India has become the third-largest startup ecosystem in the world after the US and China. During the last 2 years, 65 Indian startups achieved unicorn status, taking the overall tally of startup unicorns in India to 108. Startup India, an initiative of the Government of India, projects a YoY growth of 12-15%.
The 8th edition of India International Science Festival (IISF2022), which will be organised from 21-24 January 2023, at Maulana Azad National Institute of Technology (MANIT), Bhopal, has an exclusive event titled ‘Startup Conclave’. The conclave would have a particular focus on the Biotech Innovation ecosystem championed by the Department of Biotechnology (DBT) and the Biotechnology Industry Research Assistance Council (BIRAC), an Interface Agency, set up by the DBT.
The conclave will showcase the outcomes of the largest funding schemes in the biotech sector, namely, the Biotech Ignition Grant (BIG) for entrepreneurs and startups and the BioNEST scheme for bio-incubation centres that have completed ten years and have made an immense contribution.
The four major elements of the Conclave include an exhibition of innovative products and technologies by startups in various fields; exhibits by Incubators offering enabling services and shared infrastructure; focused discussions on startup challenges and opportunities; and guidance on availing enabling opportunities under Startup India mission.
Discussions and communications among the Startups during the event are expected to strengthen and empower the emerging startup ecosystem of India. The event would offer an opportunity to meet people who are part of the startup community in various forms, be it the innovators, the implementing authorities, or researchers supporting the innovations. The event would offer excellent opportunities to learn, understand, and engage with ‘science-led’ Startups and supporting enablers, especially the Incubation centres.
India has entered the Amrit Kaal, when, in the coming 25 years, it will be a nation having nearly 60% of its population young and active. Fostering the spirit of innovation and entrepreneurship in our youth will help develop the Atmanirbhar Bharat. The young minds should be encouraged to look for affordable innovations to tackle a wide range of social issues. With effective diffusion of the innovations, startup products and services can be replicated in various places, promoting a holistic growth, especially for the rural regions.
For startups and entrepreneurs, it is imperative to ensure the global competitiveness of their products and services. Union Minister of State Science & Technology and Ministry of Earth Sciences (Ind. Charges), Minister of State PMO, PP/DoPT, Atomic Energy, and Space, Dr. Jitendra Singh, while addressing the Centre-State Science Conclave, held at the Science City in Ahmedabad in September 2022, said, “Integration of research, startups, academia, and industry is no longer an option but a dire necessity to attract young innovators in the country, particularly in the states to come out with cutting-edge and globally competitive products and solutions.”
A platform like IISF will be the right place to learn tricks of the trade from the experts.