Huddle Global: Foreign delegatessee India as a global scale-up destination

Huddle Global: Foreign delegatessee India as a global scale-up destination

Trivandrum / December 16, 2022

Thiruvananthapuram, Dec. 16:Noting thatIndia has immense potential to emerge as a global startup scale-up destination by connecting with the global ecosystem, delegates from various countries attending the startup conclave ‘Huddle Global 2022’ lauded the efforts being made by the country in the direction. 

Participating in a session heretoday on ‘Global Startup Bridge-How Indian and foreign countries can positively collaborate towards creating a sustainable global startup ecosystem?,’ they also highlighted the initiatives of Kerala Startup Mission (KSUM) to make the state the startup powerhouse of India. 

Mr Jonas Brunschwig, Consul General, Switzerland and CEO, Swissnex in India, said startups from around the world are looking India more as a product-making space than a market.  

“We have recognized the importance of India as a matured ecosystem as well as a powerhouse in its own terms,” MrBrunschwig said.

MrBrunschwig said their focus in India is on market discovery, validation and entry. 

“From 2016, we have been conducting a core programme for startups in India. We have identified the potential and energy of startups here which have helped us our process of validation and possibilities for partnerships,” he said.

Referring to the growth of Israel in startup ecosystem, MrBrunschwig said Israel has about seven times more investment in startups than Switzerland and about three times more Unicorns than Switzerland.

Mr Hans-JoergHoertnagl, Commercial Counsellor & Trade Commissioner, Advantage Austria, said about 40 percent of startups in Austria are by foreign-born founders and many companies want international connection for scaling up.

MrHoertnagl said one among the 12 innovation offices of Austria across the world is in India and it’s easy for companies to set up offices in Austria. 

MrTanapatSangaroon, Vice Consul-Commercial Affairs, Royal Thai Consulate, said in Kerala, apart from human development, one of its capabilities is connection to Middle East where the food sector is the key.

For sustainability, the country can focus on niche sectors including electronics, IT, food sector, healthcare and hospitality, he suggested.

According to him, India can attract more foreign startups with the exemption for capital gains tax.  He also revealed that he would like to establish a connection between food manufacturers of Thailand and startups from KSUM.

MsLimorBletter, Deputy Consul General, CG of Israel to South India, said Israel is looking at India for collaborations for the long-run as it would be fruitful for both countries.

“We have collaboration with the Centre for Cellular and Molecular Platforms in Bengaluru. We also have some programmes coming up in 2023 which will be finalized following the meeting between the officials concerned from both the countries,” she informed. 

Commenting on the startup milieu in Israel, MsBletter said unlike before, the country’s government is investing less in R&D sector now even as there is a high demand for Israel technology. 

MrIrfan Malik, CEO, inQ Innovation Global, was the moderator.