#Live | Union Minister Piyush Goyal's Special Address At Startup Mahakumbh 2025

Startup Mahak 2025, India's largest startup event, showcased 3,000+ exhibitors, 1,000+ investors, and 50,000+ visitors from 50 countries. The event highlighted India's thriving startup ecosystem, focusing on AI, deep tech, and sustainable solutions. Discussions emphasized India's ambition to become the global startup capital, fostering innovation and self-reliance, and promoting collaboration between government, industry, and academia. A new NCIC Startup India AI grand challenge was launched, aiming to leverage AI for national security. I would now like to welcome s Harshvardhan Agarwal President Fiki to share his insights on the role of startups in India's economic growth Honorable minister for commerce and industry s P Goel G sri Amardip Singh Baa secretary DP Sri Sanjie joint secretary DP members of the organizing committee distinguished guests and friends a very good evening it's honor to stand before this gathering of policy makers entrepreneurs, investors and thought leaders who embodied the spirit of innovation driving bat forward today as we explore the road to startup India 2047 we aren't just inversing economic growth we are shaping a self--reliant globally influential India I extend my heartfelt gratitude to Sri Pus Goyel G for his unwavering leadership in fostering India's startup ecosystem his vision has been instrumental in shaping policies that empower entrepreneurs and drive innovation with over 1.6 lakh DPIIT recognized startups India ranks as the world's third largest startup ecosystem generating over 17 lakhs jobs as Steve Jobs said innovation distinguish between a leader and a follower India is choosing to lead our policy landscape has made entrepreneurship more accessible simplified compliance self--certification and single video window clearances have fooled growth the rupes 10,000 CR fund of funds for startups and the startup India seat fund scheme have provided critical entry stage support the Basar platform launched in 2024 is set to centralize collaboration within our startup ecosystem. A significant trend shaping our ecosystem is reverse flipping where startups that once incorporated abroad are now returning home with access to India's financial markets through IPOS, increased investors confidence and improved regulatory frameworks. India is becoming the preferred destination not just for startup creation but for long--term growth. This shift highlights the maturity of our capital markets and the faith our entrepreneurs place in bat's future. This event offers an unparalleled opportunity to connect, collaborate and scale with 3,000 plus startups 1,000 plus investors and delegates from 50 countries. It is one of the largest showcases of innovation spanning themes such as AI, HTECH AGR tech, fintech, energy climate tech and more AI and deep tech must lead the way in creating scalable sustainable and frugal solutions. India has always been known for its ingenuity doing more with less. Now we must apply this mindset to build cost effectivity innovations that solve real world problems to our startup founders. Now is the time to think bigger tackle the impossible and turn global challenges into opportunities. Climate change, Healthare agriculture, education, equity. these are not just problems. These are calls to action. Let us push boundaries, take risks and create solutions that redefine what is possible. FIY is committed to nurturing a thriving startup culture through impactful programs, strategic partnerships and global engagement. We continue to empower entrepreneurs and innovators. The road to 2047 is not a sprint. It's a marathon success requires persistent effort from government industry academia and civil society. Together we can build a self--reliant globally competitive startup ecosystem that elevates bat and and riches the world. Thank you so much. J Hind. Thank you Hara. Sir your efforts in championing industry-led innovation have been instrumental in strengthening India's economic foundation. It is now my honor to invite Sri Naven Kumar Singh, chairman of NCIC to share an overview of the the NCIC Startup AI challenge. honorable Union Minister for Commerce and Industry. Shri Push Goel dignitaries on and off the das, ladies and gentlemen. a very good evening to all of you. It's indeed a great pleasure and a privilege to be standing here amongst all of you This evening. historically and geopolitically, the world is at the cusp of tectonic changes. one that is likely to affect the present as well as the future generations. It is now a widely accepted fact that the artificial intelligence and machine learning is an epoch changing technology likely to have a fundamental effect on the world order akin to the computing itself, traditional notions of security. We are reinventing as we speak, especially in the technology security domains that we operate. It is clear that the overwhelming talent in the tech space is situated in the private sector and academia. Most importantly, in our startup ecosystem, the honorable Prime Minister, during his visit to NT, of which the National critical Information infrastructure Protection Center is a unit, had specifically emphasized the role of startups and our indigenous industry in meeting our requirements of using Nishe technologies in the national and cyber security domain, With the aim of actualizing his vision, combining the potential of startups as a medium and AI as the technology. NCIPC has come up with a plan to conduct the first of its kind, NCIPC startup India, AI grand challenge, on the theme responsible AI for national security. This launch represents over a year--long effort by many of our colleagues to capture and articulate the key challenge areas, where we think the startup ecosystem can make a major difference. We hope that in 2047, some of the startups that come up through this grand challenge will be occupying the Indian mid-and large-size cyber company space with roots deeply embedded in India, serving the nation and the world. Howsoever we envision the Indian AI stack going ahead. These companies and the talent would be an integral part of the same Through this, we also want to contribute our bit towards building the security