MARGAO: In a panel discussion titled 'Navigating the Startup Ecosystem: Challenges and Opportunities,' experts shed light on Goa's progress in developing its startup infrastructure. Despite advancements, further growth is crucial to elevate Goa's ecosystem to the stature of leading IT hubs like Bengaluru.
Vincent Toscano, the panel moderator, highlighted the ambitious plan set forth by the Goa government to position the State among the top 25 startup destinations in Asia by 2025. While acknowledging a lag of 10-15 years in infrastructure, Toscano remained hopeful, envisioning Goa as India's Silicon Valley.
Milind Prabhu shared insights on attracting large IT companies to bolster ecosystem development. He suggested strategic placement of IT sectors near residential areas to enhance productivity and addressed the need to overcome the 'susegado' mentality. Additionally, Prabhu emphasized the transformative potential of Artificial Intelligence in the global startup sector.
Dr. S Prashant highlighted the support available for startups in the state, including mentorship, access to information, and investor connections. He elaborated on various government initiatives and developments making Goa an attractive destination for entrepreneurs.
Sachin Karnik commended Goa's startup ecosystem, applauding the excellence demonstrated by its entrepreneurs comparable to the best in the country. However, he stressed the necessity for additional efforts to scale up the sector further, emphasizing the importance of increased exchanges between stakeholders.
D Sriram Natarajan, whose company achieved unicorn status, identified Goa as a potential top ecosystem destination in India, albeit with some exceptions. He highlighted the untapped potential and expressed gratitude for past support. Despite challenges in sourcing raw materials, Natarajan sees this as a viable business opportunity for Goans, which would in turn contribute to improving the ecosystem. He emphasized the importance of perseverance for entrepreneurial success.
Shatakshi Sharma challenged funding norms, advocating for smaller startups with solid models to succeed. She encouraged early entrepreneurship, particularly among students, citing lower risks. Sharma emphasized individuality and cautioned against blindly following leaders for success. Furthermore, she urged women to combat discrimination and addressed the importance of addressing the happiness deficit, predicting the next revolution to be in solutions to the loneliness epidemic.
Major General M. Indrabalan highlighted defence startup opportunities, citing government measures to boost local investment and purchase from Indian-based service providers or manufacturers.