PM Modi Praises India’s Growing Startup Sector and Youth Innovation at Startup Mahakumbh

India’s burgeoning startup culture continues to gather speed at an extraordinary pace, powered by the entrepreneurial zeal and talent of the country’s youth, said Prime Minister Narendra Modi in his address at the inaugural Startup Mahakumbh conference in New Delhi. Mr. Modi praised the youth for choosing the path of job creation over seeking employment, noting that over 1.25 lakh innovative startups have emerged with more than 110 achieving unicorn status.

The PM outlined key policy support provided by the government including the Startup India initiative which aims to fuel entrepreneurial ideas and connect promising ventures to funding. Announcing a Rs 1 lakh crore grant for research and innovation in sunrise sectors, he expressed confidence that startups will play a central role in achieving the goal of transforming India into a $5 trillion economy.

Statistics released by organizers indicate that Startup Mahakumbh saw unprecedented participation with over 3000 delegates in attendance. Over 2000 startups participated alongside 1000 investors, 100 unicorns and representatives from 300 incubators and accelerators from India and abroad. Future entrepreneurs and visitors swelled the numbers to over 30000 participants, making it a historic event that will bolster all stakeholders in India’s burgeoning tech and innovation driving startup landscape.