Commerce and Industry Minister Piyush Goyal today said the startup collaboration has a huge potential because with this new ideas will prosper and young minds come together to work collectively to come with new ideas, innovation and invention.   

Addressing the inaugural session of the two-day Prarambh: The Startup India International Summit in New Delhi, Mr Goyal said, as we work together with a spirit of partnership within different parts of the country and with our global peers, we will truly be able to learn from each others’ experiences, support each other and  expand the startup ecosystem. He said in the last five years , India has been able to mushroom over 41 thousand startups and it has now become one of the fastest-growing startup ecosystems in the world.

The Minister encouraged Indian investors to look at the BIMSTEC region and work towards greater engagement to demonstrate to the world India’s joint commitment to make startups the pillar on which future economic development will prosper. 

He added that when India invites startups from its neighbourhood countries, the country is going beyond Government to Government, Business to Business collaboration to a Startup to Startup collaboration.  He also said India along with all the BIMSTEC nations will certainly experience unprecedented growth in the post-COVID pandemic world and start a golden era of development.

Mr. Goyal expressed confidence that ‘Prarambh’ will further strengthen the startup ecosystem by enabling exchange of ideas and inspiring entrepreneurs to innovate and realise their dreams.

Prime Minister Narendra Modi will also interact with startups through video conferencing tomorrow evening. The two-day Summit is being organised as a follow up of the announcement made by the Prime Minister at the fourth BIMSTEC Summit held in Kathmandu in August 2018 wherein India committed to host the BIMSTEC Startup Conclave. It also  marks the fifth anniversary of the Startup India initiative. With participation from over 25 countries and more than 200 global speakers, the Summit is the largest startup confluence organised by the Government of India since the launch of the Startup India initiative.

The summit will have 24 sessions with focus on enhancing multilateral cooperation and engagement with countries from around the globe to collectively develop and strengthen the startup ecosystems.