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India gears Up for Startup Innovation Week 2024

EconomyIndia gears Up for Startup Innovation Week 2024

In a bid to unite the nation’s startups, entrepreneurs, investors, policymakers, and stakeholders, the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, is set to launch the Startup India Innovation Week 2024. Running from January 10th to 18th, the event aims to celebrate the vibrancy of the Indian Startup Ecosystem and culminates in the observance of National Startup Day on January 16th, 2024.

Kicking off the week-long festivities, Secretary of DPIIT, Rajesh Kumar Singh, is scheduled to deliver the inaugural address at the Startup Seminar, themed ‘Startups Unlocking Infinite Potential,’ on January 11th, 2024. The seminar will be part of the Tenth Vibrant Gujarat Global Summit held in Gandhinagar, Gujarat, providing a global platform for business networking and knowledge sharing.

One of the highlights on January 16th is the result declaration and felicitation ceremony for the National Startup Awards 2023 and the 4th edition of the States’ Startup Ranking Framework. These initiatives, integral to the Startup India program, aim to recognize outstanding startups and ecosystem enablers contributing to innovation, employment generation, and wealth creation.

Simultaneously, physical events are planned nationwide, organized by incubators to spotlight innovations by Indian entrepreneurs. These events encompass workshops, mentorship sessions, stakeholder round tables, and panel discussions.

To engage the startup community further, eight virtual Ask Me Anything (AMA) live sessions are slated to run from January 10th to 17th, featuring discussions with key figures in the startup ecosystem, including incubators, investors, mentors, unicorns, corporates, startups, academia, and government representatives.

Additionally, the week will host five dedicated mentorship sessions focusing on ‘How to Start Up.’ These sessions aim to enhance the capacity of aspiring entrepreneurs and student entrepreneurs, covering topics such as understanding business structures, the process of incorporating an entity, and building a business plan.

The Startup India initiative, launched by Prime Minister Narendra Modi on January 16th, 2016, aims to foster innovation, boost startups, and encourage investments. Recognizing the pivotal role startups play in nation-building, the Prime Minister declared January 16th as National Startup Day in 2022. As India marks the completion of eight years since the launch of Startup India, the initiative has seen remarkable growth, with over 1,17,000 recognized startups today.

The National Startup Awards, a key component, acknowledges startups and ecosystem enablers for their innovative products, scalable enterprises, and significant potential for employment generation and wealth creation. The States’ Startup Ranking evaluates the efforts of states and union territories in building a conducive ecosystem for startup growth, fostering healthy competition among them.

In collaboration with the Department of Youth Affairs, DPIIT is also promoting the Mera Yuva Bharat (MY Bharat) initiative launched by the Prime Minister in October 2023. This technology-driven facilitator for youth development will be a focus during the Innovation Week, with various outreach activities aimed at promoting entrepreneurship to the nation’s youth.

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