and especially the cyber security TEEx stack of Bhat. In line with the vision of our honorable Prime Minister. Our optimism also stems from the fact that as of yesterday, we have completed the formalities and onboarded, fit it Delhi as our incubation partner. We'll be providing world--class incubation support facilities in the intermediate stages to the startups and also creating a state-of-the-house state-ofthe-art in--house incubation facility for the final round of startups to work in our premises on our data. In addition, we'll be bringing together the best minds in-domain specific AI application from academia and industry across the country to mentor and evaluate the solutions. Our message to the startups is that those working in these domains should immediately gear up to participate in this grand challenge. We are extremely invested in the success of this program and find optimal solutions to the problems we are posing. This challenge is only the beginning of what we can do together. So express interest and get ready to register for the NCIPC Startup India AI grand challenge. Before I end, I would like to Espcially thank Secretary, DPIT Startup India and their entire team for guiding us in framing this unique challenge, which has all ingradients for success and more So for agreeing to become our execution partner, we look forward to leveraging the ecosystem of startup India to remain ahead of others in our quest for using AI responsibility for national security. Thank And I recall that this whole idea of startup India was launched in 2016 from Vigyan Bavan. I don't know if you saw that video just now when the Startup India was launched. that's Vigyan Bavan that used to be India's premier location for all grand functions, all major functions where the president, the vice president or the honorable Prime Minister any of our honorable dignitaries was uh attending They were all being held at Vigyan Bav. look at the metamorphosis between 2016 and today when we are assembled in this grand premisis at bharat mandapa that is the changing landscape of new India that we are all witnessing incidentally. Now we don't have one but two equally big and equally grand convention come exhibition centers Bhat Mandapam and Yobi in Dwara food exhibition six digigit India today is not taken lightly. What are India startups doing? today? We have focused on food delivery apps, turning unemployed youth into cheap labor. So the rich can get their meals without moving out of their house. And against that, what does a Chinese startup do work on developing electric mobility, battery technologies. And with that, they're today dominating the electric mobility ecosystem. We are very proud of what India has done. But are we the best in the world? As yet? Not yet? Should we aspire to be? Or are we going to be happy being Delivery boys and girls? Look at the second one. I, I've been going through a lot of our startup success stories. And when I go all over the country, we often have startup pres presenting to us what work they're doing, Fancy ice cream and cookies. In fact, I know at least three or four billionaires whose children make on one brand or the other. very fancy ice creams and cookies and run a very successful business. And I have no complaint against that. But is that the destiny? of India? Healthy ice cream zero glutenfree, whatever. I don't know vegan paging entrepreneur business semiconductors artificial intelligence. thereabouts when we had the first edition of Startup Mum. And it was in a smaller area, probably 10 or 15,000 square met. But it was truly remarkable. It was beyond what we had expected. And uh, as most people who have worked with me at any point of time and I think somebody who works with me once always prays and wishes he doesn't have to work with me a second time. That's the impression most officers give me. Arind, why you so surprised. But anyway, from the DI at the event, in Ooy, I demanded the largest event to be held. Uh in 6 months this team delivered, we had an outstanding startup Mahak last year, which was inaugurated by the honorable Prime Minister. Spent a lot of time meeting up with the startups Interacting with them truly inspired all of us. And we were about 3. 4,000 of us at that time. And I must say the challenge for startup Mum 2 was almost taken up from the DI of startup Mum one. And what we have today is three times bigger. three times as many participants in terms of exhibitors. and from the numbers that we are hearing of today, at least if not more, three times the number of visitors coming to see the startup mark this We may do all sorts of international trade agreements. And today under Prime Minister Modi's guidance and leadership we are not aiming small. We are not looking at agreements with countries who are in a situation which is even worse than what India is in that used to be the Congress culture. They would do agreements with countries like you know were were much weaker than us. What Modi G does his agreements with Australia we're aspiring to do an agreement with EU, the 27 nation block with UK with USA with Peru with Chile with the Australia with New Zealand with Oman with Bahin Qatar. Our ambitions are to compete with the best in the world with every one of them. We talk of a startup bridge but I can't take to them grocery stores and say this is India's offering for startups I still remember Mr. Vajpai when he was Prime Minister and he had added to the old famous words of L Bahadur Shastri J. Javan J. Kisan. He had said J. Viyan Science, J. Kissan, J. Javan Jan J. Vian. what Modi G has added is J. Anusandhan. that's innovation and unless India gets recognized across the world as a nation that has developed the spirit of inquiry in every child born in this country? Why do you think we're adding 50,000 UtaL tinkering labs? I think this budget announced that right because at the school stage we want our children to develop that inquisitiveness that desire to explore the impossible that desire to be creative to think out of the box to be innovative. not only will I repeat that old Ed AG failure. Yeah, failure is the stepping stone to success. But I have asked the organizers that in our, we have that platform, Basar in the Basar platform, I would like them