Indian Institute of Technology Madras (IIT Madras) Centre for Research on Startups and Risk Financing (CREST) hosted an International Confluence Conference on Startups and Innovation from 13th to 15th December 2023. This conference aims to serve as a global platform for scholarly discourse, bringing together a diverse array of experts, researchers, practitioners and policy makers from across the world, as per the official announcement.
Also, during the conference, the ‘Indian Startup Ecosystem and Investor Platform’ was launched during the inaugural session on 13th December 2023 by Sivasubramanian Ramann, chairman, managing director, Small Industries Development Bank of India (SIDBI), in the presence of V. Kamakoti, Director, IIT Madras, and Gopal Srinivasan, chairman, managing Director, TVS Capital, the statement added.
“The notion of an advanced economy is that it should also have a very efficient capital market. If I take the US as an example, there was every kind of risk-return profile in the investment community, and therefore, available to entrepreneurs, businesses, Government and real estate developers. Capital was available to finance risk at varying levels. In the start-up space, there were hundreds of billions of dollars available at the angel investing level and in other stages to finance start-ups at different stages of their journey,” PTR Palanivel Thiagarajan, minister, Information Technology and Digital Services, Government of Tamil Nadu, said.
The Indian start-up ecosystem has led to the emergence of six decacorns and more than100 unicorns and continues to be the third largest tech startup ecosystem after the U.S. and China. With its prominence in the global arena as a key centre for startups and Innovation, the Indian startup ecosystem is set to take the baton of development in the subcontinent and win over the world, creating history.
“The objective of CREST is to be a globally renowned centre for research on start-ups, innovation and risk financing. Apart from undertaking cutting edge research projects and various studies for the government, CREST has also built India’s most comprehensive information platform for the start-up ecosystem, thereby fulfilling the long felt need of such an information platform for the entrepreneurs and other stakeholders,” Thillai Rajan A, head, Centre for Research on Startups and Risk Financing (CREST), IIT Madras, said.