PM may visit StartUp Mahakumbh, event to host over 2,000 ventures: DPIIT Secy

Prime Minister Narendra Modi is likely to visit the Startup Mahakumbh, which begins on Monday and is being held at a significantly higher scale, according to a senior government official. 

Department for Promotion of Industry and Internal Trade (DPIIT) secretary Rajesh Kumar Singh while speaking at the curtain raiser for the startup ecosystem event said the government is acting as a backseat kind of anchor for the three-day event.

The event will be held in Pragati Maidan from March 18.

"We hope to get the Prime Minister to visit this event. Now that the election announcement has come, there are formalities ... but we are still hopeful that we will be able to get him to this event," Singh said.

Expected to host over 2,000 startups, 10 thematic pavilions, over 1,000 investors, 300 incubators and accelerators, 3,000 conference delegates, more than 20 country delegations, 3,000 future entrepreneurs from all Indian states, more than 50 unicorns and over 50,000 business visitors , the event will be held over a span of three days according to the event organisers.

"This event is over 100 times larger in scale than anything you have seen before. Policy dialogue will be a small part of the event. It is more about celebration, showcasing success etc. The government is playing a backseat kind of anchor for this event. In terms of specific pain points on the policy and regulatory side that the start-up community may have, I presume some of the recommendations could come out of this event," Singh said.

Apex chamber Assocham, IT trade association Nasscom, Bootstrap Incubation and Advisory Foundation, TiE and Indian Venture and Alternate Capital Association (IVCA) have collaborated to jointly organise the event. 

The Department for Promotion of Industry and Internal Trade (DPIIT), MeitY Startup Hub (MSH) and Invest India are also backing the event.

"We like to facilitate business and industry, sometimes from the front but often from the back. The idea is to facilitate, promote and this event showcases the fact that our start-up ecosystem has become one of the largest in the world," Singh said.

The event is seeing participation from 23 states, DPIIT Joint Secretary Sanjiv said. 

"We have a SCO (Shanghai Cooperation Organisation) start-up forum which coincides with the event so that the whole world knows about the Indian ecosystem. One of our initiatives is to highlight Indian manufacturing start-ups. Anything that you can imagine as part of the start-up ecosystem, will be there at StartUp Mahakumbh," he said.

Sanjeev Bikhchandani, Info Edge cofounder and executive vice chairman said the current regime has played an integral role in developing the startup ecosystem.

The size, scale, inclusiveness and diversity will be unique at the StartUp Mahakumbh.

"The government of India has given a fund of funds (Rs 10,000 crore) and gave it to SIDBI to manage. That one single act of government altered the entire landscape. In 1992, I struggled to get a Rs 30,000 OD (overdraft) limit from a nationalised bank. I think the environment has completely changed. There is one difference in this government that when we call them up somebody picks up the phone and gives us a hearing," Bikchandani said.

According to Rukam Capital Founding Managing Partner Archana Jahagirdar, there will be inclusivity and not just a top down approach which will make a difference at the StartUp Mahakumbh.

"Normally listed and unicorns get a lot of focus but here even a normal start-up will get access to several resources. Startup Mahakumbh is a celebration of all the startups who are innovating on behalf of India. We are delighted to provide them with the platform to engage, network, and showcase the work they have done to innovate for Bharat," Jahagirdar said.

(With PTI Inputs)