Tuesday, May 21, 2024

Startup Mahakumbh: Unfolding Innovation and Deep Tech Commercialization in India’s Largest Startup Festival


Startup Mahakumbh: A Confluence of Innovation and Deep Tech Commercialization

The grand commencement of Startup Mahakumbh, the largest festival celebrating the startup ecosystem in India, took place at Bharat Mandapam. This event marks a cornerstone of three days filled with collaboration, inspiration, and discussions poised to transform the landscape of business and technology. The focus on the commercialization of Deep Tech innovations set a forward-thinking tone from the start.

A collaborative venture, Startup Mahakumbh, brings together the efforts of ASSOCHAM, nasscom, Bootstrap Incubation & Advisory Foundation, TiE, and Indian Venture and Alternate Capital Association (IVCA). Supported by Invest India, the Department for Promotion of Industry and Internal Trade (DPIIT), and the Ministry of Electronics and Information Technology (MeiTY), the event promises to be a showcase of unprecedented innovation, featuring transformative products and business models. The event draws significant backing, with principal presenter Government e Marketplace, and pavilion leads such as Zerodha and NABARD, alongside state support from Bihar, Rajasthan, Karnataka, and Kerala, among others.

The inaugural day was a vibrant exhibition of innovation across ten pavilions, each dedicated to sectors like AI + SaaS, D2C/Consumer brands, Agritech, Fintech, Deep Tech, and more. A significant highlight was the sessions at the nasscom deeptech pavilion, where the discourse revolved around the intellectual property (IP) framework, the promising path for deep tech startups, and novel research funding models aimed at deep science advancements.

Experts like Dr. Vibha Sawhney (Scientist ‘H’ & Head Tech Management Directorate, CSIR, government of India) and Abhi Deshmukh (CEO & CTO, iHub Anubhuti-IITD Foundation) illuminated the discussions. They delved into how India’s IP framework could contribute toward the Viksit Bharat 2047 vision, emphasizing the importance of awareness and support for deeptech startups in increasing patent filings and harnessing government programs effectively.

Furthermore, Lt Gen Anil Kumar Bhatt (Director General, Indian Space Association) shared insights on how deep-tech-based private space companies, with initial funding from ISRO and subsequent VC investments, are performing exemplary work. The discussions underscored the importance of core infrastructure development in aiding the growth of Indian deeptech startups, beyond just funding.

Kritika Murugesan, Senior Director, Deep Tech & Startups, nasscom, commented on the event’s success, highlighting the brimming potential within the Indian deeptech ecosystem and underscoring the conference’s role in fostering a supportive environment for these start-ups to thrive.

The event attracted top unicorns as sponsors and connected Indian startups with an extensive network of event partners, demonstrating the vibrant support system for innovation in India. From tech giants to innovative newcomers, the collaborative spirit of Startup Mahakumbh sets a precedent for future growth in the deep tech sector, symbolizing a step forward towards a new era of technological and business advancements in India.

Alex Sterling
Alex Sterlinghttps://www.businessorbital.com/
Alex Sterling is a seasoned journalist with over a decade of experience covering the dynamic world of business and finance. With a keen eye for detail and a passion for uncovering the stories behind the headlines, Alex has become a respected voice in the industry. Before joining our business blog, Alex reported for major financial news outlets, where they developed a reputation for insightful analysis and compelling storytelling. Alex's work is driven by a commitment to provide readers with the information they need to make informed decisions. Whether it's breaking down complex economic trends or highlighting emerging business opportunities, Alex's writing is accessible, informative, and always engaging.

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