The ASEAN-India Startup Festival is a flagship initiative that aims to strengthen cooperation and collaboration in science, technology and innovation between ASEAN member states and India as highlighted in the Plan of action for the ASEAN-India Partnership for peace, progress, and shared prosperity (2021-2025).
The event offers an opportunity for participating delegates from ASEAN and India to expand the national startup ecosystem to a global network, connect with businesses and investors from the international arena and further strengthen cross-border ties with ASEAN countries in the field of science and technology.
In his opening remarks on October 27, Deputy Secretary-General for ASEAN Economic Community Satvinder Singh mentioned that ASEAN has a dynamic and promising startup ecosystem.
“Despite the pandemic, last year we welcomed 25 new unicorns as the largest startups to emerge in ASEAN, with their combined valuation of 55.4 billion USD. This is a testament to the enduring investor confidence in our local startups. The successful holding of the 1st ASEAN-India Start-up Festival see opportunities to further strengthen ASEAN-India cooperation to accelerate the startup economy,” he said.
DST Secretary Dr. Srivari Chandrasekhar noted that India is now seeking to capitalise on breakthrough innovations for comprehensive socio-economic growth and the ASEAN India partnership will support the real impact of these efforts.
Ambassador of India to ASEAN Jayant Khobragade pointed out that India has emerged as the 3rd largest ecosystem for Start-up globally with over 77,000 recognised startups across the country. As of September 2022, India had 107 unicorns with a total value of 340 billion USD, including 21 unicorns set up in 2022 with a value of 26.99 billion USD.
According to BRIN Chairman Laksana Tri Handoko, research and innovation, especially in start-ups and small and medium enterprises, play a key role as the main engine of the economy during the post-pandemic.
The ASEAN - India Startup Festival 2022, which is taking place from October 27 – 30, brought together key players involved in the development of the startup ecosystem, namely government officials, start-ups, research institutes, universities, inventors, and innovators, as well as other financial institutions./.
