The International Startup Festival (ISF) 2024, co-powered by NTT Data and organized by the International Start-up Foundation, is currently underway at the Engineering Staff College of India (ESCI), Gachibowli. Themed “Innovation and Entrepreneurship in the AI Era,” this year’s event is a hub for innovation, partnerships, and funding opportunities, with strategic collaborations and global networking at its core.
The festival began with the signing of 12 Memorandums of Understanding (MOUs) between the International Start-up Foundation and several prominent institutions, including Singularity University, We-Hub, US India Chamber of Commerce, Association of Business Women in Commerce and Industry (ABWCI), Research and Innovation Circle of Hyderabad (RICH), Telangana State Innovation Cell, Quality Engineering Foundation, World Trade Centre – Shamshabad, GMR Innovation Centre, IIIT Hyderabad, HYSEA, and NIT Warangal. These partnerships aim to bolster the startup ecosystem, providing mentorship and market access to emerging entrepreneurs, particularly focusing on women entrepreneurs.
The event, which spans three days, boasts an impressive lineup of over 250 CXOs, 300 venture capitalists, 800 global angel investors, and more than 5,000 delegates from countries such as the USA, Canada, UK, Australia, New Zealand, Japan, UAE, and various European nations. ISF 2024 serves as a crucial platform for startup founders to connect with industry peers, investors, and global leaders, fostering collaboration on innovative projects and helping outline growth strategies for their ventures.
The ISF Expo, inaugurated by Mr. D. Shetkar Suresh Kumar, Member of Parliament, Zahirabad, and Mr. Jayesh Ranjan, IAS, Special Chief Secretary, Govt. of Telangana, showcased innovations from over 200 curated startups. The Expo’s highlight, the Junicorn Pavilion, provided an exclusive space for school students and undergraduate innovators to present their state-of-the-art solutions. Over 30 young “Junicorns” participated, receiving valuable feedback and advice on scaling their ideas into sustainable businesses.
Mentorship and AI Innovation
In a bid to nurture the next generation of entrepreneurs, Hover Robotix and Mentor X announced their collaboration to empower young innovators. They will offer mentorship, resources, global networks, and funding opportunities, aiming to transform early-stage startups into industry-leading ventures. This partnership is expected to play a pivotal role in fostering a dynamic ecosystem for Junicorns, providing essential support for AI and robotics startups.
Focus on Rural Innovation and Economic Growth
The festival also hosted the Rural Economic Forum Round Table, emphasizing the potential of rural innovation in driving India’s economic growth. Dr. J.A. Chowdary, Chairperson and Convenor of the International Start-up Foundation, remarked on the importance of focusing on rural India, stating:
“We at ISF believe in cultivating and promoting a problem-solving mindset backed by the zeal to discover innovative solutions that will lead to the foundation for great enterprises in the future… Solutions for the problems in rural India can play a pivotal role in transforming the lives of the majority of the population, help connect them with the rapidly growing economy of the country, and be the accelerators towards change.”
He further announced the launch of ‘Ankura Yatra,’ an initiative in which CXOs, mentors, and investors will visit rural areas to identify and support innovators, aiming to help them grow and expand their ventures.
Encouraging Future Innovators
Dr. Siva Mahesh Tangutooru, Co-founder & Director of ISF, highlighted the importance of supporting young innovators:
“At ISF 2024, we aim to empower the next generation of innovators not just to envision change but to actively engage in creating it. We have identified 10-15 start-ups who would be mentored by the International Start-up Foundation. We are also encouraging the Junicorns so that they become an integral part of the startup movement, future job creators, and agents of transformation for the country by allowing them to showcase their innovative solutions.”
Government Support and Vision
Speaking on behalf of the government, IT Minister Sridhar Babu commended the efforts of ISF and its founder, Dr. J.A. Chowdary, stating:
“Today the International Startup Festival (ISF) is a great initiative by J A Chowdary, who has a great passion, interest and resolve to bring about an IT revolution in India. He has comeback to encourage youth and upcoming generations to propel and advance technology and software industries with startups to solve ground level problems through their innovations.”
Babu also emphasized the Telangana government’s commitment to creating infrastructure and market access for startups, aiming to produce 40-50 unicorns and make Telangana the global AI capital.
Jayesh Ranjan, Special Chief Secretary of the Department of Information Technology, Electronics, and Communications, expressed confidence in the future of startups in Telangana, remarking:
“Telangana, which was formed 10 years ago, is considered as a young state in our country. Today, over 6500 startups are present in Hyderabad… Students who are still making up their minds whether to go for startups or to get a job, ISF is a great platform which offers various insights about the startup ecosystem, success stories, etc.”
With its dynamic mix of innovation, mentorship, and partnerships, ISF 2024 is poised to become a cornerstone event in driving India’s startup ecosystem forward. The festival will continue to host discussions, exhibitions, and networking opportunities, concluding with the much-awaited announcement of the ISF Pitch Fest winners.