Government will go any miles to support Startups says CM Bommai at India Global Innovation Connect

Bengaluru, June 02, 2022: Hon’ble Chief Minister of Karnataka Shri. Basavaraj Bommai today inaugurated India’s first global conference on Startups, India Global Innovation Connect, organized by Smadja & Smadja, a Switzerland-based strategic advisory firm, in a strategic partnership with Karnataka Digital Economy Mission (KDEM), Catamaran Ventures, and Tata Digital.

Speaking on the occasion, Shri Bommai said Karnataka is at the forefront of startup innovation. Bengaluru is home to 400 of the Fortune 500 companies and no other country in the world has as many such companies. “Startup is not new to Karnataka and Karnataka is the top destination for startups and not one of the top states,” he said.

He further added, “The Karnataka government will go any miles in supporting startups. We are not worried about the competition. It keeps us going and growing. We convert the competition into acceleration,” he said during his conversation with Claude Smadja, President of Smadja & Smadja advisory after inaugurating the two-day international conference India Global Innovation Connect here on Thursday.

Stating that Karnataka is the first state in the country to introduce a startup policy, he said, the seeds of startup revolution were sowed by the Maharaja of Mysore who supported industrialization, banking and innovation much before the country attained independence.

The inauguration was also attended by a galaxy of international investors, private equity firms, entrepreneurs and innovators from Singapore, Israel, Switzerland, the US, Japan, Korea and Germany. Some of the key attendees included Mr. B V Naidu, Chairman, Karnataka Digital Economy Mission; Mr. Ranganath M D, President, Catamaran Ventures and Prashanth Prakash, Accel Partners, India and Hari Menon, Co-founder & Chief Executive Officer, Big Basket, India.

Declaring the conference open, Claude Smadja, President, Smadja & Smadja, said, “India has always been a land of great entrepreneurial promise for me. As the 4th Industrial evolution has begun, it is pertinent to acknowledge that India will play the role of a catalyst especially with its ability to innovate solutions for itself and the world. India now has the world’s third-largest start-up ecosystem. As a result, the India Global Innovation Connect highlights the potential of how India’s start-up and innovation story is becoming global. Its emergence as the new Silicon Valley of the world will lead to a greater, safer, and stronger tomorrow.”

Over 100 speakers from India and countries like Singapore, Israel, Switzerland, the US, Japan, Korea and Germany are participating at the 2-day conference at the Hotel Conrad, Bengaluru. The panelists in 22 sessions will focus on technological partnerships, ideas on Greentech, Fintech, Deeptech, Edtech, Web 3.0, Super Apps, and Unicorn Growth stories and partnerships.

About Smadja & Smadja

Smadja & Smadja Strategic Advisory (S&S) was established in 2001 in Switzerland and the US. It works with international companies, individual investors, and government entities on global trends and strategic issues. The Firm’s mission is to help its clients navigate and leverage globalization and the technology and entrepreneurial revolution, providing them with actionable insights and a “world view” to help identify new opportunities and risks, and manage the increasing volatility and complexity of a globalized world. The firm creates platforms of content – from strategic, closed doors, seminars to high-profile international conferences. Smadja & Smadja has activities, clients, and partners in Asia, North America, Europe, Latin America, and the Middle East.

About Karnataka Digital Economy Mission (KDEM)

Karnataka Digital Economy Mission (KDEM) is designed to function as the knowledge bridge between the Government of Karnataka and industry to accelerate the growth and investments of the IT, BT, and S&T sectors in Karnataka. With Industries in the driving seat, KDEM is working to harness the unlimited potential of the digital economy of Karnataka by expanding the growth to emerging clusters Beyond Bengaluru and thereby transforming the lives of the people in the state. The IT ecosystem not only uplifts the lives of professionals in the industry but, also powers millions of other ancillary jobs across other industries thus contributing to the overall economy of the Country.

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