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3rd Edition of the India Global Innovation Connect (IGIC) 2024
The 3rd Edition of the India Global Innovation Connect (IGIC) 2024 in Bengaluru, drawing over 500 attendees. The event features industry leaders from 17 nations, including investors, venture capitalists, and entrepreneurs from the US, Japan, Korea, Germany, Singapore, Israel, Switzerland, France, the UAE, and others, to engage in technology and business discussions with peers in India.
The inaugural day of IGIC 2024 brought together Indian and global startup founders, venture capitalists, investors, corporate and government leaders, technology and public policy experts on a common platform. They participated in keynotes and panel discussions covering topics such as India as a destination for startup investment, the digital consumer revolution, startup solutions for corporate innovation, India’s innovation model, the roadmap for India in the global semiconductor industry, and the vision for India’s technology future over the next five years.
Claude Smadja, Chairman, Smadja & Smadja Strategic Advisory, said, “India has made significant strides in deep tech, health tech, semiconductors and aerospace technologies and has been very focussed already on Innovation and on supporting startups of the 21st century. The New Government at the Centre as such does not need new policies but rather at this stage it should focus on accelerating the development and expanding on what is already happening. We are at an inflection point and the challenge now is to cross this and scale up to higher levels,” he added.
Sanjeev Gupta, Chief Executive Officer, Karnataka Digital Economy Mission (KDEM), India, “Bengaluru has successfully established itself as a global technology hub. Today 25% of India’s registered startups are based here in Bengaluru, Karnataka and IGIC is a natural partner to build brand Bengaluru and accelerate its position in the technology, investments, GTM, mentors and startup value chain.
With largest pie of the unicorns along with the largest talent base in this ecosystem Karnataka is at the forefront to drive the digital economy of the nation. With this global IGIC platform we also bringing startups from our emerging tech clusters (Mysuru, Mangaluru, Hubballi Dharwad Belagavi) into mainstream and enabling better access to investors, mentors & global business partners for them”.
B V Naidu, Chairman of the Karnataka Digital Economy Mission (KDEM) said, “Bengaluru startup ecosystem is thriving, with over 25,000 startups attracting substantial investment bolstered by a mature IT services sector. If you have yet to invest in India, you're missing out on a rapidly growing market. India has one of the world's best digitization stories and impressive internet penetration, with 1.1 billion out of 1.3 billion people connected."
Furthermore, he added, "Additionally, India boasts one of the highest smartphone penetration rates. The government's push for digital transformation is evident in the 15 billion UPI transactions worth USD 250 billion last month. The large population, coupled with various social and urban challenges, presents not just opportunities, but immense potential for innovative technology solutions. This dynamic environment has led to the creation of 105 unicorns in India, with over 45 based in Bangalore. We aim to not just maintain, but to expand this success through strong government-industry partnerships, which have been a key factor in Karnataka's achievements.”
Building on the success of its previous two editions in 2022 and 2023, IGIC 2024 is being convened by global strategic advisory firm Smadja & Smadja with Karnataka Digital Economy Mission as a strategic partner of IGIC which also benefits from the official support and involvement of government and business organizations such as Swissnex, Japan External Trade Organization (JETRO) German Entrepreneurship, French Tech India and Business France, Enterprise Singapore, etc.
The mission of the India Global Innovation Connect (IGIC) is to enhance technology and business interactions between India's ecosystems and various foreign ecosystems. The aim is to identify new opportunities created by the rapid evolution of disruptive technologies and to explore possibilities for business partnerships.
Key partners of IGIC 2024 include Tata Digital Private Limited as the Founding Sponsor, Karnataka Digital Economy Mission as the Strategic Partner, and sponsors such as Axilor Ventures and WizFreight. Knowledge Partners include Covington & Burling and Swissnex. Partner Organizations include the Japan External Trade Organization, Start2 Group, Enterprise Singapore, French Tech India, and Business France.