With the Startup India Venture Capital Summit 2018 promising to attract global capital in the Indian startup ecosystem, Goa is aiming to make it to the list of top 25 startup destinations in Asia, by 2025.
The annual Startup India Venture Capital Summit, a joint initiative by the Ministry of Commerce and Industry, the Department of Industrial Policy and Promotion (DIPP) and the Government of Goa, is set to begin in Goa on Friday, December 7, 2018.
The theme for this year is 'Mobilizing Global Capital for Innovation in India’, and the event is set to showcase startup opportunities which can, in turn, attract global capital to the Indian market.
More than 100 participants are expected to attend the event which brings together government officials, global fund managers and entrepreneurs, onto a single platform. Participants are expected to arrive from Australia, China, Hong Kong, Japan, Singapore and the United States.
The International Finance Corporation (IFC), a sister organisation of the World Bank Group, and the Indian Private Equity and Venture Capital Association (IVCA) are partners for this initiative. IFC has worked with more than 2,000 businesses worldwide and will help attract global and Indian investors to the summit. IVCA, India's apex association representing the interests of country's private equity & venture capital industry for over a decade, will also help attract relevant industry professionals to the event.
With more than 14,000 recognised startups, India has the third largest startup ecosystem globally. The registration of another 8,200 startups this year with the Department of Industrial Policy and Promotion, has generated employment of more than 89,000 - taking the total count of job creation by the registered startups to 1,41,775. Aiming to create a niche for itself in this bustling space, the Government of Goa has its sigh set on becoming one of the most preferred startup destinations in India and making it to the list of top 25 startup destinations in Asia, by 2025.
The Startup India Venture Capital Summit comes with the promise to attract international partners and promote fresh ideas on business models and technology innovation. The summit's core idea is to increase the capital flow in the country by enabling the ease of doing business.
As the digital media partner to the summit, YourStory will be putting out live tweets and posts from the event. Watch this space for further news and takeaways from the summit.