PM Narendra Modi to Address Startup Founders in Silicon Valley

"The day-long event on the side of the prime minister's visit to the Silicon Valley will highlight the Indian innovation capabilities of 30 startups across diverse sectors in the country," IT industry representative body Nasscom said in a statement on Saturday.

To be hosted by Nasscom in partnership with The Indus Entrepreneurs (TiE) and the Indian Institute of Management-Ahmedabad's (IIM-A) business incubator Centre for Innovation, Incubation and Entrepreneurship (CIIE), the 'India-US Startup Konnect 2015' will showcase the strengths of India's startup ecosystem.

"Before Modi's address to the gathering, we will sign an agreement with TiE Silicon Valley to facilitate a startup exchange and collaboration programme," Nasscom president R. Chandrashekhar said in the statement.

CIIE will also sign an agreement with corporates and academic partners in the US to jointly build and scale-up disruptive innovations for India through financial aid and collaboration.

"Crafting the India of tomorrow is our collective responsibility. With India-US Startup Konnect, we will showcase success of Indian entrepreneurs to highlight the rising global impact of innovation from India," Chandrashekhar said.

Lauding PM Modi for encouraging the IT industry to fuel the startup economy, the former telecom secretary said with the 'start-up India and stand-up India' call, the prime minister had put the focus on entrepreneurship and job creation.

"With the clarion call, Modi has emphasised on entrepreneurship and job creation by announcing incentives for firms that generate employment and promote bank financing for startups by the underprivileged," Chandrashekhar said.

An exhibition by Indian startups on the margins of the event will showcase their products and solutions in diverse areas such as healthcare, agriculture, energy, technology and aerospace.

"These startups are representative of the changing India where besides creating solutions for urban consumers, innovators are leveraging technology and their experiences to create massive impact by solving some tough problems," CIIE chief executive Kunal Upadhyay added.