The three-day Startup Mahakumbh, inaugurated by Commerce and Industry Minister Piyush Goyal, is set to bring together 3,000 startups, over 1,000 investors, and 10,000 delegates from 50 countries. With a focus on fostering collaboration and innovation, this event will lay the groundwork for the future success of entrepreneurs. The second edition, set to take place in 2025, will feature participation from tribal entrepreneurs and showcase the growth of the Indian startup ecosystem.
Indian Prime Minister Narendra Modi will be addressing 'Startup Mahakumbh' today, a platform that brings together startups, innovators, and emerging entrepreneurs. In a tweet, PM Modi expressed pride in India's rapid progress in the world of startups and announced his upcoming address. This event is expected to bring together stakeholders and promote discussion and growth in the startup sector.
Minister Piyush Goyal, while speaking at the Startup Mahakumbh in New Delhi, expressed his support for the Indian coffee brand Hatti Kaapi and its goal to go global and compete with international giants like Starbucks. With its traditional filter coffee and light food offerings, Hatti Kaapi has already seen considerable growth and success since its founding in Bengaluru in 2009, with over 110 outlets and worldwide shipping of its products. Minister Goyal's endorsement and pledge of government support for this homegrown brand is a promising sign for the Indian coffee industry.
At the 'Viksit Bharat Startup Mahakumbh 2024' event in New Delhi, BJP Mumbai Pradesh Vice President Hitesh Jain expressed confidence in India's startup ecosystem, stating that the country is expected to have 10-15 lakh startups and 500 unicorns, creating thousands of jobs for the youth. This aligns with Prime Minister Modi's vision for a developed nation by 2047, with startups playing a crucial role in the economy. The event, attended by over 40,000 business visitors, aims to foster growth opportunities and networking among startups, investors, and industry leaders. The government's efforts with a startup-friendly policy are also expected to catalyze innovation and ease of doing business for young entrepreneurs.
The Indian government, led by Secretary of Commerce Ministry's Department for Promotion of Industry and Internal Trade, RK Singh, is finalizing a policy for start-ups in the deep tech space to spur disruptive changes and innovation. The announcement was made at the Startup Mahakumbh event, which aims to unite thousands of start-ups and investors in advanced technologies. With the goal of improving India's global ranking on innovation, the government also plans to launch a new scheme to strengthen deep-tech capabilities in the defence sector. This comes at a crucial time as Indian start-ups face challenges with a decline in funding and CAGR growth.