Startup India Current Affairs - 2020

“Demo Days Initiative”: Atal Innovation Mission to support startups

On July 14, 2020, Atal Innovation Mission of NITI Aayog coordinated and concluded the series of COVID-19 “Demo Days” initiative. The initiative will identify promising startups that have the potential of COVID-19 innovations.

Highlights

The “Demo Days” initiative was launched by Atal Innovative Mission in partnership with government bodies such as Biotechnology Industry Research Assistance Council (BIRAC), Department of Science and Technology, Department of Biotechnology (DBT), AGNI, Startup India.

About the Initiative

Under the initiative, 9 Demo Days were held on Personal Protective Equipment (PPE), medical devices, technology solutions. Around 70 startups were shortlisted under the initiative. These startups will receive support in the form of funding, supply chain and logistics and access to manufacturing abilities.

Benefits

The initiative has helped to make 340 connections involving more than 50 startups. It also helped to remove the roadblocks in commercialization and also provided suggestions for its improvement.

Goa to host 2nd edition of Startup India Global Venture Capital Summit 2019

The 2nd edition of Startup India Global Venture Capital Summit is being organized in Goa on 6-7 December 2019 for Fund Managers and Limited Partners of Top Global Venture Capital (VC) Firms. The summit is being organized by Department for Promotion of Industry and Internal Trade (DPIIT) under Union Ministry of Commerce and Industry, in partnership with Goa Government. Theme for Startup India Global Venture Capital Summit 2019 is- ‘India Opportunity- Investing in tomorrow together’.

About Startup India Global Venture Capital Summit

Background: The first edition of Startup India Global Venture Capital Summit was held in 2018 in Goa. It brought together more than 250 participants from over 9 countries and showcased venture capital opportunities in India as well as facilitated a rich exchange of ideas on various aspects of investor world.

Objective: To showcase India’s opportunity in sectors of FinTech, EdTech, E-Mobility, MedTech, Enterprise Software, Genomics and Lifesciences. Summit also aims to understand best practices for venture capital industry, identify issues faced by them for investments in India and evaluate ways to address those issues.

2019 Edition: This year the Summit focuses on mobilizing global capital for innovation in India and is aimed towards reaching new heights in both reach and scope. The Summit will bring together a series of engagements involving more than 350 representatives of leading Global Venture Capital Firms (GVCF), High-Network Individuals (HNIs), Government of India (GoI) officials, top Corporates, Limited Partners, Family Offices, and select innovative Startups. It will showcase India Advantage, diversity and scale of Indian market opportunity, as well as cutting-edge innovations originating in India.

Significance: The summit looks at increasing capital flow for Indian Startups by showcasing high-quality tech as well as non-tech startups to global investor community and fostering Ease of Doing Business (EDB) by identifying and discussing issues faced by investor community. Through this event, the Startup India is providing Indian startups an opportunity to meet Top Global Investors at event to get business guidance and to discuss investment opportunities.