DPIIT’s Focus on Manufacturing and Deeptech
Department for Promotion of Industry and Internal Trade (DPIIT) joint secretary Sanjiv believes that the upcoming Startup Mahakumbh, scheduled from March 18-20, 2024, in Delhi, will shine a light on less prominent sectors like manufacturing and deeptech, which are crucial for the startup ecosystem’s growth.
Expectations and Highlights of Startup Mahakumbh
The event is expected to host over 1,000 startups and investors, along with 500 startup incubators and accelerators. With approximately 40,000 business visitors, 5,000 future entrepreneurs, and 10 international delegations, the two-day event aims to foster connections and collaboration across various sectors.
Focus Pavilions for Enhanced Networking
To facilitate more targeted networking, the event will feature different pavilions focusing 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.
Importance of Supporting Manufacturing Startups
While acknowledging the presence of manufacturing startups and incubators in India, Sanjiv emphasized the need for their accelerated growth. He highlighted the challenges faced by startups in breaking through the manufacturing sector and expressed hopes that the Startup Mahakumbh would provide a platform for launching more incubators and driving innovation in the sector.
Opportunities for Funding and Collaboration
Sanjiv anticipates increased funding opportunities for manufacturing startups post the Startup Mahakumbh, thanks to the exposure to numerous investors and large corporations. He emphasized the importance of mentorship, guidance, and access to facilities for startups, enabling them to engage with corporates and discuss marketing and go-to-market strategies.
Learning from Silicon Valley’s Success
Drawing inspiration from Silicon Valley’s tech giants, Sanjiv emphasized the need for existing industry giants to support startups in the manufacturing sector. He hopes that the Startup Mahakumbh will facilitate collaboration between startups and corporates, similar to the support seen in the West from companies like Google, Apple, and Amazon.
Bharat Startup Ecosystem Registry: Connecting the Dots
Apart from the Startup Mahakumbh, DPIIT is gearing up to launch the Bharat Startup Ecosystem Registry. Sanjiv believes that this registry will unify the fragmented parts of the startup ecosystem, shedding light on previously unknown startups and enabling startups to identify target sectors or states from a go-to-market perspective.
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- Source: https://timesnext.com/startup-mahakumbh-catalyst-indias-manufacturing-deeptech-sectors/
