SummitUp of IIM-B brings together over 300 start-up founders and experts

India Incubator Kaleidoscope 2024 report released at the event says incubated startups are 2.5 times more likely to secure funding and significantly boost job creation and economic growth

SummitUp 2024, hosted by NSRCEL, IIM-Bangalore’s entrepreneurship and innovation hub, concluded with varied discussions on shaping the future of entrepreneurship in India. SummitUp focussed on the themes of “Tech & DeepTech, Governance, Impact, Funding and the Gender Lens.”

According to a release by IIM-B, SummitUp brought together over 300 start-up founders, industry experts and entrepreneurship enthusiasts. SummitUp 2024 has further solidified its position as a driving force supporting innovation and growth for the nation.

Accelerating funding

One key highlight of the event was the launch of the India Incubator Kaleidoscope 2024 report, jointly developed by NSRCEL, IIM Bangalore, and IIT Madras.

“The report emphasises the vital role incubators play in fast-tracking start-up growth, driving accelerated funding, intellectual property creation, and greater robustness. Key findings show that incubated start-ups are 2.5 times more likely to secure funding and significantly boost job creation and economic growth. The report is expected to influence both policy and practice in the start-up ecosystem,” said the release.

Anand Sri Ganesh, CEO of NSRCEL, said, “By empowering start-ups, we not only create jobs but also energise local economies and inspire future generations. Together, we have the chance to turn challenges into opportunities and make a meaningful impact. Let us come together to push boundaries and pave the way for a brighter future.” 

The keynote address of the event was delivered by Amitabh Kant, G20 Sherpa, Government of India, and ex-CEO of NITI Aayog. He emphasised India’s journey towards becoming a $30 trillion economy and the need to encourage entrepreneurial disruption to solve challenges like governance and funding — further fuelling entrepreneurial ambitions.

Vipul Parekh, Co-Founder of bigbasket.com, who attended the event, spoke of building customer-focused products, refining core ideas, and fostering a strong, and team-driven culture. Among the key panel discussions was “Cracking the Code: Key Reasons Why VCs Walk Away,” with venture capitalists Piyush Bansal of Aditya Birla Ventures and others.

Masterclasses

There were also masterclasses held across a wide range of topics, including “Product Design for Global Markets” by Ravi Kallayil, CEO of Plaeto.in; “Women Leaders: Changing the Landscape of Indian Entrepreneurship” by Meena Ganesh, Co-Founder & Chairperson, Portea Medical; and “Business Models for Gen-AI & Deeptech Companies” by Arjun Rao, General Partner, Speciale Invest, among others.

Published - October 14, 2024 07:45 pm IST