A two-day national StartUp fest has been scheduled to take place this August with over 10,000 startups to be invited to attend this event. The event comes as an extension of the “Make in India” initiative.
The Department of Industrial Policy and Promotion (DIPP) is working on the fest to create a national platform for the startup ecosystem to come together and exchange ideas, innovation and potential. The fest will also see venture capitalists and angel investors in attendance.
One of the primary purposes of this event, apart from providing a conducive platform for startups, is for budding entrepreneurs to discuss the common issues and problems plaguing the startup ecosystem in the country as well as introducing startups to potential investors. The fest will also give a boost to the StartUp India initiative that was launched early this year. As mentioned by the Prime Minister Narendra Modi earlier, it is hoped that such an event will give the startup ecosystem of the country “national and international” visibility.
DIPP was recently in the news for rejecting the proposal of 200 startup companies who had sought to avail of the tax benefits as per the scheme that was announced last month as part of the Startup India initiative. Only one company was accepted as meeting the requirements laid down by DIPP.
The fest will concentrate on particular sectors such as health, agriculture, education and others. The fest will likely be organised in Hyderabad with DIPP to confirm further details of the event.
Source: Economic Times