The 14th edition of YourStory’s TechSparks event, held in Bengaluru, concluded after three days of insightful conversations and workshops. The event aimed to provide a platform for new-age entrepreneurs and highlight the innovative ideas of startups across sectors.
A highlight of the event was Priyank M Kharge, Minister of IT, BT, and Rural Development and Panchayat Raj, Government of Karnataka, who emphasized the entrepreneurial spirit in the state and highlighted the upcoming semiconductor revolution in Karnataka. The government is focusing on skills development, centers of excellence, global innovation alliances, expansion of startups beyond Bengaluru, ease of doing business, and a preferential public procurement policy to encourage startup growth.
One of the notable startups showcased at the event was Namma Yatri, an open mobility app built by Juspay. The app has facilitated over 86 lakh trips, helping partner drivers earn over Rs 128 crore without any commission. Vimal Kumar, the founder of Juspay, aims to build mobility as a large-scale utility service.
The hiring landscape for startups in India was discussed by Alok Soni, Founding Team and Head of Business at Monet Work. He revealed that companies now prefer employees with experience in the startup ecosystem over premier educational institute graduates.
Gopal Srinivasan, Chairman of TVS Capital Funds Ltd., addressed the funding winter in India, expressing optimism about the country’s growth potential beyond the GDP numbers.
The event also featured discussions on topics such as the future of Web3, real-world uses for blockchain, and the impact of AI on content creation. Rajeev Chandrasekhar, Union Minister of State for Electronics and IT, highlighted the need for the world to recognize and consume products from India.
PhonePe, a leading fintech company, launched its app store, Indus Appstore, with the participation of Sameer Nigam, Founder and CEO of PhonePe, and Shradha Sharma, Founder and CEO of YourStory. The app store already has 41 apps signed up, including Dream11 and ShareChat.
The event concluded with insights from Nithin Kamath, Founder and CEO of Zerodha and Rainmatter Fund, who emphasized the time and effort required to build a value-driven business.
Overall, TechSparks 2023 successfully showcased the entrepreneurial spirit and innovative ideas shaping the startup ecosystem in India.
Definitions:
– TechSparks: YourStory’s flagship startup-tech event.
– Startup ecosystem: A network of individuals, organizations, and resources that support the development and growth of startups.
– Changemakers: Individuals or organizations that create significant positive change in their field or industry.
– Mobility space: The sector that focuses on transportation solutions and services, particularly in terms of movement and accessibility.
– Startup hiring landscape: The current recruitment trends and practices specifically related to startups.
– Funding winter: A period of reduced funding availability for startups.
– Web3: The next generation of the Internet, which aims to create a decentralized and user-centric online environment using blockchain and other technologies.
– AI (Artificial Intelligence): The simulation of human intelligence in machines that are programmed to think and learn like humans.
– Digital India Fund: A domestic pool of capital aimed at supporting job creation and innovation in the digital sector in India.
– Edtech: The application of technology in the field of education to enhance teaching and learning processes.
– Value-driven business: A business that prioritizes creating value for its customers, employees, and stakeholders over short-term profits.
Sources: YourStory