International startup festival kicks off in Hyderabad, AI in focus

As part of the opening ceremony, 12 MOUs were signed with institutions like Singularity University, We-Hub, and the Telangana State Innovation Cell.

Hyderabad: The International Startup Festival (ISF) 2024, a three-day event organized by the International Startup Foundation (ISF) in collaboration with NTT Data, began on Thursday at the Engineering Staff College of India (ESCI) in Gachibowli. The festival, themed “Innovation and Entrepreneurship in the AI Era,” is aimed at fostering innovation and entrepreneurship in the evolving tech landscape.

As part of the opening ceremony, 12 Memorandum of Understanding (MOUs) were signed with institutions like Singularity University, We-Hub, and the Telangana State Innovation Cell. These partnerships aim to strengthen the startup ecosystem, offer mentorship to innovators, and empower women entrepreneurs by providing access to resources and market opportunities.

ISF 2024 brings together over 250 Chief Executive Officers (CEOs), 300 venture capitalists, 800 angel investors, and more than 5,000 delegates from 15 countries, including the USA, UK, Canada, Australia, and Japan. The event provides a valuable platform for startup founders to collaborate with peers and investors, explore growth opportunities, and drive innovation in their ventures.

Inaugurating the event, Member of Parliament D Shetkar Suresh Kumar and Jayesh Ranjan, Special Chief Secretary of Telangana, opened the Expo, which features over 200 curated startups. A notable highlight is the Junicorn Pavilion, an exclusive space for school students and undergraduate innovators to showcase their ideas. Over 30 participants presented their projects, receiving expert guidance from industry leaders.

Dr. J A Chowdary, Chairperson of the International Startup Foundation, stressed the importance of using disruptive technologies to address the unique challenges faced by rural India. He announced the launch of the Ankura Yatra, a program designed to connect with rural innovators across various states to bring about grassroots innovation.

Dr. Siva Mahesh Tangutooru, Co-founder and Director of ISF, highlighted the festival’s goal of nurturing the next generation of innovators. “At ISF 2024, we aim to empower young minds not just to dream of change but to actively create it,” he said, adding that the foundation had identified 10 to 15 startups for mentorship, with a focus on fostering the Junicorns—young innovators contributing to the startup ecosystem.

Telangana IT and Industry Minister Shridhar Babu, who attended the evening session, praised the efforts of Dr. Chowdary, stating, “The International Startup Festival is a remarkable initiative that has the potential to revolutionize India’s IT sector. Through ISF, young entrepreneurs are encouraged to develop technological solutions to solve real-world problems.”

He also highlighted the importance of innovation beyond software, pointing to startups emerging in sectors like mechanical engineering, agriculture, and health tech. The Telangana government, he said, is eager to collaborate with national and international companies to scale these startups and help them find the right markets, both domestically and globally.

Minister Babu further outlined Telangana’s plans to propel 40 to 50 unicorns within the state. “We are setting up an AI City to build an ecosystem for growth and plan to make Telangana the global AI capital,” he remarked. “We will also establish a skill university to train people in emerging technologies like AI to support this vision.”

ISF 2024 continues to attract attention from global investors and innovators, with a strong focus on building a robust startup culture in Telangana and beyond.