Prime Minister Narendra Modi attended the “Startup Mahakumbh” event on Wednesday at Bharat Mandapam in New Delhi. The three-day event is organized by the government to boost the startup ecosystem and attract investments in the sector.
PM Modi Encourages Startups at Startup Mahakumbh Event
Prime Minister Narendra Modi highlighted the organizers’ decision to host the “Startup Mahakumbh” event even after the elections were announced, suggesting that this demonstrated foresight and confidence in the future. PM Modi expressed optimism about India’s potential, noting that while exploring the venue and witnessing the innovations on display, he felt positive that India’s future would see many successful unicorns and decacorns.
India has made the right decisions at the right time to support and promote startups. PM Modi mentioned that India has become a beacon of hope and strength in the global startup scene due to a carefully crafted vision. He emphasized that India’s success in the startup space is a result of making timely and strategic decisions.
PM Modi’s Startup Revolution Empowering Youth Across India
Prime Minister Modi praised the government’s ‘Startup India’ initiative, highlighting its role in providing a platform for innovative ideas and connecting them with funding sources. He mentioned the establishment of ‘Tinkering Labs’ and ‘Incubating Labs’ as part of these efforts, which have helped youth from smaller cities incubate their ideas and contribute to the startup ecosystem. PM Modi emphasized that India’s startup landscape is no longer confined to big cities, with youth from smaller towns leading the way in innovation. He noted the diverse sectors in which Indian startups operate, from agriculture to space, highlighting the significant growth in the space sector with over 50 startups.
Highlighting the capability of Indian youth, PM Modi expressed confidence in their potential and the government’s commitment to supporting their aspirations. He mentioned a shift in mindset, where youth are now more inclined towards entrepreneurship than traditional job-seeking, thus contributing to job creation.
PM Modi Highlights UPI’s Role
PM Modi highlighted India’s achievements in the startup sector, mentioning the admiration of global leaders for our UPI during the G20 Summit. He emphasized how UPI has facilitated financial inclusion, bridged the rural-urban gap, and democratized technology use in India. PM Modi also spoke about the transformation in mindset, where youth are now focused on becoming job providers rather than job seekers, marking a significant shift in India’s entrepreneurial landscape.
PM Modi Celebrates Women-Led Startups and Global Recognition
PM Modi highlighted that over 45% of Indian startups are led by women, showcasing their significant role in the startup ecosystem. He mentioned India’s efforts to unite startup ecosystems globally through Startup-20. PM Modi noted the historic inclusion of startups in the Delhi Declaration of G20 at Bharat Mandapam, recognizing them as natural drivers of economic growth.
Top Updates from Startup Mahakumbh
- The Ministry of Commerce & Industries is hosting the Startup Mahakumbh event on March 20 (Wednesday), drawing a significant crowd from 07.00 am to around 09.00 pm.
- The event, themed ‘Bharat Innovates’, aims to catalyze innovation, facilitate networking, and foster growth opportunities for startups, investors, incubators, accelerators, and industry leaders across diverse sectors.
- Over 40 startups showcased their innovations at the event, with more than 2,000 startups, 1,000 investors, 100 unicorns, and 300 incubators and accelerators in attendance.
- MeitY Startup Hub (MSH) hosted a Startup Masterclass providing insights, practical knowledge, and networking opportunities for startups to enhance growth.
- MSH also hosted an Incubator Masterclass covering topics essential for the success of incubators and startups, including fundraising, mentorship, ecosystem building, and incubation best practices.
- The event featured 10 thematic pavilions showcasing phenomena such as Deeptech, AI & SaaS, Fintech, Agritech, Biotech & Pharma, Climate Tech, Gaming & E-Sports, D2C, B2B & Manufacturing, and Incubators.
- DPIIT officials interacted with participants to provide insights into government initiatives supporting startups, including funding schemes and regulatory reforms.
- Mentorship sessions were conducted by seasoned entrepreneurs and investors, offering valuable guidance to aspiring founders at mentorship clinics.
- The Delhi Traffic Police issued an advisory recommending alternative routes to bypass potential traffic congestion around Bharat Mandapam, the event venue.
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