Prime Minister Narendra Modi addressed entrepreneurs and various stakeholders during the ‘Startup Mahakumbh’ held on Wednesday, (March 20). During his address at Bharat Mandapam in New Delhi, PM highlighted India’s remarkable progress in the realm of startups over the past few years.
During the ‘Startup Mahakumbh’, Prime Minister Narendra Modi emphasised the significance of the event, stating, “As India charts its course towards a developed nation by 2047, this Startup Mahakumbh holds immense importance. Over the past decade, we have witnessed India’s significant contributions to the IT and software sectors. Now, we observe a burgeoning trend of innovation and startup culture in the country, indicating a continuous and promising growth trajectory. Therefore, the presence of all esteemed members of the startup community at this Mahakumbh is highly meaningful.”
Speaking at Startup Mahakumbh. Powered by the innovative spirit of our Yuva Shakti, India’s Startup ecosystem is flourishing at an unprecedented pace.https://t.co/IP4NymH1h8
— Narendra Modi (@narendramodi) March 20, 2024
PM Modi further remarked, “Many launch startups and indeed, in politics too, frequent launches are common. However, the key distinction lies in your experimental approach. If one launch doesn’t succeed, you swiftly move on to the next.”
He also expressed optimism, saying, “Today, the atmosphere is vibrant and energetic. As I strolled through the stalls and witnessed your innovations, I couldn’t help but sense that India’s future is poised to witness numerous Unicorns and Decacorns. India’s timely decisions in nurturing startups have been instrumental in fostering this optimistic outlook. If India has emerged as a beacon of hope and strength in the global startup arena, it is a testament to our well-considered vision and timely actions.”
Key highlights from PM Modi’s speech:
– India has democratised technology, rendering the ‘haves and have-nots’ theory ineffective.
– Women are leading over 45 per cent of Indian startups.
– India boasts more than 125,000 startups, including 110 unicorns.
– The youth of India are increasingly opting to become job creators rather than job seekers, showcasing a shift in mindset within the startup ecosystem.
– The Startup India initiative has provided a platform for innovative ideas and facilitated their connection to funding.
– The interim budget announced a Rs 1 lakh crore fund for research and innovation, which will bolster sunrise sectors.
What is Startup Mahakhumbh 2024
The Startup Mahakhumbh 2024 commenced at Bharat Mandapam in New Delhi on March 18th. According to the Ministry of Electronics and IT, under the resounding theme of ‘Bharat Innovates,’ the event aims to act as a catalyst for fostering innovation, networking, and providing growth opportunities across various sectors.
The convergence of stakeholders and experts is expected to contribute to further developing emerging sectors such as DeepTech, AgriTech, BioTech, MedTech, AI, Gaming, among others, as stated by the Commerce Ministry on Tuesday.
“The event, geared towards nurturing innovation and entrepreneurship across India, has seen an unprecedented level of participation from leading investors, innovators, and aspiring entrepreneurs. With over 2000 startups, 1000+ investors, 100+ unicorns, 300+ incubators & accelerators, 3,000+ conference delegates, 10+ country delegations, 3000+ future entrepreneurs, and 50,000+ business visitors from across the country, the event has facilitated vibrant discussions on the way forward and enabled networking among all stakeholders,” the ministry said.
(With inputs from agencies)
