Chandigarh, March 14
The ongoing Invest Punjab Summit brought the state’s burgeoning entrepreneurial landscape to the forefront during a highly engaging session titled “Idea to Impact: Punjab’s Journey as a Startup Destination.” The session gathered top government officials, industry veterans, and startup enablers to discuss the strategic vision for transforming Punjab into a premier hub for innovation and unicorn startups.
Highlighting the state’s readiness to support massive growth, Chairperson of the Punjab Development Commission, Seema Bansal, set a strong and optimistic tone for the session. She said, “In Punjab, we possess an excellent and highly supportive ecosystem for business and innovation. When we look at today’s successful tech unicorns, it is clear we have all the necessary elements in place to support such growth. Our focus now must be on how we can scale this ecosystem to build and nurture a number of unicorn startups here in the state.”
Reinforcing this commitment, Director, Industries and Commerce, Surabhi Malik, showcased the proactive measures undertaken by the Punjab Government. Through a detailed presentation, she outlined the comprehensive fiscal and non-fiscal incentives currently being provided by the state to actively boost the startup ecosystem and ease the path for new ventures.
S.K. Rai, MD, Hero Cycle and MBCIE, captivated the audience by opening his address with the Urdu couplet, “Hungama shuru karna mera maqsad nahi.” He strongly advocated for the development of alternative funding routes to supplement the support provided by the state government. Citing a successful model developed by IIT Roorkee, which mobilised over 24,000 investors to invest at least Rs 1,00,000 each in startups, he argued that investing in startups is among the safest forms of investment. Praising the inherent entrepreneurial spirit of Punjabis, he concluded his address with the resonant couplet, “Hum toh dariya hain hamme apna hunar maloom hai.”
Earlier in the session, President of TiE Chandigarh, Puneet Verma, shed light on his organization’s extensive initiatives in funding and handholding Startups. Addressing the core concerns of budding entrepreneurs, Verma said, “When people are listening to us, what they really want to ask is: what makes a company more successful? Since about 1993, we have focused on how we can educate you, how we can take you to the market, and how we can help you grow.”
Adding to the collaborative dialogue, Somveer Anand, CEO of the Punjab Innovation Mission, shared his practical experiences and learnings from working closely with the “Startup Punjab” initiative, further emphasizing the on-ground realities of nurturing innovation. The dynamic discussion was expertly guided by session moderator Himanshu Rattan, Lead of Food, Agriculture, and Allied Services at KPMG. The productive event ultimately concluded with a vibrant open house discussion, allowing attendees to interact directly with the panel, followed by the formal felicitation of the key speakers.
