The Department of Industrial Policy and Promotion (DIPP) in the Ministry of Commerce and Industry and the Government of Goa, hosted the annual Startup India Venture Capital Summit in Goa on December 07, 2018.
The theme of the Summit is ‘Mobilizing Global Capital for Innovation in India.’ The event will showcase the Indian startup opportunity for funds from around the world. The summit aims to attract more global capital into the country. The event will enable a dialogue between Government and experienced Venture Capital fund managers on ways to further promote the startup ecosystem in India. The focus of the Summit is on the huge return-generating potential of India’s vast and diverse market monetized through cutting-edge technologies and supported by investor-friendly regulations. The key objectives of the Summit will be to showcase the India opportunity, increase capital flow for Indian startups and further promote ease of doing business.
With over 150 participants expected to attend, it will bring together government officials, domestic and international startups, global fund managers and India’s vibrant entrepreneurial community on one platform. Participation is expected from around 100 funds from countries like United States of America, China,Japan, Hong Kong and Singapore. India has the world’s third largest startup base with more than 14,000 recognized Startups. More than 8,200 startups were recognized by DIPP in 2018 alone, leading to the creation of more than 89,000 new jobs this year, taking the total job creation contribution of recognized Startups to 1,41,775.
Government of Goa is focused on building a vibrant startup ecosystem in the state. It aims to make the state, one of the most preferred start-up destinations in India, and ensure that Goa features in the top 25 start-up destinations in Asia by 2025.