to add a module for those who may not have succeeded for handholding them for taking care of them for the rest of their journey. And this thought came to me only a month ago, or 20 days ago. Some of you may have heard of chakra, chakra, innovation, Shast, Krishna, Shasta, He had come and he had showcased some of his innovative work to me in Vanja Bavan. And while I was talking to him, he mentioned about somebody who had not been as successful as him and was going through a depression IIz. And I realized that amongst all our startup work, I think we have given lot of good, uh, updesh, or, uh, sermons to somebody who may not have been very successful. But let's now Prashant, create something to handhold those who are not successful, encourage him to try again, maybe help him find his roots and that should be the takeaway of startup Mahum too and I'll come tomorrow. I'd like to meet all of you at the stalls. I'll try my best to understand as much as possible of what good work is happening. I believe almost 1,500 budding startups have been invited free of charge. 1,500 pods have been given free of charge dPIT ports. They are different, there's a different section, Are they charged anything at all p but that's what I was promised that there will not be charged anything. So by 25 and I was, uh, I was going to suggest earlier RegA you may also see which dates both venues are available next time. Try to have both venues have a much grander and bigger show. At that time we will try to and and and we must try and see that every district in the country, every district, we have 770 OD districts. Every district in the country should be present at the next startup Mar. [applause.] And if you expecting about 100,000 visitors looking at today's number this time, I hope the next edition, we can look at a number of at least half a million visitors coming to startup Maku. And that should not be all Delhi or Delhi Base or NCR Base. Let's try and encourage children from across the country, Maybe a way to get this message across the country. Every college around the country, we run a competition from early on, and select five children who have a bent of mind towards innovation, and get five children from maybe 5,000 colleges all over the country to come and visit the Startup Mar. Maybe we see if we can get every incubator and we have a, plus incubators to try and send their startup to come many will participate with stalls or PS whatever and many would like to come and see I'm told we have a thousand investors this time around Sidar How many investors will come for next startup mum? 3,000 is his math is correct. Is it okay if I pull it up on the screen and discuss this with the audience that's when I asked my colleague to show it to all of you instant grocery delivery. Latest hot on the block. I have no problems. He can list at a few billion dollars. I'm very happy I only wish they'd had more Indian investors rather than the foreigners buying off all our startups and we need more Indian investors into the game. Again of course I won't comment on what it's making people and how our resources are going only towards hyper fast logistics and look at what the other side is doing, robotics, automation, machine learning, preparing ourselves for 3d Manu preparing themselves for 3d manufacturing nextg factories that are more efficient and that compete with the rest of the world and capture markets are we as the future of India or maybe mad. The startup Mahari is also a very good initiative. I believe they've collected a 50 CR fund which is going to be India's largest private funded challenge of 50 crores, which will be dispersed through the startup MTI program. The the funding that you are giving is over and above that I believe is over and above that we have the NCIC startup AI challenge which you are running which will be another 20 CRES. So that's 70 CREs. In terms of challenge money going to encourage new young startups What will be the target for next year. 3x is at least 500 CRES. defense can pitch in a little bit defense. Also the startup ecosystem is growing. NASCOM should pitch in a little bit, get hold of NAScom on the table, then get hold of all the tech area as semiconductors and AI. So we have Micron coming in, we have advanced applied materials, all these big companies, let's get the private sector in a bigger way and create a really good pool of capital. And I promise you actually, honestly, it's in the mind. Believe me, Friends, very scared, but got tons and tons of love and affection from Mumbai. Maybe you should do one program in Mumbai. Also, that'll be a half yearly program, but truly wonderful meeting all of you. For us, your success story is not counted as, let's say, an average revenue per unit. not an ARPU that we get out of these startups participating in this startup Mum for us, the ARPU is the accelerated rise in your prosperity. ARPU, the accelerated rise per unit per startup, showing your prosperity. And if you are prosperous, if you are able to benefit from the 10,000 CRES startup fund of funds. Second edition that was announced in this budget. If some of you can benefit from them from that, grow, maintain your ownership and I really feel very sad when I come to know that for the first 25 or 50 lakhs, some bright idea of a young startup got sold to a foreign company or got sold to one of these. I didn't use the word chart Did I? I didn't but truly let's try and get some more domestic capital coming into this ecosystem. I'd like to meet with all the unicorns. Prashant, again, your responsibility, Sanjie You also a unicorn, right? Candidate AM Gupta is another unicorn to contribute so that we can create pools of domestic capital investors or even the foreign investors should be a little more benevolent, giving clawback to our do to our founders to the Indian young startups so that they can get a respectable ownership of their work of the good work that they are doing of what they create. I think this will be my appeal to all investors in the room and beyond to all those who have been involved with the startup ecosystem all these years, A little bit more of a little bigger heart towards the startup ecosystem. Just play or read through the Clips, No need to go through other Fluffs, Save Time