Startup Kumbh: G20-DIA National Roadshow To Be Held Tomorrow

The Ministry of Electronics and Information Technology and Atal Incubation Centre – BIMTECH are going to organise Startup Kumbh: G20-DIA National Roadshow tomorrow to bring together ecosystem enablers like incubators, venture capital firms, angel networks, mentors, experts, state and central government officials, and startup founders to foster networking and provide a macro view of India's thriving startup ecosystem.

Divulging on the event further, Dr. Abha Rishi, CEO, AIC-BIMTECH speaks with Opportunity India and explains the concept and how it will help budding entrepreneurs.   

What is Startup Kumbh and what is the concept of the programme?

Dr. Abha Rishi: Startup Kumbh is an event that celebrates the dynamic startup ecosystems of India, in general and Uttar Pradesh, in particular. Atal Incubation Centre- BIMTECH in collaboration with the Ministry of Electronics Information and Technology (MEITY) under G20 Digital Innovation Alliance (DIA) will be acting as the implementation partner. The objective is to showcase innovative solutions and create an alliance of innovation ecosystem players, including startups, investors, mentors, and institutions who are building digital public goods/innovations for the betterment of economies and the upliftment of societies.

The event is going to be a unique platform for ecosystem enablers, both Indian and international, including incubators, venture capital firms, angel networks, mentors, experts, state and central government officials, and startup founders. Participants will benefit from an opportunity to foster meaningful networking connections and gain a comprehensive understanding of India's thriving startup ecosystem. By bringing together a diverse group of industry experts and stakeholders, Startup Kumbh aims to promote collaboration and innovation in the startup ecosystem where we will celebrate the ingenuity and perseverance of the startup community.

How do you think this will help budding entrepreneurs?

Dr. Abha Rishi: The Startup Kumbh is going to provide a valuable platform for budding entrepreneurs seeking to accelerate their growth and success. This event is well planned to offer a multifaceted approach to support startups in achieving their business objectives. Not only will they get to hear from national stakeholders but they can also listen how they can think about international market access from trade counsellors of different embassies and agencies. The startups will also get an opportunity to showcase their ideas and receive expert guidance and mentoring from experienced industry experts and investors. Entrepreneurs will also have the chance to access crucial funding opportunities, enabling them to secure the financial resources they need to drive their businesses forward.

In addition to funding and mentoring, Startup Kumbh offers startups a unique opportunity for branding and exposure, providing them with a platform to showcase their products or services. This exposure can also lead to potential collaborations and partnerships, enabling startups to expand their resources and capabilities.

The event has a separate session planned with unicorn founders, where participating entrepreneurs can gain valuable insights into what has worked and what hasn't worked while building a successful company. Through this session, startups will have the chance to develop or refine their business models, refine their product offerings, and establish a strong market presence.

Furthermore, the event will provide startups with the opportunity to showcase their products through the stalls provided. This is an excellent chance for startups to attract potential customers, gain valuable feedback, and refine their offerings.

There will be an informative session at the event, what will be the main focus, and what knowledge entrepreneurs take home?

Dr. Abha Rishi: Through the session, entrepreneurs will have the opportunity to gain valuable insights into best practices for starting and growing a business, market trends, and funding opportunities. By leveraging the knowledge and resources provided by Startup Kumbh, entrepreneurs can accelerate their growth and success, driving innovation and economic growth in India’s thriving startup ecosystem.

How will it boost cross-country trade?

Dr. Abha Rishi: Startup Kumbh will boost cross-country trade by offering a platform for startups to exhibit their products and services to a broader audience. Such an opportunity is expected to foster partnerships and collaborations. Furthermore, given the expected presence of representatives from embassies and government officials, the event will serve as an avenue for entrepreneurs to gain insights into international trade policies, thus enhancing their capacity to navigate global trade with greater efficacy.

How will it support innovative ideas?

Dr. Abha Rishi: Startup Kumbh supports innovative ideas by providing startups with access to mentorship, training, and funding opportunities. The programme aims to identify and support startups with disruptive business models and innovative solutions to societal challenges. There will also be an MoU signed between IIT Mandi and AIC-BIMTECH which will deliver a joint programme for deep tech startups.

Are there funding rounds too?

Dr. Abha Rishi: Yes, there are funding rounds available for selected startups. The funding is provided by investors who are interested in supporting early-stage startups with high growth potential.

What is the role of Atal Incubation Centre- BIMTECH in this event and what changes will it bring in the sector?

Dr. Abha Rishi: BIMTECH is playing a crucial role in the Startup Kumbh event by providing its expertise and infrastructure to support the programme. BIMTECH's involvement is to bring changes in the sector, such as the promotion of innovative ideas, the creation of investment opportunities, and the development of a thriving startup ecosystem in Uttar Pradesh.