India Startup Festival 2023 a Grand Success

The Indian Start-up Festival which was organized by the India Start-up Foundation, for the growth and development of the Indian Start-Up ecosystem was a huge success. The closing ceremony was attended by Sri. N. S. Bosseraju, Hon’ble Minister for Science & Technology, and Minor Irrigation Government of Karnataka, along with Sadguru Sri Madhusudan, Founder of Sathya Sai University for Human Excellence, Karnataka in the presence of Sri. J. A. Chowdary, Key Architect, Indian Tech Industry Chairperson & Convenor, India Startup Festival along with Dr. Siva Mahesh Tangutooru, Deenanath Harapanahalli, and Achyut Yerragangu Co-Founders of India Startup Foundation and other dignitaries along with a large number of industry leaders, CXO’s, investors, start-up founders, etc. 

Sri. N. S. Bosseraju, Minister for Science & Technology, and Minor Irrigation Government of Karnataka congratulated the organizers for hosting India Start-up Festival 2023 in the state, an event that holds the key to unlocking the true potential of the nation’s entrepreneurial spirit. He informed the gathering that the mission of ISF is to reimagine the start-up revolution and empower entrepreneurs, which aligns with the vision of the Government of Karnataka to make every effort to promote and build a Business-Friendly, Science, and technology friendly, Start-up Friendly, progressive, and prosperous Karnataka.

He also outlined the Government’s focus on 4E, Education to cultivate scientific temper, creating an enabling business environment to generate employment, thereby building a robust economy that constantly adapts to the demands and opportunities of the new generation, within the larger framework of Ecological Sustainability. He also announced that the government would soon set up the Karnataka State Research Foundation (KSRF) to gradually increase R&D spending to 3% of the state’s GDP, which will offer great opportunities for innovation and research in the state. He assured the startup community that the Government of Karnataka is committed to supporting entrepreneurs to help build a more sustainable economy. 

More than 30 industry leaders from various domains addressed the start-up community through several roundtables and keynote addresses. Besides discussing the domain-specific challenges they encouraged the start-ups to work towards finding solutions to real problems at the bottom of the Pyramid. The rural economy in India has a potential of US$ 1 Trillion. The start-up community can benefit hugely by providing targeted solutions to the unique requirements at the bottom of the pyramid. This could be a great opportunity for the start-up community. The start-ups were also cautioned to focus on building value for the stakeholders to build sustainable businesses.

The top ten start-ups at ISF 2023 were: Arakruthu 3d Private Limited, Hiringhood, Rennaissance Superfoods, Game On, Brewed Games, Endimensions, Metabrix, Flying Duck, Medyseva and ICATTT won the cash prize, and will also be mentored by sector-specific industry leaders. To encourage the next generation of innovators, ISF offered a platform to 600 Students between the age group of 14 – 21 to present their innovative ideas as a part of the Junicons contest. 10 promising ideas were recognized and won the cash prize. These Junicons will be mentored by the India Start-up Foundation. The panels discussed on various topics for sustainable and profitable growth in the start-up ecosystem. The young and budding start-up owners got an opportunity to interact and clarify their doubts with the CXOs and other industry leaders. 

During the event, to scale up the start-up ecosystem and to have a positive impact on the economy eleven MoUs were signed between ISF and other leading companies and investors around the world (Wheels Foundation, Bart Foundation, USA, Software Technology Parks of India (STPI), London Chamber of Commerce & Industry (LCCI), Netherlands India Chamber of Commerce and Trade (NICCT), World Start-ups, Netherlands, Link Innovations, France, Swissnes, Consulate General of Switzerland, London and Partners, UK, Business Finland, Finnish Ministry of Employment and the Economy, Indo German Chamber of Commerce and Nanban Foundation). 

Speaking about the ISF 2023, Sri. J A. Chowdary, Key Architect, Indian Tech Industry Chairperson & Convenor, India Start-up Festival said,” We are delighted at the response to ISF 2023. This event has set a new record with 125 term sheets being pledged by 30 investors. This will be a major boost to the start-up ecosystem in the country. We have also signed MoUs with various global institutions to provide start-ups with mentoring and global market access. ISF 2023 has helped build a more robust ecosystem and brought the focus on the opportunities for innovation at the bottom of the Pyramid. The ISF festival theme will be based on the rural sector for the next 5 years.”

The lifetime achievement awards given to eight notable personalities including Mr. Sivakumar Surampudi., Group Head, Agri & IT Businesses of ITC Limited, Dr. D. Nageshwar Reddy, Chairman & Chief of Gastroenterology, Asian Institute of Gastroenterology & AIG Hospitals, Mr. Lalit Ahuja, Founder & CEO, ANSR Inc, Mr. Vineet Rai, Founder & Chairman, Aavishkaar Group, Dr. Galla Ramachandra Naidu, Founder Chairman, Amara Raja Group, Dr. P. Raja Mohan Rao, Chairman, United Telecoms Group, Dr. Kazuhiro Chiba, President, Tokyo University of Agriculture and Technology, Mr. Atluri, Managing Director, Global Head of Enterprise Quality Engineering, BNY Mellon for their innovation and contribution to the country. 

Karena Belin, Founder, and co-founder, of WHub & Angel Hub, invited ISF to participate in the Hong Kong Fintech Fest 2023 which is happening in November.