Aim is to ‘energise young minds’ for innovation: BIMTECH Director Dr H Chaturvedi on hosting StartupKumbh

Greater Noida (India), 28th March 2023: Birla Institute of Management and Technology( BIMTECH) on Tuesday hosted the ‘StartupKumbh’ to provide a boost to the entrepreneurship and startup sector. According to Director BIMTECH, Dr H Chaturvedi, the event primarily focused on igniting a spark of innovation in the youth of India.

The event was held in collaboration with The Ministry of Electronics and IT (MEITY) of India and MEITY Uttar Pradesh. The Minister for Electronics and Information Technology, Uttar Pradesh Mr Ajit Singh Pal attended and delivered an inaugural speech at the event.

Dr H Chaturvedi, Director, BIMTECH engaged in conversation with Ten News and expressed his vision for the event.

On being asked about the objectives of the StartupKumbh and how it aligned with the vision of G20, Dr Chaturvedi replied that the intent and main purpose of holding the event was to connect young startup entrepreneurs with the idea of G20. “Aim is to ‘energise young minds’ especially those in colleges and universities towards startups and entrepreneurship,” he said.

He said that G20 is a group of nations who have excelled and grown because of innovation and entrepreneurship.

Further the Director expressed his faith in countries like China, Russia and India who have ‘a lot of potential’ and an ability to show the world that problem solving can be achieved by igniting innovation and experimentation.

While talking about the Global approach of G20 nations Dr. Chaturvedi said that G20 is divided into multiple groups such as mobility, startup, health, education and edtech, however according to him all the groups must collaborate and align their visions to develop new technologies for the benefit of the world.

On being asked about the macroeconomic challenges faced by startups and his opinion to mitigate such crisis, Dr Chaturvedi answered that organisations such as the NITI Aayog, Government of India, State Governments and big companies must help startups who find themselves in a difficult situation.

Along with this the Director heeded advice to startups and ask them to be cautious and not be frivolous with their investments. He told startups to avoid the state of euphoria that comes with their initial success.

He stated that it is a journey and a balance is required. He further commented on the financial crisis faced by some startups due to the failure of the SVB bank in America. The Director said that the government owned banks in India have decide to aid such startups so that they can withdraw their money and invest them in domestic banks.

Concluding his conversation, Dr. Chaturvedi said that startups should avoid hasty decisions and risks beyond their control and should always keep in mind that, “All times are not great times.”