Technology is on the rise in Goa. Once seen as only a popular tourist destination for its beaches and nightlife, it is fast becoming a technology hotspot as well with startups setting up base here. While most of these have started out small, there are a few that have a minimum of 100 employees while others have at least 500 if not more. And of course, with a lot of educational institutes having tech competitions, the startup culture is gaining a more solid footing in Goa. For instance, during the coming week, the Goa Institute of Management is hosting the WIEF IdeaLab 2018 on campus. This will serve as a platform for promoters of young Goan start-ups to network, learn, deliberate about the global start-up ecosystem with international experts.
IdeaLab 2018 is an international conference that will showcase over 300 startups
This is a fantastic opportunity for GIM, one of India’s premier B-schools. Shortlisted by the NITI Aayog, GIM is one of 13 institutes nationwide to host the prestigious, innovation-oriented Atal Incubation Centre (AIC) which has world-class facilities. It also happens to be the third incubation center to be set up within the state. It is through the AIC that they are hosting IdeaLab 2018, an international conference with over 300 startups participating at the event. GIM recently celebrated its 25th anniversary and has been taking up all sorts of initiatives as part of the celebrations. IdeaLab 2018 is just one of these.
Giving entrepreneurs a nudge in the right direction
IdeaLab 2018 is an initiative of the World Islamic Economic Forum Foundation’s Young Leaders Network (WYN). The first three editions happened in Kuala Lumpur, Malaysia. Now, they have crossed borders and seas with this fourth edition and it is happening in Goa courtesy of GIM. The event takes place over 16th and 17th October 2018 at the GIM campus with a primary focus on early-stage startups.
It is a distinguished start-up conference that cultivates entrepreneurs and assists in the development of start-up ecosystems. IdeaLab’s relevance is from its assorted features, that spur key players in the global start-up ecosystem to network, share experiences, find ways to sustainably scale up and explore business collaborations.
By bringing this event to Goa, GIM hopes to ensure that young Goan entrepreneurs get a chance to learn more about how startups across the globe operate. IdeaLab’s mission is to help them network and meet with resource persons and experts in the industry that will be present at the conference. In doing so, there would be scope for discussions and deliberation on new trends, troubleshooting, nurturing and expanding young businesses.
A booming industry
Earlier this year in April, Goa celebrated Goa Startup and Innovation Day(GSID). If one looks back over the last two to five years, there has been an urgency in turning the state into one of India’s biggest technology hubs. With events like the GSID and IdeaLab, it would hasten the process.
Startups in India are hitting new highs in terms of their valuations. Global investors are plowing funds into the sector. In the past, the startup scene has been defined by consumer-driven ventures. Lately, there has been a shift in that ecosystem as India’s startups begin to focus on technology and product innovation.
NITI Aayog’s Atal Innovation Mission including Self-Employment and Talent Utilization (SETU) is one of the flagship programs of the Government of India to promote a culture of innovation and entrepreneurship.