The International Startup Festival (ISF) 2024 got underway on Thursday in Hyderabad with Telangana Information Technology and Industries Minister D. Sridhar Babu seeking to underscore the role of startups as the State eyes to become a $1 trillion economy in ten years.
The State government is keen on partnering with both national and international companies to foster the growth of the startups. “With most of the innovators struggling to find the right market or to scale up, we wish to create suitable infrastructure to help startups find the right market in India and overseas. We wish to have 40-50 unicorns propelled in the State,” the Minister said.
He listed various initiatives of the State government, including the AI City it has proposed on about 200 acres near Hyderabad as a measure to build an ecosystem to propel growth. The Minister said the Young India Skills University mooted by the State government would train youth in emerging technologies such as AI.
Organisers of ISF 2024 the International Start-up Foundation, in a release, said, the three-day event with ‘Innovation and Entrepreneurship in the AI Era’ as its theme is hosting more than 250 CXOs, 300 VCs, 800 Global Angels and over 5,000 delegates from over 15 countries, including the U.S, Canada, UK and Australia.
On the opening day, the Foundation announced the signing of 12 MoUs with Singularity University, We-Hub, US India Chamber of Commerce, Association of Business Women in Commerce and Industry (ABWCI), RICH (Research and Innovation Circle of Hyderabad), Telangana State Innovation Cell, Quality Engineering Foundation, World Trade Centre – Shamshabad, GMR Innovation Centre, IIIT Hyderabad, HYSEA, and NIT, Warangal for strategic partnerships to strengthen the startup ecosystem, encourage the next generation of innovators and women entrepreneurs by providing mentorship and market access.
‘ISF Pitch Fest’ winners were also announced at ISF 2024, which is being held at Engineering Staff College of India (ESCI), Gachibowli.
Member of Parliament D. Shetkar Suresh Kumar in the presence of IT and Industries Secretary Jayesh Ranjan inaugurated the ISF Expo in which 200 startups are showcasing their innovations.
Chairperson and convenor of ISF J.A. Chowdary said ISF 2024 is a unique ecosystem for innovators to ignite their creative potential and transform their ideas into actionable solutions.
Published – September 27, 2024 12:17 am IST
