By James Mathew
With more than 14,000 recognised start-ups, India has the third largest start-up ecosystem globally
More than 150 global fund managers and entrepreneurs from several counties including UAE, Australia, China, Hong Kong, Japan, Singapore and the United States are expected to attend the annual Startup India Venture Capital Summit in Goa, to be held on Friday.
The event, which brings together government officials, senior executives from international funds and entrepreneurs from India and various other countries, is aimed at showcasing the Indian start-up opportunity for funds from around the world.
The theme of the summit is ‘Mobilising Global Capital for Innovation in India.’
The start-up summit, joint organised by India’s Department of Policy and Promotion (DIPP) and Government of Goa, is expected to focus on the huge return-generating potential of India’s vast and diverse market monetised through cutting-edge technologies and supported by investor-friendly regulations.
“The key objectives of the Summit will be to showcase the India opportunity, increase capital flow for Indian start-ups and further promote ease of doing business,” an official statement on the event said.
International Finance Corporation (IFC), a sister organisation of the World Bank Group, and the Indian Private Equity and Venture Capital Association (IVCA) are partners for this initiative.
IFC has worked with more than 2,000 businesses worldwide and will help attract global and Indian investors to the summit. IVCA, one of India's most influential private equity venture capital, will also help attract relevant industry professionals to the event.
Aiming to create a niche for itself in this bustling space, the Goa government has its sigh set on becoming one of the most preferred start-up destinations in India and making it to the list of top 25 start-up destinations in Asia, by 2025.
With more than 14,000 recognised start-ups, India has the third largest start-up ecosystem globally.
The registration of another 8,200 start-ups this year with the DIPP has generated employment of more than 89,000, taking the total count of job creation in India by the start-ups to 1.41 lakh (0.14 million), the statement said.