SUMMARY
DPIIT joint secretary Sanjiv said it is necessary to incubate and support startups and businesses in manufacturing, deeptech sectors, gaming and esports
Pavilions for AI and SaaS, agritech, manufacturing, biotech and pharma will be a key part of the experience at Startup Mahakumbh
Through the event, startups in the manufacturing space will get the required guidance, mentorship, and access to large labs and facilities, said Sanjiv
The upcoming Startup Mahakumbh will bring the spotlight to less prominent sectors such as manufacturing and deeptech which need the biggest push from the startup ecosystem, believes Department for Promotion of Industry and Internal Trade (DPIIT) joint secretary Sanjiv.
The Startup Mahakumbh, being held from March 18-20, 2024 in Delhi, is expected to host over 1,000 startups and investors each and over 500 startup incubators and accelerators. Besides, at least 40,000 business visitors, 5,000 future entrepreneurs as well as at least 10 international delegations are expected to partake in the two day event.
To foster more connected sectors, the event will be segregated to host multiple pavilions. Different pavilions will focus on AI and SaaS, agritech, B2B and manufacturing, biotech and pharma, deeptech, climate tech, D2C and consumer facing platforms, gaming and esports, fintech, incubators and accelerators.
DPIIT’s Sanjiv believes while many of these pavilions focus on prominent sectors such as fintech or ecommerce, it is necessary to incubate and support startups and businesses in manufacturing, deeptech sectors, gaming and esports.
Sanjiv added that currently while India has manufacturing startups and incubators, their number has not grown fast enough. While large players exist in the manufacturing, startups find it hard to break through. “With the Startup Mahakumbh, our thrust will be on manufacturing incubators as well as companies working in the manufacturing sector. We are providing a stage for manufacturing companies to launch more incubators and accelerate innovation in the sector.”
The DPIIT JS believes that the Startup Mahakumbh will provide more funding opportunities to manufacturing startups over the next few months thanks to the exposure to hundreds of investors and large conglomerates. “But more importantly what is required is more guidance, mentorship, and giving startups access to large labs and facilities. Companies can engage with the startups in the pavilions to discuss marketing and go-to-market strategies.”
Sanjiv told Inc42 that DPIIT has taken a leaf out of the incubation and acceleration efforts by Silicon Valley tech giants who have not only allowed experiments but also supported smaller tech startups with funding and acquisition.
“We have seen in the West that if any new technology becomes successful, it is due to the support of existing giants such as Google, Apple or Amazon. We need the same approach in the manufacturing sector and we are hoping that the Startup Mahakumbh will provide the platform for startups and corporates to engage with each other,” he said.
Besides the Startup Mahakumbh, the DPIIT is also looking to launch the Bharat Startup Ecosystem Registry soon, which Sanjiv believes can bring together the disparate parts of the startup ecosystem, including shining a light on hitherto unknown startups .
While the registry will serve as a single platform database for startups, investors, incubators, and other stakeholders in the country’s startup ecosystem, it would allow startups to see which specific sectors or states they can target from a go-to-market point of view. The DPIIT joint secretary says the objective is to make the data searchable so that the registry can be beneficial for startups as a whole.
“Till now, the government was not maintaining such a database publicly. With the registry, aspiring startups can find out the right way to build a startup, the dos and don’ts from a corporate governance point of view and see which states are best suited for their sector. Each state has different startup policies, so startups can go for the option that offers them maximum benefit,” Sanjiv added.
