Startup Mahakumbh Witnesses Engaging Discussions at the nasscom Deep Tech Pavilion, Highlights Crucial Aspect of Global Business Scaling

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Business Wire IndiaStartup Mahakumbh, nation’s biggest celebration of the startup ecosystem, commenced today, at Bharat Mandapam, setting the stage for three days of collaboration, inspiration, and transformative discussions. During the second day, the sessions at the nasscom deep tech pavilion started with an insightful keynote by Mr. Ravi Chhabria, Managing Director, NetApp highlighting the importance of understanding the deeptech market in India before stepping into it.

The event is spearheaded by the collaborative efforts of ASSOCHAM, nasscom, Bootstrap Incubation & Advisory Foundation, TiE and Indian Venture and Alternate Capital Association (IVCA) and supported by Invest India, Department for Promotion of Industry and Internal Trade (DPIIT) and Ministry of Electronics and Information Technology (MeiTY). Startup Mahakumbh promises a showcase of unparalleled innovation, highlighting transformative products and revolutionary business models by its key presenter Government e Marketplace, pavilion leads including Zerodha and National Bank For Agriculture And Rural Development (NABARD) and support from states including Bihar, Rajasthan, Karnataka and Kerala. Powered by Small Industries Development Bank of India (SIDBI), Zomato and Export Credit Guarantee Corporation of India (ECGC), Startup Mahakumbh also has the state of Uttar Pradesh as state partner for the event.

Day 2 witnessed a diverse range of activities and sessions across 10 pavilions including AI + SaaS, D2C/Consumer brands, Agritech, Fintech, Deep Tech, Biotech & Pharma, Incubators, Climate Tech, E-sports, and B2B Manufacturing.

During the session, the panelists delved into nuanced discussions surrounding the funding landscape for deep tech startups, offering valuable insights and perspectives. Padmaja Ruparel, (Co-founder, Indian Angel Network) underscored the importance of investing in scalable solutions that tackle real-world problems, while Naganand Doraswamy (Managing partner & Founder, Ideaspring Capital) emphasized the essential criteria for investment and the challenges in market development. Ashwin Raguraman (Co-founder and partner, Bharat Innovation Fund) provided a comprehensive overview of deep tech investment strategies, highlighting the continuous nature of product development and the intricacies of fundraising. Additionally, in the Fireside Chats, speakers emphasized the significance of pioneering IP, early monetization strategies, and effective communication in building successful deep tech ventures. These discussions illuminated the path forward for entrepreneurs navigating the complexities of the deep tech landscape.

The session also saw engaging discussion on the spacetech industry, Manish Advani (VP, Elevation Capital) and Vinit Bansal (CTO and Co-founder, PierSight Space) highlighted India’s growing presence in spacetech, fueled by recent government reforms opening doors for private players. They emphasized the need for expertise and problem-solving focus in fundraising. During the panel discussion on “Building a high-performance deep tech team”, Avnish Kumar (Founder and CEO, LivNSence technologies) talked about building a high performance team, and stressed on the importance of defining criteria and fostering the right culture to attract top talent, underscoring the significance of leadership in shaping team dynamics and vision alignment.

Talking about the sessions held at the nasscom deeptech pavilion, Kritika Murugesan, Senior Director, Deep Tech & Startups, nasscom said, “In today’s booming deep tech industry, it’s crucial for new-age startups to grasp market dynamics and globalize their products effectively. Understanding these aspects is pivotal for navigating the competitive landscape and achieving sustainable growth. Equally essential is building the right team, comprising of individuals who not only possess technical expertise but also share the vision and drive to propel the company forward. Together, with a keen understanding of the market and a cohesive team, startups can navigate challenges and opportunities in the ever-evolving deep tech.”

Startup Mahakumbh onboards top unicorns in the sponsors list, with Games 24X7, Oyo and Info Edge as Unicorn Gold sponsors, Dream11, Flipkart, Infra Market, Moglix, Nykaa as Unicorn Silver sponsors, BharatPe and Razorpay as Unicorn Bronze sponsors. The list of AIF sponsors includes Accel, Rukam Capital and Peak XV in the gold category, Aavishkar Group, Elevation Capital, Iron Pillar in the silver sponsorship category and Avendus Capital, Chiratae Ventures, Fireside Ventures, IvyCap Ventures and Sorin Investments in the bronze category of AIF sponsors.

The event will also connect Indian startups with event partners including Dalmia Bharat & Google (silver partners), Acko, Captain Fresh, Mobile Premier League (MPL), Jetsynthesis, Tally (bronze partners), IAN & Blume Ventures (session partners), IDFC First Bank (Bank partner), MM Active & India Mobile Congress (IMC) (Event partners) and Indian School of Business (ISB) (Academic partner).