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To boost India’s startup ecosystem, the government will hold a “Innovation Week.”

The Department for Promotion of Industry and Internal Trade (DPIIT) will host the event as part of the ‘Azadi ka Amrit Mahotsav,’ which will commemorate the 6th anniversary of the start of the ‘Startup India’ initiative.

The Centre Government plans to host a first-of-its-kind innovation week in January 2022 to promote India’s startup ecosystem. The event, which will be held as part of the ‘Azadi ka Amrit Mahotsav’ by the Department for Promotion of Industry and Internal Trade (DPIIT), will also commemorate the 6th anniversary of the start of the ‘Startup India’ initiative. Also see: How Do Software-Based Startups View Global Expansion?

The event will be attended by key central ministries, states, startups, and other stakeholders, according to a release from the Ministry of Commerce and Industry. The main goals of the Innovation Week, according to the Ministry, will be to bring together the country’s most important startups, entrepreneurs, investors, policymakers, and other national and international stakeholders for a specially curated event on innovation and entrepreneurship, as well as to share knowledge on best practises for nurturing startup ecosystems.

The highlights of the upcoming event:

  • The goal of the programme is to promote and inspire young people to innovate and start businesses, as well as to strengthen the entrepreneurial environment.
  • Innovation Week would aid and abet the mobilisation of global and domestic funds for startup investments, as well as give market access chances for companies.
  • The event will also feature high-quality, high-tech, and cost-effective Indian technologies.
  • There will be workshops geared to illustrate the scope and depth of entrepreneurship based on innovation in India, in addition to discussing on best practises from the greatest ecosystems around the world.
  • Companies will be encouraged to set up innovation labs in the show area. Working models of a few technologies are suggested to be shown for participants to try out.
  • Attendees will be able to try out cutting-edge technology such as augmented reality, virtual reality, 3D printing, drones, and artificial intelligence in designated areas/sessions.
  • A separate exhibition area for selected startups will be available at the event.
  • A separate exhibition area for selected startups will be available at the event.
  • Several pitching sessions for entrepreneurs from all industries and stages will be held, giving them the opportunity to present their innovations to some of the most influential investors and corporations.

The proposed week-long event, according to the Ministry, will include activities organised around various themes. International engagements, market access and incubation help, and start-up financial support are the tentative themes. The conference will cover several aspects of the innovation lifecycle. Also read: Microsoft, Invest India To Nurture 11 Tech Startups, Khatabook Raises USD 100 Million

“Startups, Incubators, Accelerators, Mentors, Venture Capital (VC) Funds, Investors, Government e-Marketplace (GeM), Corporates, Students, Entrepreneurs, Ecosystem enablers, Government Officials, and others will attend the week-long event,” the Ministry stated, adding that mentoring and incubation support will be provided in collaboration with partnering government agencies such as NITI Aayog, Ministry of Electronics and Information Technology, and others.

Various seminars are planned as part of the innovation week to facilitate additional international engagement and market access, as well as presentations to highlight best practises used by multinational ecosystems to globalise their startup environments.

Workshops with leaders from the investment and acceleration ecosystems will also include conversations about their global experiences, significant learnings, and market insights. According to the Ministry, a fireside discussion will be held to discuss strategies and tactics for entering the global market.

Written by IOI

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