Capital, Iron Pillar in the silver sponsorship category and Avendus Capital, Chiratae Ventures, Fireside Ventures, IvyCap Ventures and Sorin Investments in the bronze category of AIF sponsors. The event will also connect Indian startups with event partners including Dalmia Bharat & Google (silver partners), Acko, Captain Fresh, Mobile Premier League (MPL), Jetsynthesis, Tally (bronze partners), IAN & Blume Ventures (session partners), IDFC First Bank (Bank partner), MM Active & India Mobile Congress (IMC) (Event partners) and Indian School of Business (ISB) (Academic partner).

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